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Burgan Bank Reiterates Commitment to Women ‎Empowerment at Kuwait Women’s Day Forum

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KUWAIT CITY, May 18: As part of its unwavering dedication to employee empowerment, gender equity, and sustainable ‎development, Burgan Bank recently participated in a forum celebrating Kuwait Women’s Day. ‎Representing the Bank at the event, titled “Strategies to Empower Kuwaiti Women in ‎Accordance with the Fifth Goal of the Sustainable Development Goals (SDG 5)” and held under ‎the patronage and in the presence of H.E. Dr. Amthal Al-Huwailah, Minister of Social Affairs, ‎Family and Childhood Affairs, was Ms. Danah Faisal Al Jasem – General Manager of Corporate ‎Communications and a group of female leaders at Burgan Bank. Al Jasem took part in a focused ‎session along side distinguished female figures to discuss the private sector’s role in empowering ‎women, while exploring strategies to help women over come challenges and barriers in the ‎workplace.‎

Reflecting on her participation in the forum, Al Jasem said: “It was a privilege to join a dialogue ‎that reflects the growing momentum around women empowerment in Kuwait, and to contribute ‎to a conversation that aligns so closely with Burgan Bank’s core values and Kuwait’s Vision ‎‎2035.”‎

She also highlighted Burgan’s ongoing commitment to gender equity and employee ‎empowerment, saying: “At Burgan Bank, fostering a diverse, equitable, and inclusive workplace ‎is not just a moral imperative but also a strategic necessity for long-term success. Driven by our ‎overall ESG strategy, we believe that true equity provides a work environment with equal ‎opportunities and adheres to fulfilling the employees’ needs. Accordingly, Burgan Bank actively ‎supports women in the workplace by expanding opportunities for skill development, career ‎advancement, and financial independence, empowering them to grow on a personal level, ‎support their families, and positively impact the wider economy. This commitment is reflectedin ‎equal benefits for women and men, flexible working hours, work-life balance initiatives, and ‎additional self-care leave.”‎

Ms. AlJasem also underscored the importance of translating strategy into measurable progress, ‎highlighting Burgan’s achievements in female representation and inclusive workplace practices, ‎noting: “We view female empowerment as a collaborative effort, shaped by contribution from ‎relevant stakeholders. Within the workplace, we are committed to fostering an environment ‎where women have equal opportunities to thrive and lead. Across society, we actively support ‎initiatives that promote gender equality and provide women with the resources and support they ‎need to overcome barriers and achieve their full potential. Women currently represent46% of the ‎Bank’s employeesand 34% of leadership positions, making Burgan Bank a leading financial ‎institution in the local Kuwaiti market. Our current position aligns with the national vision for ‎boosting female representation in public and private sectors.”‎

It is worth mentioning that Burgan Bank continues to invest in initiatives that support the growth ‎of female employees at all levels. In 2024, employees received an average of 33 hours of ‎training, delivered through both digital and in-person platforms. Programs like Empower Her and ‎Lean-In Circle for Women Empowerment provide dedicated mentorship, professional skills, and ‎networking opportunities to help women work toward their goals. Burgan Bank remains ‎committed to enabling more women to pursue leadership positions and guide younger ‎generations of women professionals to follow their lead. ‎

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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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