The Kuwait Capital Markets Authority imposed financial sanctions on NCB Capital Investment Company (K.S.C.C.) for procedural violations of Module Sixteen (Anti-Money Laundering and Combating the Financing of Terrorism) of the Executive Bylaws to Law No. 7 of 2010 regulating securities activities. The Board of Commissioners imposed a fine of KWD 6,400 for a breach of Article (3-37) and a further fine of KWD 4,400 for a breach of Article (4-1) of the same module. The Authority reiterated its expectation that all parties conducting securities activities comply with the law and its Executive Bylaws.
2025-07-20Kuwait Capital Markets Authority
Kuwait Capital Markets Authority imposes KWD 10,800 in AML and CFT procedural fines on NCB Capital Investment Company
The Kuwait Capital Markets Authority fined NCB Capital Investment Company (K.S.C.C.) a total of KWD 10,800 for breaches of Module Sixteen of the Executive Bylaws to Law No. 7 of 2010, concerning anti-money laundering and combating the financing of terrorism. The fines were imposed for violations of Articles (3-37) and (4-1). The Authority emphasized the importance of compliance with the law and its Executive Bylaws for all securities activities.