Connect with us

Latest News

SME fund backs 1,040 projects, boosting talent

Published

on

KUWAIT: The Acting Director-General of the National Fund for Small and Medium Enterprise Development, Heba Al-Refai, announced Sunday that 1,040 projects are currently active under the fund’s sponsorship, spanning across various sectors of the economy.

Speaking to the Kuwait News Agency (KUNA), Al-Refai said that commercial sector projects make up about 40 percent of the fund’s portfolio, matched by another 40 percent from the service sector. Industrial projects account for 14 percent, while craft and agricultural projects represent four percent and two percent respectively. She noted that these projects form a key part of Kuwait’s entrepreneurship support system, with the fund prioritizing technical and administrative backing to help ensure their operational efficiency, sustainability, and long-term growth.

Reviewing policies

Al-Refai emphasized the fund’s efforts over the past period to diversify its financing portfolio to meet the evolving needs of the local market. She also revealed that the fund is currently reviewing its policies and operational procedures to enhance the effectiveness of its support and to achieve greater developmental impact. She stressed that these efforts are part of a broader commitment to align with best practices and applicable regulations, while also boosting collaboration with several government entities to support entrepreneurs and startups.

Al-Refai praised the fund’s ongoing cooperation with entities such as the Ministries of Commerce, Finance, and Information, the Public Authority for Industry, the Public Authority of Manpower, the Customs Directorate, the Central Agency for Public Tenders and the Ministry of Social Affairs. This integrated approach, she said, aims to simplify procedures and create a more supportive environment for the growth of small and medium-sized enterprises (SMEs) in Kuwait.

Launch of “Mubader Plus”

Highlighting recent initiatives, Al-Refai spoke about the “Mubader Plus” program, designed to empower SME owners and equip them with the skills needed for a knowledge-driven economy. The four-month program included specialized workshops on strategic content development, marketing, legal and accounting practices, and market analysis. It also featured one-on-one mentoring sessions with expert advisors and consultants.

Al-Refai described “Mubader Plus” as a reflection of the fund’s belief that true investment lies not only in financial support but also in building entrepreneurs’ capacities for understanding, analysis, and management. She emphasized that the program arrived at a critical time, responding to rapid economic and technological changes, and aimed at enabling young Kuwaiti talents to compete, innovate, and adapt. The initiative aligns with Kuwait’s broader vision to support a knowledge- and innovation-driven economy, preparing entrepreneurs to overcome challenges and sustain growth.

Updated loan repayment

Al-Refai also highlighted a major change to the Fund’s loan repayment policy. Under the new system, entrepreneurs will now benefit from the full 15-year repayment period without counting grace periods or installment deferrals within that timeframe. She said the amendment was made in direct response to the needs of small and medium project owners, and is already being implemented, with the Fund now accepting applications under the new terms. Al-Refai affirmed that the decision aims to ease financial pressure on entrepreneurs, enhance project sustainability, and provide clearer regulatory frameworks to support Kuwait’s next generation of business leaders. — KUNA

Latest News

NBK warns customers about risks of fraudulent online shopping offers

Published

on

By

KUWAIT: In line with its unwavering commitment to fostering financial literacy and empowering all segments of society, NBK continues to bolster its support for the “Let’s Be Aware” banking awareness campaign. Spearheaded by the Central Bank of Kuwait in collaboration with local banks and Kuwait Banking Association (KBA). As part of its commitment to customer protection, NBK is actively educating the public about fraudulent online shopping offers, often promoted through social media. These scams typically feature links to fake applications or websites that lure victims with enticing discounts and promotions.

Designed to mimic legitimate platforms, these fraudulent sites deceive users into providing sensitive personal and banking details — such as account and credit card numbers — ultimately compromising their financial security. NBK urges customers to remain vigilant and avoid engaging with suspicious links, reinforcing its dedication to safeguarding the community from cyber threats. NBK advises customers to exercise caution and avoid being misled by deceptive shopping deals that promise steep discounts. The bank emphasizes the importance of verifying website URLs and refraining from clicking on links from unknown sources — especially those received via email that advertise offers that appear too good to be true.

Furthermore, NBK cautions customers about the risks of saving credit card details on e-commerce websites or browsers for faster future transactions. The bank highlights that such platforms are susceptible to security breaches, potentially exposing stored banking data to theft. The Bank also emphasizes that it will never request personal information via email, text messages, or phone calls. Additionally, NBK warns customers against responding to such messages, as they are often fraudulent attempts to steal banking credentials, sensitive data, or funds.

NBK remains vigilant in monitoring emerging fraud tactics, educating customers, and providing clear guidance on how to stay protected. Through comprehensive awareness materials shared across its digital platforms, the bank continuously emphasizes the importance of engaging only with trusted links and avoiding interactions with unidentified sources. Harnessing its vast communication capabilities, NBK utilizes all its digital channels — boasting the largest following among Kuwaiti banks — to ensure the widest dissemination of the campaign’s messages, effectively reaching the largest possible audience.

Led by the Central Bank of Kuwait in partnership with Kuwait Banking Association, “Let’s Be Aware” stands as the region’s most comprehensive financial literacy campaign. Aimed at empowering bank customers, the initiative delivers essential education on critical financial topics. Key focus areas include practical steps to prevent fraud, strategies for maximizing banking services, and fostering a strong culture of savings and investment. By equipping individuals with the knowledge and tools to make informed financial decisions, the campaign strengthens financial security and resilience across Kuwait’s banking sector.

As a leading financial institution in Kuwait and the region, NBK remains a key supporter of the Central Bank of Kuwait’s initiatives aimed at enhancing financial literacy and promoting banking awareness across all segments of society. The bank actively organizes various educational events to keep the community informed about critical banking issues while also investing in specialized training programs for its employees. By strengthening expertise in fraud prevention and financial crime mitigation, NBK reinforces its commitment to safeguarding customers and upholding the integrity of the financial sector.

Continue Reading

Latest News

Kuwait unveils Bayraktar TB2

Published

on

By


Kuwait unveils Bayraktar TB2

Continue Reading

Latest News

Ministry of Social Affairs distributes hearing aids to citizens

Published

on

By

KUWAIT: Minister of Social Affairs, Family and Childhood Affairs Dr Amthal Al-Huwailah on Thursday announced the distribution of the first batch of hearing aids to citizens with hearing impairments, following a years-long suspension. The initiative aims to support their daily lives and enhance their ability to communicate and integrate into society. Speaking to Kuwait News Agency (KUNA), Dr Al-Huwailah emphasized that hearing aids are vital tools that enable individuals to lead independent lives and engage naturally with their surroundings.

“This is just the beginning,” she said, noting that subsequent batches will follow to meet all pending requests, with priority given based on the order of application. She also underscored the commitment of the Public Authority for the Disabled to continue providing a range of assistive and prosthetic devices—including wheelchairs and other essential equipment—to empower individuals with disabilities both psychologically and socially, and to further support their integration into the community. — KUNA

Continue Reading

Trending

Copyright © 2025 SKUWAIT.COM .