Finance ministry authorizes state bodies to conduct loan operations on its behalf
KUWAIT: Minister of Finance Noura Al-Fassam on Sunday issued a decision authorizing the Central Bank of Kuwait (CBK) and Kuwait Investment Authority (KIA) to borrow from the domestic and global markets, respectively, in favor of the ministry in implementation of the newly issued public debt law.
The two bodies will conduct the borrowing processes for the current fiscal year 2025/2026, which started on April 1, in consultation and prior arrangements with the ministry of finance, said the decision, without providing details about the amounts to be borrowed. Kuwait issued a new debt law in March, putting a ceiling of KD 30 billion on public debt and maturity at 50 years. It will be the first time Kuwait returns to borrowing since 2017.
Published in the official gazette Kuwait Alyoum, the decree is based on the Amiri decree-law regarding financing, liquidity and public debt strategy, as well as the approved financing plan for the 2025/2026 fiscal year. According to the first article of the decree, the CBK is authorized — on behalf of and in coordination with the ministry — to conduct
domestic loan operations in Kuwaiti dinars or major convertible foreign currencies. These operations must follow internationally recognized financial instruments and practices.
The second article authorizes KIA to conduct external loan operations in major convertible foreign currencies from the global market, also on behalf of and in coordination with the ministry, and in line with international financial practices. The third article mandates the relevant authorities to implement the decree within their respective jurisdictions and submit periodic reports to the minister of finance on actions taken under its provisions.
Director of public debt at the finance ministry Faisal Al-Muzaini said last week the state is expected to borrow between KD 3 to 6 billion during the current fiscal year to finance development projects. Al-Muzaini also said that the ratio of debt to gross domestic product (GDP) in Kuwait is very small at just 2.9 percent, whereas it is 60 to 70 percent in many countries. He said that the 2025-2030 five-year strategic borrowing plan will be determined by oil prices, global markets and risks associated with borrowing.
Finance ministry undersecretary Aseel Al-Munaifi also said last week the new debt law will stimulate the economic environment and promote foreign investments into Kuwait, besides accelerating economic growth and strengthening the banking system in Kuwait. She said that a law regulating the issuance of sukuk, or Islamic bonds, is expected to be issued soon as it is being reviewed by authorities at the council of ministers.
KUWAIT: The newly formed Ahmadi Governorate Council held its first session on Monday, outlining plans for how it will support the governorate’s development and its community needs. The meeting was chaired by Governor Sheikh Humoud Jaber Al-Ahmad Al-Sabah at the Sheikh Ahmed Al-Jaber Oil and Gas Exhibition, with representatives from government agencies and three citizen members present.
The council was established following the Cabinet’s approval in May 2025, under Decree No. 151 of 2024, which created Governorate Councils across all six of Kuwait’s governorates. These councils are designed to support governors in managing local affairs and improving public services.
Sheikh Humoud highlighted the council’s key role in advancing development efforts and improving public services in Ahmadi. “Our work plan includes monitoring government development projects in the governorate and enhancing the quality of public services,” he said. “We will also assess the needs for new facilities, address citizens’ complaints, and encourage initiatives aimed at improving our community.”
In addition to overseeing infrastructure and public service projects, the council will collaborate closely with the Ministry of Interior to maintain security and public order. It will also supervise environmental safety and public health efforts, and promote educational, social, and volunteer activities within the community.
To manage its work efficiently, the council formed specialized subcommittees during the session. These include the Public Services Committee, the Complaints and Suggestions Committee, and the Government Projects Follow-up Committee. Sheikh Humoud praised the strong cooperation from government bodies involved and emphasized their shared commitment to sustainable development across the governorate. — Agencies
KUWAIT: Participants in the sixth edition of Zain’s Summer Program continue their hands-on training journey across diverse work environments. The program remains focused on equipping them with practical skills and real-world experience to prepare them for the job market, all within a professional setting that mirrors the fast-paced private sector.
