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Payment proof required for transferring car to another person name

Wednesday, September 15, 2021
Payment proof required for transferring car to another person name

Assistant Undersecretary for the Traffic Sector, Major General Jamal Al-Sayegh, issued a decision not to transfer the ownership of a vehicle until after verifying the mode of payment to purchase the car by the buyer. The buyer has to provide a copy of the cheque, cash receipt, or a bank transfer certificate to the authorities for name transfer.

According to report, this decision has been made to put a curb on money laundering operations that take place as luxury vehicles in recent times have been bought and sold through cash payment.


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Express your comment on this article

 
Anand
Thursday, September 16, 2021
Why trouble poor buyer. This rule should be applicable to only expensive vehicles whose value should be more than KD. 5000..

Sid
Wednesday, September 15, 2021
what if one is gifting it to another? is there any exception for such cases?

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