Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 578

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

English translation of the principle

The prohibition on exchange companies conducting 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 rule 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. م ٢ من قرار وزير المالية في ١٩/٣/٨٤ عموم هذا النص. مؤداه. إنصراف حكمه لكافة صور الودائع النقدية ومنها المخصصة لغرض معين.
Original Arabic judgment citations

(الطعن ٢٢٧/١٩٨٨ تجاري جلسة ٥/٢/١٩٨٩ مج القسم الثاني - المجلد الثالث ص ٩٩٧)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 109. PDF pages: 109.

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