Legal Frameworks for Financial Corruption in the State of Kuwait

Q3 Business, Management and Accounting International Journal of Business Governance and Ethics Pub Date : 2021-09-30 DOI:10.51325/ijbeg.v4i3.83

Melfi Mohammad Al Azemi, Mohammad M. Alazemi

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引用次数: 1

Abstract

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, namely, 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.

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科威特国金融腐败的法律框架

这项研究旨在确定影响科威特金融腐败的法律框架。腐败是一种严重的疾病，传染蔓延快，诊疗缓慢，打击和减少腐败需要付出相当大的努力、时间和成本。它不仅需要具体步骤，而且需要存在合法和法律基础。因此，本研究从两个角度处理科威特金融腐败的法律基础，即金融腐败的法律框架和科威特金融腐败的刑事定罪范围。定性方法是通过分析官方报告，通过访谈和观察等一系列手段收集数据和数字，以及衡量科威特过去十年的腐败指数。研究结果发现，科威特的金融腐败指数很高，在过去十年中，通过各种形式加剧，如洗钱、操纵和滥用主权基金投资可疑项目、针对公民的房地产欺诈以及与社会保障公共机构基金(养老基金)投资有关的问题等。最后，除了需要发展和政府努力解决这个国家金融腐败蔓延的现象外，研究还总结了一套关于金融腐败在个人和社会层面的严重性的刑事层面的建议和建议。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Business Governance and Ethics Business, Management and Accounting-Business and International Management

CiteScore

1.90

自引率

0.00%

发文量

期刊介绍： Issues of governance, responsibility and accountability are becoming increasingly important as the world, simultaneously, becomes dominated by corporations, interconnected via forces of globalisation and transparent through heightened media attention and the rise in internet-led democracy. Companies, and in particular leaders of business, can no longer hide from their responsibilities to wider stakeholder community by claims of ignorance of corporate malpractices and of failure. Boards of directors are being increasingly made responsible for both the successes and failures of their companies, as well as their own conduct and behaviours. Actions of business have increasingly become a concern not just for shareholders but also for the wider community at large.