31/03/2025
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31/03/2025
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KUWAIT CITY, March 31: Following Cabinet Resolution No. 552, issued on June 11, 2024, the supervision and regulation of money exchange shops have been transferred from the Ministry of Commerce and Industry to the Central Bank of Kuwait.
This transition was implemented through Ministerial Resolution No. 233 of 2024, which establishes new regulatory requirements for money exchange companies and institutions under the Central Bank of Kuwait’s oversight. License holders were given a specific timeframe to comply with these new regulations, with the deadline set for March 31, 2025. As a result, the Ministry of Commerce and Industry will suspend and prohibit the commercial activities of any companies or institutions that fail to meet the updated requirements.
