Kuwait to keep closer eye on public sector finances
Kuwait’s national assembly recently approved a law requiring a financial disclosure statement from all public officials, the official news agency KUNA reported. The auditing bureau has been added to a list of monitors that will assess the financial standing of civil servants. The law’s objective is to curb financial and administerial corruption in the Kuwaiti government.
From now on, Kuwaiti ministers and chairmen of firms whose shares are owned by the Kuwaiti government will have to go through a process of financial scrutiny on a regular basis, chairman of the financial and economic committee, Abdul Wahab Alharoon confirmed.
The Kuwaiti parliament approved Wednesday, December 26, an anti-money laundering bill in its first reading. The bill calls for the establishment of a body that would monitor financial transactions within Kuwait, in a bid to combat such criminal practices. — (menareport.com)
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