CONFIDENTIAL
112133
CAN 4934
(A) THEIR PRIOR APPROVAL IS NEEDED BEFORE ANY BANK WILL BE PERMITTED TO MAKE PAYMENTS TO KUWAIT, IRAQ OR ''ANY RELATED PARTIES''
(B) NO KUWAIT, OR IRAQI, ASSETS MAY BE TRANSFERRED TO KUWAIT OR IRAQ, OTHER THAN THOSE BELONGING TO THE LEGITIMATE KUWAIT GOVERNMENT, UNLESS APPROVED BY THE AUTHORITY.
4.
THE MAS HAVE ALSO TOLD US IN CONFIDENCE THAT ORGANISATIONS OWNED BY KUWAIT OR BY KUWAIT INTERESTS ARE BEING CLOSELY MONITORED. THREE BANKS ARE BEING PARTICULARLY CLOSELY SCRUTINISED:
(A) GULF BANK (KSC) (ITS ONLY BRANCH OUTSIDE KUWAIT IS IN SINGAPORE).
(B) KUWAIT ASIA BANK (REGISTERED IN BAHRAIN). HERE AGAIN, ITS ONLY NON-KUWAIT BRANCH IS HERE.
(C)
NATIONAL BANK OF KUWAIT, (ALTHOUGH ITS ASSETS HAVE NOT BEEN
FROZEN).
5.
THE KUWAIT INVESTMENT OFFICE (KIO) BRANCH HERE IS ALSO BEING CLOSELY MONITORED, ALTHOUGH PERMITTED TO CONDUCT BUSINESS.
6. WE SHALL CONTINUE TO KEEP IN TOUCH WITH THE SINGAPORE AUTHORITIES AND WILL REVERT IF NECESSARY.
PIKE
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