Kuwait Court of Cassation principle number 633

The legislature's specification of the activities that exchange companies are licensed to conduct and its prohibition on their conducting banking activities, including accepting bank deposits. The Minister of Finance's decision concerning the subjection of exchange companies to Central Bank supervision. The general and unqualified use of the term deposits therein. Its implication. It extends to all monetary deposits and their forms, including those allocated to a particular public economic interest - the purpose of this prohibition - protection of a public economic interest concerning public policy. The effect of its violation. Absolute nullity. Example. - Its supervision of membership of boards of directors:-