KUWAIT CITY, July 16: The Ministry of Commerce and Industry issued 9,881 new company licenses through its Single Window Administration in the first quarter of 2025, marking a 9.4% year-on-year increase from 9,029 licenses during the same period in 2024. The growth of 852 new licenses reflects the Ministry’s continued efforts to streamline business registration and reduce bureaucratic hurdles.

A total of 5,940 companies were established during the quarter. This surge is attributed to a series of administrative reforms implemented by the Ministry aimed at simplifying licensing procedures, minimizing regulatory steps, and eliminating redundancies in the process of setting up and managing businesses.

According to official data, commercial licensing activity saw a significant boost across multiple categories. Company licenses rose 21.3% to 8,390 from 6,919 in Q1 2024, while applications under processing increased to 514.

In the segment of personal company formation, the Ministry received 14,000 applications. Of these, 8,287 were rejected, 705 were approved, 641 were canceled, and 4,526 companies were successfully established. An additional 705 are in the process of being established.

Conversely, licensing activity for special-purpose companies recorded a sharp decline. Only 38 licenses were issued in the first quarter of 2025—a 97% drop compared to 1,660 licenses issued in the same quarter last year. Despite the decline, the Ministry processed 56 applications, resulting in the establishment of nine companies, with six licenses currently in issuance.

Freelance Sector Sees Major Expansion

The freelance and micro-enterprise segment experienced robust growth, fueled by regulatory changes introduced in August 2024. The Ministry reported a 227.25% surge in new licenses for micro and freelance enterprises, rising to 1,453 from 1,000 in Q1 2024. Currently, 42 licenses are in the process of being issued.

Of the 1,649 freelance business license applications submitted, 1,449 were rejected, 705 were approved, and 1,405 companies were established. A further 114 are in the process of formation. This growth reflects the Ministry’s move to support independent professionals and small-scale entrepreneurs through simplified licensing for 175 defined activities that do not require commercial premises.

Licenses in this category, valid for four years, can be obtained via the Single Window Administration, the “Sahel” or “Sahel Business” mobile platforms, or other approved channels.

The Ministry also mandated that all freelance license holders clearly display their license number on their business accounts across electronic and social platforms, and conduct all transactions exclusively through electronic payment methods.

KUAWIT CITY, July 16: ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, and the Shared Electronic Banking Services Company “KNET”, the provider of electronic payment services in Kuwait, today announced that WAMD, Kuwait’s real-time payment system, recorded significant growth in the number of transactions executed since its launch in June of 2024, making WAMD one of the world’s most rapidly adopted real-time payment initiatives. KNET utilized ACI’s Digital Central Infrastructure solution to build the central payment infrastructure of WAMD, an interoperable, countrywide scheme that enables account-to-account (A2A) payment transfers via a bank’s mobile app or internet banking service by using a phone number.

WAMD was implemented in less than 15 months, redefining the pace for rapid digital transformation and innovation. Banks in Kuwait have lauded the scheme for delivering a seamless and user-friendly differentiated customer banking experience. With 100% of the country’s banks now on board with WAMD, this extraordinary growth in real-time payments is expected to continue. “As real-time payments become ubiquitous in Kuwait, consumers have gravitated toward secure, real-time payment methods, reshaping habits around convenience and efficiency while reducing reliance on cash. KNET’s primary strategic focus is to provide a safe and reliable payment environment by enhancing existing infrastructure, developing innovative payment systems, and improving service efficiency domestically and regionally,” said Esam Alkheshnam, KNET’s Chief Executive Officer. Alkheshnam added that “IPS in Kuwait was given the name ‘WAMD,’ which translates to lightning flash – an indication of the speed of the service. WAMD, which is available on the banking application of all local banks, has gained traction from the start, with one million registered users during the first quarter of its launch of WAMD. “As soon as we introduced the service to Kuwait, we began outlining the next phase of IPS in Kuwait, which will build on the success of phase one.

