Kuwaiti move to fight corruption adopted regionally
During its sixth session held in Doha, the Conference of the States Parties to the Arab Convention against Corruption approved a Kuwaiti resolution aimed at strengthening transparency regarding the actual beneficiaries of companies. The resolution focuses on identifying who owns or controls companies in practice, in order to reduce the use of such means to conceal corrupt funds and to enable relevant authorities to track and recover these assets. It calls for developing national legislations, promoting the exchange of information, and leveraging modern technologies and artificial intelligence to enhance transparency and uncover the true beneficiaries. This initiative enjoys broad Arab support and is the first draft resolution presented by "Nadhwa" in the name of Kuwait to bolster Arab cooperation in confronting methods used to conceal ownership of funds derived from corruption.
Notice: This Is an AI-Generated Summary
Comments (0)