KUWAIT Law and Practice Contributed by:
Iraq
Iran
Kuwait
Saudi Arabia
Yousef Al Shereedah, Abdulrahman Al-Roumi and Bashayer Al-Tuwais International Counsel Bureau – Lawyers and Legal Consultants
Contents 1. Legal Framework p.286 1.1 Key Laws and Regulations p.286 2. Authorisation p.288 2.1 Licences and Application Process p.288 3. Changes in Control p.291 3.1 Requirements for Acquiring or Increasing Control Over a Bank p.291 4. Governance p.295 4.1 Corporate Governance Requirements p.295 4.2 Registration and Oversight of Senior Management p.299 4.3 Remuneration Requirements p.299 5. AML/KYC p.300 5.1 AML and CFT Requirements p.300 6. Depositor Protection p.303 6.1 Deposit Guarantee Scheme (DGS) p.303 7. Prudential Regime p.304 7.1 Capital, Liquidity and Related Risk Control Requirements p.304 8. Insolvency, Recovery and Resolution p.306 8.1 Legal and Regulatory Framework p.306 9. ESG p.308 9.1 ESG Requirements p.308 10. DORA p.310
10.1 DORA Requirements p.310 11. Horizon Scanning p.312 11.1 Regulatory Developments p.312
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