Al-Rai learned that the General Organization for Social Insurance informed the banks that it is not legally able to obligate the retired person to submit a clearance document if he decides to transfer his dues from one bank to another.
In response to the banks’ desire to oblige the retired to submit a letter of discharge if he decides to transfer his account from one bank to another to protect his rights and to avoid any legal procedures against retirees in the event of financial obligations on them, the Corporation pointed out that this behaviour is inconsistent with the provisions established in the Social Insurance Law, and the decisions issued implementation thereof.
Clients transfer their money to more than one bank and exchange account to avoid the “money laundering” trap.
The Central Bank calls on banks to Kuwait, the managers of “money laundering.”
On the other hand, the sources indicated that the ministries, along with the “Social Insurance”, are still studying the banks’ request to separate end-of-service files from the file of daily transfers of salary entitlements and differences.
The banks pointed out that the end-of-service benefits require special procedures from the banks, which entail seizing the accounts of customers in the aforementioned file because the systems in the banks are unable to differentiate between the end-of-service amounts and the various receivables in the file.
