Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 1576

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Depositing funds with banks or companies, investing funds with them, and dealing in foreign currency and precious metals. Its permissibility for a non-Kuwaiti. Law 45/1989 amending Art. 23 of the Commercial Law. The condition and rationale of this exception, the limits of its application, and the companies to which it applies.
Arabic original
إيداع الأموال لدى البنوك أو الشركات واستثمار الأموال لديها والتعامل في النقد الأجنبي والمعادن النفيسة. إباحته لغير الكويتي. ق ٤٥/١٩٨٩ بتعديل م ٢٣ ق التجارة. شرط هذا الاستثناء وعلته وحدود سريانه والشركات التي يسري عليها.
Original Arabic judgment citations

(الطعن ١٢٢/٩٢ تجاري جلسة ١/٣/١٩٩٣ مج القسم الثالث - المجلد الثالث ص ٤٥)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 275. PDF pages: 275.

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