Kuwait Recovers $290M in Illicit Assets, Launches MENA Asset Recovery Network
Kuwait's Attorney-General, Dr. Omar Al-Masoud, has underscored the importance of global cooperation in tracing, seizing, and recovering illicit assets gained through transnational crimes. Kuwait is hopeful about expanding international partnerships for this purpose, having successfully worked with Arab and GCC nations to recover over 88.9 million Kuwaiti dinars (approximately US $290 million) from various jurisdictions.
Kuwait has activated international and regional mutual legal assistance frameworks to facilitate asset recovery. A dedicated office has been established within Kuwait's Public Prosecution Office to handle these matters. Recently, the first annual meeting of the Middle East and North Africa Regional Asset Recovery Network (MENA-ARIN) was held in Jeddah, marking its official launch. This event aimed to strengthen international partnerships and develop more efficient recovery mechanisms. Kuwait expressed gratitude to Saudi Arabia for hosting the inaugural meeting of the MENA-ARIN network. The network's goal is to facilitate the exchange of expertise, best practices, and intelligence to enhance efficiency in asset recovery procedures.
Kuwait's commitment to asset recovery is evident in its successful collaborations and the establishment of the MENA-ARIN network. With the support of international partners, Kuwait continues to work towards tracing, seizing, and recovering illicit assets, contributing to the global fight against transnational crimes.
