On 29th April 2015, the government of the State of Kuwait and the USA government have signed the FATCA agreement. Later on, on 19 August 2016, the Government of the State of Kuwait signed the CRS Multilateral Competent Authority Agreement with the Organization for Economic Cooperation and Development (“OECD”) for exchange of information for tax purposes.
Application of both FATCA & CRS requires an in-depth study of the compliance strategy, reporting and existence of a legal framework, technical capabilities and processes to guarantee confidentiality of information to be exchanged.
This course aims to train and develop the skills of employees working in banks and other financial institutions subject to FATCA and CRS to enable the participants:
- Understand FATCA obligations and methods of application.
- Understand reporting mechanisms under FATCA Law.
- Internal Controls over FATCA Reporting.
- Understand the regulatory guidelines for the common reporting standard (CRS).
- Understand Kuwait Financial Institutions’ obligations concerning CRS.
- Evaluate impact of CRS on the Financial Services Industry
Who Should Attend This Course?
Companies licensed by the Capital Markets Authority (CMA)
Local banks and branches of foreign banks operating in the State of Kuwait
All job levels specialized in regulatory compliance;
All job levels specialized in risk management;
All job levels specialized in Information Systems Management;
All job levels specialized in financial transactions with financial institutions (Staff of Banking operations and services department);
All job levels specialized in financial management
All job levels specialized in Anti-Money Laundering and Combating the Financing of Terrorism, and
All job levels specialized in legal affairs.
No. of Days : 2 Days
Course Dates : 05 – 06 February 2018
Course Timing : 9:00 am – 1:00 pm
Course Language : English
Course Venue : Fully Equipped Training Facility at 5 stars hotel