Banks in Kuwait have started freezing the accounts of individuals whose Kuwaiti nationality was revoked under Article 8 of the Nationality Law and who did not regularize their residency status before the Ministry of Interior’s August 31 deadline. The account freezes impact all banking services, particularly affecting female customers who missed the cutoff to maintain eligibility under the “Kuwait Benefits” program.
Once an account is frozen, customers are unable to perform any banking transactions. This includes deactivation of all bank cards, suspension of withdrawals and deposits, ineligibility for new loans or financing, and disabling of all electronic banking services such as online and mobile applications. Access to account balances, statements, and internal transfers is blocked, and any checks linked to frozen accounts are rejected. Investment activities, including stock purchases and fund transactions, are also suspended, and the freeze extends to investment portfolios, funds, and assets managed by both private and government entities.
Although proceeds from the sale of property, stocks, or other assets are still credited to the frozen account, they remain inaccessible to the account holder. These measures underscore Kuwait’s strict enforcement of regulations tied to nationality and residency compliance, affecting a wide range of financial and investment activities for those who failed to meet the Ministry’s deadline.