Together with ACI Worldwide, being one of our strategic partners, KNET is committed to adopting state-of-the-art technologies in digital payments, adhering to the highest global standards.” Aligned with KNET’s mission of supporting Kuwait’s national vision for digital transformation, longer-term strategic initiatives include the integration of Kuwait’s fintech players to WAMD and enabling A2A real-time payments in their Electronic Fund Transfer Point-of-Sale terminals using dynamic QR codes. KNET is also looking at implementing the “Request to Pay” service to streamline payment operations for web merchants and provide a safer, enhanced e-commerce shopping experience for Kuwaitis. Kuwait’s evolution into a real-time payment powerhouse is set to further propel the Middle East’s position as a leader in payments modernization.

According to ACI’s Prime Time for Real-Time 2024 report, which tracks global real-time payment volumes and growth forecasts, the Middle East has been recognized as the fastest-growing real-time payments market in the world for two consecutive years. Additionally, real-time payments are a powerful enabler for economic advancement and inclusion. ACI’s Real-Time Payments: Economic Impact and Financial Inclusion report indicates that by 2028, real-time payments are forecast to create more than 167 million new bank account holders and generate $285.8 billion of additional global GDP growth. “Kuwait’s rapid adoption of real-time payments has been impressive and stands out as one of the fastest adoption rates around the globe.

The rising demand for real-time payments drives innovation in payments, forges new use cases that stimulate economic growth, promotes financial inclusion, and meets customers’ evolving expectations,” commented Craig Ramsey, global head of account-to-account payments at ACI Worldwide.“Together, ACI and KNET have created one of the most secure and future-proof real-time payment systems in the world – one that puts Kuwait at the forefront of the global real-time payments revolution.” ACI Worldwide has a strong track record of powering real-time schemes around the world as well as helping banks, fintechs, and other payment service providers in the ecosystem to connect to the schemes and offer new, innovative financial services for consumers and businesses.ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Globally, ACI serves all 10 of the world’s largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily.

Impounded vehicles meant for Uber service, (center), are parked behind a police cordon line at a police station in Hong Kong on May 23, 2017. (AP)

HONG KONG, July 16, (AP): The Hong Kong government on Tuesday unveiled proposals to regulate online ride-hailing services provided by tech companies like Uber, requiring platforms, cars and drivers to be licensed before hitting the road. In a document sent to the legislature, transport officials said those companies applying for a license would need to have business registration and an office in the city.

They also said the platforms would have to fulfill certain conditions on operating experience, proof of financial capability and capital investment, in addition to ensuring the cars and drivers working for them already purchased the required insurance. Under the licensing plans, eligible drivers must have held a private car driving license for at least one year and have no serious traffic convictions within five years.

The drivers also need to pass a test and complete training. Officials plan to set a quota on the number of vehicles allowed to be run under the policy, adding that the cars cannot be over seven years old and have to pass an annual inspection. Currently, it is illegal for drivers of private vehicles to provide paid services to customers without a permit.

Police have arrested some Uber drivers suspected of driving without a permit in the past and in 2018, more than two dozen drivers were fined. Uber, which started operating in Hong Kong in 2014, has faced multiple legal and regulatory challenges in its overseas expansion but remains popular in the semi-autonomous Chinese city, where many residents are frustrated with poor taxi services.

Some taxi companies have long resisted online platforms like Uber, seeing them as a threat to their business. Hong Kong leader John Lee said the legislative framework would need to ensure the co-existence of online ride-hailing services and traditional taxi services. Transport officials could first handle issues with consensus and set up the framework before focusing on other controversial technical problems, Lee said.

“I agree the problem is complicated but it should not be further delayed,” he said. In the document, the government said it would consider charging the platforms fees to provide resources for supporting the taxi industry in improving its service quality. It also suggested the companies allow taxi drivers to offer services through their platforms. Officials aimed to propose the changes in the third quarter of the year to set out matters in principle first. They planned to suggest further legal amendments for other issues in the first half of 2026.