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.
Kuwait Capital Markets Authority 2025-07-20
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.