Kuwaiti banks seek clarity on citizenship revocation from Central Bank

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KUWAIT CITY, May 4: In a recent development, banks in Kuwait have reached out to the Central Bank of Kuwait, urging clarity regarding individuals whose Kuwaiti citizenship certificates have been withdrawn or revoked. The request, directed through the Ministry of Interior, seeks a comprehensive statement detailing such cases, particularly those individuals who may have obtained citizenship through dependency on the certificate holder.

According to reliable sources cited by Al-Rai, the banks have emphasized obtaining the civil numbers of the affected individuals. This information is vital for banks to update their customer records accurately. Additionally, they have requested to be promptly informed of any new names in case further decisions are made to withdraw or annul citizenship certificates.

The urgency behind this request is underscored by the number of individuals affected by citizenship withdrawal has surpassed 200 cases. Banks are keen to meticulously scrutinize their records to ascertain any financial obligations these individuals might have, such as outstanding loans or deposits. This proactive approach aims to assess the associated banking risks and implement appropriate measures to mitigate defaults.

The challenges faced by banks in this process are attributed to the lack of civil numbers accompanying the published names of affected individuals in the Official Gazette of Kuwait. Without these crucial identifiers, banks encounter difficulties in accurately identifying and updating their records. This issue impedes their ability to comply with the Central Bank’s policies and the directives of the Public Prosecution concerning anti-money laundering measures.

In response to these challenges, banks have stressed the importance of receiving accurate data from Civil Affairs to facilitate the identification process effectively. They assert that the provision of civil numbers alongside published names is imperative for ensuring the integrity and efficiency of their automated systems. This alignment between regulatory authorities and financial institutions is crucial for upholding transparency and combating financial crimes effectively.

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