The crimes covered by the law include manipulation of public tenders and auctions, bribery, counterfeiting, forgery and graft, the state news agency KUNA reported.
Earlier this month, the International Monetary Fund said that Kuwait’s anti-money laundering framework showed weaknesses in the preventive measures for financial institutions and a lack of supervision and monitoring.
The draft law will be referred to Kuwait’s ruler and then to the parliament.
About 2,000 Kuwaitis protested in the capital recently against alleged corruption in the state’s government.
The protest was held after Kuwaiti daily newspaper Al-Qabas reported recently that several local banks were trying to deal with suspiciously large deposits by some parliamentarians and members of their families.
Qabas said banks had enquired about these amounts and the answers they got from some lawmakers were “not convincing,” and could be related to political corruption.
