Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 413

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

English translation of the principle

Non-Kuwaitis' deposits with banks and companies, the agreements they conclude with them to invest those deposits for their account, and dealing in foreign currency and precious metals. Their exception from the prohibition on foreigners engaging in trade. Its condition: that this fall within the objects of these companies. The purpose thereof. Equal treatment of foreigners and Kuwaitis. The reason for the prohibition relates to an attribute of the company itself, not to an attribute of the person dealing with it.
Arabic original
ودائع غير الكويتيين لدى البنوك والشركات وما يبرمونه معها من اتفاقات لاستثمارها لحسابهم والتعامل في النقد الأجنبي والمعادن الثمينة. استثناؤه من حظر اشتغال الأجنبي بالتجارة. شرط ذلك: دخوله في اغراض هذه الشركات. الهدف من ذلك. التسوية بين الاجانب والكويتيين. رجوع علة الحظر لوصف يقوم في ذات الشركة وليس لوصف في شخص المتعامل معها.
Original Arabic judgment citations

(الطعن ١٣٠/٨٩ تجاري جلسة ١٢/٢/١٩٩٠ مج القسم الثاني - المجلد الأول ص ٧٥٣)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 84. PDF pages: 84.

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