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Kuwait sets debt ceiling at KD 30 billion with new decree-law
Kuwait government enhances financial flexibility with new debt management law.
KUWAIT CITY, March 27: Kuwait has issued Decree-Law No. (60) of 2025 regarding financing and liquidity, setting the public debt ceiling at KWD 30 billion (or its equivalent in major convertible foreign currencies). The law also permits the issuance of financial instruments with maturities of up to 50 years, and its validity extends for 50 years from the date of implementation, establishing a long-term legal framework to regulate public borrowing.
In a press statement, Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noura Al-Fassam, emphasized that the law grants Kuwait greater financial flexibility. It allows the country to tap into both local and international financial markets to improve liquidity management, reflecting a strategic approach to keeping pace with global economic developments and ensuring the sustainability of public finances.
Al-Fassam noted that this law is a key part of the government’s efforts to enhance financial stability and support economic development in line with Kuwait Vision 2035. She stressed that it represents an important step in the ongoing process of financial and economic reforms, aimed at building a more diversified and sustainable economy that benefits both the state and its citizens.
Faisal Al-Muzaini, Director of the Public Debt Department at the Ministry of Finance, outlined the main objectives of the decree-law. These include:
– Providing the state with access to various types of financial instruments through both local and international financial markets, allowing financing in Kuwaiti dinars or major convertible foreign currencies. This flexibility offers multiple options for managing public debt and liquidity.
– Developing local financial markets by creating a reference sovereign yield curve, which will enhance the attractiveness of Kuwaiti financial markets and provide an important benchmark for issuances by the banking sector and local companies, ultimately improving the financing structure and reducing borrowing costs.
– Contributing to the financing of major development projects, including infrastructure and other strategic initiatives, which will drive the country’s development forward.
– Stimulating the local economy by boosting the economic cycle, enhancing investor confidence, and attracting more foreign investments to support economic growth.
– Improving the country’s sovereign credit rating, which will positively impact the state’s ability to borrow on competitive terms.
– Ensuring the liquidity of sovereign reserves, maintaining the country’s financial stability, and bolstering the government’s ability to meet its financial obligations under various economic conditions.
Al-Muzaini also highlighted that this decree-law comes at a time when global financial markets are undergoing rapid changes, making flexible access to financing crucial for economic stability. He explained that the new law provides the government with additional financial tools to manage public finances more efficiently, reflecting the state’s commitment to adopting a sustainable financial approach that balances the need to finance development projects with long-term financial sustainability, in line with international best practices in public debt and liquidity management.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
Updated regulations aim to boost fair use and revenue from state properties.
KUWAIT CITY, June 30: The Ministry of Finance announced on Sunday the issuance of a new ministerial decision amending the regulations governing the use of state-owned real estate and service fees, in a move aimed at achieving a fair balance between public interest and the needs of individuals and institutions.
In a press statement, the Ministry said the decision comes as part of its broader efforts to regulate the use of government-owned properties and protect national resources. Ministerial Resolution No. 54 of 2025 introduces amendments to the regulations first outlined in Resolution No. 40 of 2016.
Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noura Al-Fassam, stated that the amendments are intended to ensure fairness, clarify procedures, and improve transparency in the utilization of state assets.
“These changes aim to establish a fair balance in how state-owned properties are used by citizens and entities, while safeguarding public interests,” Al-Fassam said.
She added that the updated regulations were the result of a comprehensive pricing study comparing Gulf and international markets. The amended prices remain below average rates in Gulf Cooperation Council (GCC) countries, and were developed with Kuwait’s economic and social conditions in mind. The goal, Al-Fassam noted, is to promote equal opportunities and secure sustainable revenue streams for the state.
The amendments cover a wide range of activities involving the use of state-owned property, including chalets, rest houses, commercial complexes, cooperative societies, banks, and warehouses. They also apply to educational institutions, sports clubs, and hospitals.
In support of national food security and the promotion of local production, the Ministry also announced the stabilization of agricultural coupon prices under the new regulations.
The revised framework reflects Kuwait’s continued efforts to modernize its public asset management policies while maintaining a strong emphasis on economic fairness, efficiency, and sustainability.
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