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Al-Tanweem Insurance extends report deadline
The Kuwait Insurance Regulatory Authority has decided to extend the deadline for submitting financial reports related to the FATCA agreement and the Common Reporting Standard (CRS) until August 31, 2026, instead of May 31, 2026. This extension aims to support the supervised entities in completing the technical and operational requirements and audit procedures for the years 2024 and 2025. This extension is granted in accordance with the Insurance Regulation Law and its Executive Regulations and is intended to ensure compliance with the standards. It has been confirmed that all provisions remain in effect, with a warning that legal action may be taken against violators in case of non-compliance.
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