Kuwait Court of Cassation principle number 1651
State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Prohibition on exchange companies engaging in banking activities, including accepting cash deposits. Article 2 of the Minister of Finance's Decision of 19/3/84. The generality of this provision. Its implication. Its rationale extends to all forms of cash deposits, including those earmarked for a specific purpose.
Arabic original
حظر ممارسة شركات الصرافة لأعمال المهنة المصرفية ومن بينها قبول الودائع النقدية. م٢ من قرار وزير المالية في ١٩/٣/٨٤ عموم هذا النص. مؤداه. انصراف حكمة لكافة صور الودائع النقدية ومنها المخصصة لغرض معين.Original Arabic judgment citations
(الطعن ٢٢٧/٨٨ تجاري جلسة ٢٥/٢/١٩٨٩ مج القسم الثاني - المجلد الثالث ص ٥١)
Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 289. PDF pages: 289.
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