(Arab Conference on Combating Corruption) adopts Kuwaiti resolution on beneficial ownership transparency

Doha, September 23 (KUNA) -- The Conference of the Parties to the Arab Convention on Combating Corruption, in its sixth session held in Doha, adopted a resolution proposed by Kuwait and drafted by the Public Authority for Combating Corruption (Nazaha). This marks the first time the authority has prepared and submitted a draft resolution on behalf of Kuwait to the conference.

In a statement, Nazaha said the resolution aims to enhance states’ capacity to identify individuals who own or effectively control companies, thereby limiting the use of such entities to conceal proceeds from corruption crimes. This facilitates the ability of competent authorities to detect, trace, and recover these funds, while protecting legitimate business activities.

The statement quoted Nazaha Chairperson Dr. Rana Al-Faris, stating that the adoption of the Kuwaiti resolution represents an important step toward strengthening Arab cooperation in confronting methods used to conceal the identity of beneficial owners and to disguise proceeds from corruption crimes.

Al-Faris noted that “knowing who owns or effectively controls companies enhances transparency, limits the potential for their misuse in concealing proceeds from corruption crimes, and helps competent authorities detect, trace, and recover such funds.”

She added that Kuwait strove, in preparing the resolution, to achieve a balance between enhancing integrity and transparency on one hand, and protecting legitimate business activities and economic interests on the other, in line with the Arab and international conventions on combating corruption and the recommendations of the Financial Action Task Force (FATF).

Al-Faris pointed out that this resolution, as the first draft resolution Nazaha has prepared and submitted on behalf of Kuwait, reflects the authority’s orientation toward enhancing Kuwait’s contribution to developing joint Arab initiatives in preventing and combating corruption, and transitioning from participation in regional efforts to initiating and proposing recommendations that support joint Arab action.

She explained that the resolution calls on the States Parties to develop their national legislations and regulations to confront methods of concealing true ownership, enhance information exchange and cooperation among them, and leverage modern technologies and artificial intelligence in collecting and analyzing data that help identify beneficial owners.

Al-Faris clarified that the resolution is an extension of Kuwaiti efforts that began at the Gulf level, where Nazaha previously prepared the “Guide on Practices and Measures for Identifying the Actual Beneficial Owner for GCC States,” which was adopted by the Ministerial Committee on Combating Corruption in the Gulf Cooperation Council countries, before these efforts transitioned today to the Arab level.

She expressed Kuwait’s appreciation to sister state Qatar for its excellent hosting and organization, and to the States Parties for their support of the resolution, emphasizing the expectation that its outcomes will be translated into practical steps that enhance integrity, transparency, and Arab cooperation in combating corruption.

For his part, Hamad Al-Misnad, Chairman of the Qatar Administrative Control and Transparency Authority, said in a speech that the convening of this conference reflects the growing attention Arab states are paying to consolidating integrity, transparency, and the fight against corruption. He noted that since its adoption, the Arab Convention on Combating Corruption has formed an important legal and institutional framework for joint Arab action.

He added that the next phase requires greater attention to the opportunities offered by recent transformations, foremost among them the digital transformation, artificial intelligence, smart governance, and modern monitoring, follow-up, and evaluation tools, due to their role in improving performance efficiency, enhancing measurement capabilities, strengthening early prevention, supporting decision-making, and formulating more robust policies, while being aware of the new challenges and risks these transformations may generate.

It is worth noting that the Arab Forum, whose activities began on September 21, includes three additional dialogue sessions alongside codes of conduct: “Challenges and Opportunities in Facilitating Access to Information,” “Opportunities Provided by Artificial Intelligence in Anti-Corruption Prevention Efforts,” and “The Relationship Between Parliamentary Councils and Anti-Corruption Authorities.” (End) S.S.S / S.M.A