Recently, the students took part in an inspiring media experience, where they learned about the strategies and challenges of modern media and how to deliver messages creatively and artistically. The session featured Director Ya’arub Bourahma and young content creator Aws Ya’arub Bourahma, who shared their personal stories and valuable insights in media and content creation.
As part of its efforts to strengthen bonds and team spirit among the participants, Zain organized side entertainment activities such as kart racing and a shooting competition. These events were filled with excitement and friendly competition, providing an ideal opportunity to foster a lively atmosphere and deepen connections among the participants.
The students are currently undergoing practical training across three main tracks: Zain’s branches, media institutions Kuwait News and Kuwait Times, and a newly introduced operational and technical track with the program’s partner V-Thru. Participants are engaged in diverse fields including customer service, sales, digital marketing, content creation, journalism and logistics.
A total of 35 university students from various academic backgrounds are participating in the program, working part-time at their assigned placements through intensive tracks designed to hone their personal and professional skills, develop their leadership capabilities, and offer them real-world experiences aligned with the fast-evolving digital job market.
The Zain Summer Program is one of the company’s leading sustainable community initiatives, launched under the Future University Network – FUN platform. Year after year, it continues to provide real and inspiring opportunities to help shape a conscious and qualified generation of young national talent. Over the course of six successful seasons, the program has trained more than 220 students, contributing to the preparation of a creative and work-ready generation for the labor market.
New government entity to oversee all charity activities; Humanitarian law to be ready in 2-3 weeks
KUWAIT: Kuwait is launching a three-day donation campaign starting Tuesday, followed by the organization of an air bridge to deliver humanitarian aid to Gaza, according to Assistant Foreign Minister for Development and International Cooperation Hamad Suleiman Al-Mashaan.
Speaking to the press on the sidelines of Peru’s National Day celebration on Sunday, Al-Mashaan said charitable associations across the country will collect funds for the Gaza aid campaign, which will be entirely allocated to the purchase of relief materials through Kuwait Flour Mills Company. “All donations will go toward essential supplies, procured from a trusted local producer with the capacity to meet immediate needs,” he said. Once the donations are collected, the Ministry of Defense — specifically the Kuwait Air Force — will coordinate the transportation of aid using a Kuwaiti military aircraft. Shipments will be sent via two routes: to Al-Arish in Egypt, where they will be handed over to the Egyptian Red Crescent in coordination with the Kuwait Red Crescent Society, and to Jordan for further delivery to Gaza.
Ambassador Hamad Al-Mashaan
Unified charity system
Al-Mashaan also noted that Kuwait is in the final stages of approving a comprehensive law to regulate charitable work and strengthen oversight over the sector. A key feature of the law is the creation of a governmental ‘center’, dedicated to humanitarian work, serving as a unified authority overseeing all aspects of charitable activities.
The center will oversee the registration of charity associations, organize relief campaigns, monitor international donations, and issue all necessary approvals — streamlining processes and reducing the need for associations to navigate multiple government entities.
The new law, which has been developed over seven high-level committee meetings chaired by the First Deputy Prime Minister and Minister of Interior Sheikh Fahad Al-Yousef Al-Sabah, is currently under legal review. It includes frameworks to regulate the operation of charitable societies and foundations, set standards for donation collection, and bring all charitable entities under the umbrella of the new center.
Sheikh Fahad Al-Yousef has tasked Minister of Justice Nasser Al-Sumait with coordinating with the Fatwa and Legislation Department before the law is submitted to the Legal Committee for final approval. “We expect the law to be finalized within two to three weeks,” Al-Mashaan said. “However, implementing the executive regulations and launching the center will take more time and effort, especially with the transfer of staff from the Ministry of Social Affairs.”
He emphasized that in Kuwait’s charitable work, domestic needs will take precedence, followed by support for international causes. The Ministry of Foreign Affairs is playing a leading role in this process, particularly in monitoring international donations and ensuring accountability for overseas projects.