Legal Frameworks for Financial Corruption in the State of Kuwait

Melfi Mohammad Al Azemi, Mohammad M. Alazemi
2021 International Journal of Business Ethics and Governance  
The study aimed to identify the legal frameworks shaping financial corruption in Kuwait. Corruption is a serious disease, rapid in contagion and spread, and slow in diagnosis and treatment, and it requires considerable effort, time, and cost to combat and reduce it. It does not require only specific steps, but rather it necessitates the existence of legitimate and legal foundations. Thus, this study deals with the legal foundations for financial corruption in Kuwait from two perspectives,
more » ... , the legal frameworks for financial corruption and the scope of criminalization of financial corruption in Kuwait. The qualitative approach was used by analyzing official reports, collecting data and figures through a range of means such as interviews and observations, and measuring the corruption index during the past ten years in Kuwait. The results of the research found a high level of a financial corruption index in Kuwait, which has been intensifying during the past ten years through various manifestations, such as money laundering, manipulation and abuses of sovereign funds to invest in suspicious projects, real estate fraud against citizens, and issues related to the investment of the Public Institution for Social Security's funds (pension funds), etc. Finally, the research concluded with a set of recommendations and proposals at the criminal level about the seriousness of financial corruption on the individual and society level, in addition to the required development and the government's efforts to address the phenomenon of the spread of financial corruption in this country.
doi:10.51325/ijbeg.v4i3.83 fatcat:nn23zgreprgz7dc77nktnhpds4