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Weyay Bank Sponsors the Fourth Edition of ‎‎’Derasti’ Exhibition, Empowering Students ‎Financially Through Digital Solutions

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KUWAIT CITY, Apr 8: Under the patronage and presence of the Minister of Education, Sayyid Jalal Al-Tabtabei, and ‎with the attendance of Mohammed Al-Othman, Chief Executive Officer of Personal and Digital ‎Banking at National Bank of Kuwait, and Head of Weyay Bank, Amal Al-Duwaisan, Weyay ‎Bank, Kuwait’s leading digital bank, announces its active and distinguished participation in the ‎fourth edition of the “Derasti” Exhibition. The event, which commenced on Monday and ‎continues until April 10th, is taking place at the Mishref International Fairground, Hall 8, with ‎the participation of over 120 local and international universities, as well as various entities from ‎the public and private sectors.‎

The exhibition is considered the most prominent educational event in Kuwait, with its activities ‎holding paramount importance for high school students. It serves as a central meeting point that ‎allows them to explore a wide range of educational opportunities available after completing their ‎secondary education. During his opening address, the Minister Sayyid Jalal Al-Tabtabai ‎emphasized the significance of community partnership and continuous collaboration between the ‎public and private sectors through this exhibition, which contributes to enhancing students’ ‎awareness and assisting them in choosing specializations that align with their future aspirations, ‎in line with the “New Kuwait 2035” vision.‎

The exhibition provides students with a unique platform for direct interaction with ‎representatives from local and international higher education institutions. This allows them to ‎learn about diverse academic programs, admission requirements, available scholarships, and all ‎matters related to their academic and professional future. Weyay Bank’s participation in this ‎important event stems from its firm belief in the vital role it plays in supporting and empowering ‎Kuwaiti youth in their educational journey towards building a bright future.‎

Weyay Bank’s active participation in the “Derasti” Exhibition underscores its deep commitment ‎to supporting the education sector and empowering students in the State of Kuwait. Weyay ‎Bank believes that investing in the education of youth is an investment in the nation’s future. It ‎strives to be an active partner in providing them with the necessary tools, knowledge, and ‎opportunities to realize their full potential and contribute effectively to building a more ‎prosperous and advanced future for Kuwaiti society. The bank views young people as the leaders ‎of tomorrow and agents of change, and it takes pride in its role in supporting their educational ‎journey and enabling them to achieve their dreams and aspirations.‎

Regarding banking products and services, Weyay Bank is highlighting the digital banking ‎experience it offers, which helps students seamlessly open their bank accounts within minutes ‎without the need to visit a bank branch. In addition to the ease of account opening, Weyay Bank ‎places great importance on simplifying the money transfer process, as the application allows ‎students to make instant and secure financial transfers to any other account inside or outside ‎Kuwait in just a few steps. Most importantly, student allowances can be transferred digitally to ‎their Weyay accounts, and they can obtain the digital prepaid SELECT card, which specifically ‎targets allowance customers and features a range of exclusive benefits tailored to the lifestyle ‎and daily needs of university students. These benefits include cashback offers on their purchases ‎and special discounts at a wide network of stores, restaurants, cafes, and services favored by ‎young people.‎

Through its interactive booth at the exhibition, Weyay Bank is keen to provide a rich and ‎beneficial experience for visiting students. The booth features a number of activities that cater to ‎their passion for their fields of study and encourage them to keep pace with digital ‎transformation and pursue specializations that are currently in demand in the market. Weyay ‎Bank aims through these activities to create an interactive environment that combines benefit and ‎entertainment, transforming the process of exploring the future of education into an enjoyable ‎and unforgettable experience.‎

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CMA launches regulatory framework for emerging companies on KSE

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CMA launches regulatory framework for emerging companies on KSE

Kuwait enhances Stock Exchange access for emerging firms with amendments to listing rules.

KUWAIT CITY, July 1: Kuwait’s Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules.

In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection.

The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations.

The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait’s broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards.

The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks.

The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments.

Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes.

This latest move is seen as a significant step toward further modernizing Kuwait’s financial sector and creating a more inclusive and diversified capital market landscape.

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Second phase of merging Kuwait oil companies underway

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KUWAIT CITY, June 30: In preparation for the second phase of merging the subsidiaries of the Kuwait Petroleum Corporation (KPC), informed sources revealed that the executive phase of merging Gulf Oil Company with Kuwait Oil Company (KOC) has begun through the transfer of the corporation’s shares in the capital of the Gulf Oil Company to KOC. They highlighted a meeting held recently between the two companies’ CEOs to start making administrative decisions regarding this matter. The sources explained that the second phase, following the initial merger of KIPIC with the Kuwait National Petroleum Company, is part of KPC’s strategy to restructure the oil sector. This phase commenced with a meeting between KOC’s CEO Ahmed Al-Eidan, acting CEO of Gulf Oil Company Bader Al-Munaifi, and representatives from the oil sector’s leadership and workforce. The meeting also discussed the implications of Decision No. 60/2024, issued on May 5, 2024, concerning the transfer of KPC’s ownership of shares. ‘

Al-Eidan affirmed the importance of job stability and preserving all benefits of Gulf Oil employees. It was decided that the legal and administrative status of Gulf Oil Company will remain unchanged at this stage, including the company’s name, logo, and operational sites at its headquarters and joint operations in Khafji and Al-Wafra. The sources clarified that Al-Eidan indicated the change is limited solely to the transfer of share ownership, with KOC becoming the owning entity instead of KPC. Consequently, the highest authority will be the Board of Directors of KOC, without affecting daily operations or the current institutional structure.

By Najeh Bilal
Al-Seyassah/Arab Times Staff 

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Kuwait enhances laws to combat money laundering and terror funding

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Kuwait enhances laws to combat money laundering and terror funding

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.

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