IICO Engages with Kuwait Compliance Co., Takes Awareness Workshop

Kuwait Compliance Co. concluded a 1-day awareness workshop on AML/CFT Requirements for International Islamic Charity Organization held at their headquarters in Kuwait on January 28, 2019.

The workshop, which is a part of Kuwait Compliance Co’s interface with civil society organizations, comes at a time of increased scrutiny on the work of charities and non-profit organizations especially those who operate internationally.

More than 35 participants, representing top management, and the departments of Finance, Legal Affairs, Charity Project Management, Risk Management and Administration, participated in the workshop. The objectives of the workshop were to: (i) alert IICO staff on the dangers and repercussions of money laundering and terrorist financing in the region; (ii) strengthen the capacities of civil society organizations’ stakeholders in the fight against money laundering and terrorist financing; (iii) inform civil society organizations and enable them to implement effective anti-money laundering and counter financing of terrorism (AML/CFT) systems at local and international levels; and (iv) explain to civil society organizations the need to utilize relevant platforms for the dissemination of information, publications and sharing of reliable intelligence on AML/CFT.Several discussions and case studies were brought up with the participants in the context of this high-interactive workshop, which was followed by an in-depth discussion of means of collaboration with Kuwait Compliance Co. to instate a reliable compliance practice at IICO. The roster of participants included Mr. Badr Al Sumait, IICO Director General, and Mrs. Hadeel Al Sabti, Advisor to the Chairman.

Kuwait Compliance Co. Media Relations [email protected] +965 6772 2888

The International Islamic Charity Organization (IICO) is one of the largest humanitarian organizations in the Muslim world. It is an independent, multi-faceted charity that provides its humanitarian services to those in need in the world without discrimination or intolerance away from interference in politics or ethnic conflicts.

The founding of IICO dates back to 1984, when a number of Muslim scholars called for raising a billion dollars to invest and spend from revenues to combat the “triad of danger” (poverty, ignorance and disease) and face the increasing needs of poor communities, after the rise of disease, poverty, illiteracy and unemployment rates in most Muslim countries.

Khaled Al Khulaifi, Director of Media & Public Relations [email protected] +965 2227 4000