CMA LAW: Circular No. (13) of 2021 to All Persons Licensed by the Capital Markets Authority Regarding Stating the Civil ID Number of Non-Kuwaiti Clients Residing in the State of Kuwait

Based on the provision of the first paragraph of Article (14) of “Law No. (32) of 1982 regarding the Civil Information System”, which stipulates approving the use of the civil ID issued by the Public Authority for Civil Information (PACI) in verifying the identity of the card holder as follows: PACI issues a card for each individual registered in the civil information system called the Civil ID, and this card is approved by governmental and non-governmental entities to determine the identity of its owner.

In an effort to unify the data and information format to enable the competent authorities to achieve their objectives in the areas of supervision and statistics, all licensed persons who manage or keep clients’ assets and funds shall update the policies and procedures for managing clients to state the Civil ID number of all non-Kuwaiti clients residing in the State of Kuwait who are registered in the civil information system at PACI, including setting up the necessary mechanisms and systems to update the data of all existing and new clients.

Prof. Ahmad AlMelhem

Issued on: 07/09/2021

Copy of the Official Document

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