Commitment to AML / CFT Compliance
Kuwait Asian International Exchange Co WLL is fully committed to complying with all applicable Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) laws and regulations of ‘State of Kuwait’ (Law 106/2013 and its executive directives, law 35/2019 and other issued ministerial resolutions on AML & CFT).
“We uphold comprehensive policies, procedures, and controls to detect, prevent, and report suspicious activities, fully aligned with international standards and the regulatory requirements of the Central Bank of Kuwait, our supervisory authority.”
Customer Due Diligence Process
We conduct thorough Know Your Customer (KYC) procedures to verify the identity of our clients. Customers are required to provide valid identification and supporting documentation as per CBK & KUAIEX guidelines when initiating transactions. Enhanced due diligence measures are applied for higher-risk customers and transactions.
Monitoring and Reporting
All transactions are subject to ongoing monitoring. Any unusual or suspicious activity is promptly reported to the relevant regulatory authorities. We cooperate fully with law enforcement and regulatory bodies in their efforts to combat financial crime.
Employee Training
Our employees receive regular training on AML/CFT obligations, red flags, and reporting procedures to ensure compliance and vigilance across all our operations.
Customer Responsibilities
Customers are expected to:
- Provide accurate and complete information when requested.
- Avoid engaging in transactions that may involve illicit funds or activities.
- Cooperate with compliance checks and requests for documentation.
Record Keeping & Confidentiality
In accordance with regulatory requirements, the company maintains accurate and comprehensive records of all transactions and customer information. These records are preserved for the legally mandated period to ensure transparency, accountability, and effective monitoring.
Zero Tolerance Policy
Kuwait Asian International Exchange Co. WLL maintains a strict zero‑tolerance policy against money laundering, terrorist financing, and all forms of financial crime. This policy is enforced in full compliance with the laws of the State of Kuwait as well as applicable international regulations and standards. The company reserves the right to decline services and to terminate any business relationship with individuals or entities reasonably suspected of involvement in such illicit activities
Independent Review
The Compliance and Anti‑Money Laundering (AML) Department is subject to regular independent reviews and audits. These assessments are conducted to ensure the effectiveness of internal controls, adherence to regulatory obligations, and continuous improvement of compliance practices. Findings from such reviews are reported to senior management and, where applicable, to ‘Central Bank of kuwait’.