Article 16 of Anti-Money Laundering Law

A unit called the “Kuwaiti Financial Intelligence Unit” shall be established, having independent legal personality and acting as the entity responsible for receiving, requesting, analysing and referring information concerning what is suspected to be proceeds derived from a crime, or funds connected or related thereto, or which may be used to carry out money laundering or terrorist financing operations in accordance with the provisions of this Law. 1( Amended pursuant to Law No. 24 of 2016. The Unit shall have a budget, the draft of which shall be prepared by the Head of the Unit and included under a special section of the State General Budget. The provisions governing the State budget shall apply to it and to the final account. The Unit’s financial year shall begin on the first of April of each year and end on 31 March of the following financial year. The first year shall be excepted from this and shall begin on the date this Law enters into force and end on 31 March of the following financial year. A decision shall be issued by the Council of Ministers, upon a submission by the Minister of Finance, concerning the form, determination of its affiliation, and organisation of its activities and resources. The Unit’s employees must maintain the confidentiality of information they obtain within the scope of performing their duties, even after they cease performing those duties within the Unit. Such information may be used only for the purposes stipulated in this Law.