The Kingdom Bahrain has returned assets and funds worth nearly $280 million to the State of Kuwait, based on a final verdict issued by the specialized court to confiscate those funds obtained from money laundering crimes, Attorney-General and Head of the International Cooperation and Human Rights Office at the Public Prosecution announced.
The measure was taken within the framework of international judicial cooperation, and cooperation between Bahrain’s Public Prosecution and its Kuwaiti counterpart in the field of verdict enforcement in both countries.
It is also in line with the kingdom’s keenness to honor its anti-money laundering commitments and activate the rules of international judicial cooperation, especially among the Gulf Cooperation Council (GCC) countries, based on the results of the investigations carried out by the National Financial Intelligence Centre at the Ministry of Interior, which managed to detect those funds.
After the necessary legal measures had been taken, the verdict was approved by the Higher Criminal Court in Bahrain in accordance with the requirements of the law, and then the sums subject of the judgment were transferred to the account of the Ministry of Justice in Kuwait, while the shares were placed at its disposal.
The verdict was enforced in two stages, whereby the State of Kuwait recovered funds and shares worth $100 million in the first phase, and about $180 million in the second, bringing the total recovered amount to about $280 million.
May 14, 2023 Published by The Bahrain News Agency.