KUWAIT: The General Administration of Customs announced Thursday the reactivation of the International Road Transport (TIR) Agreement, aimed at enhancing trade exchange, streamlining transit procedures, and facilitating the movement of goods, trucks, and drivers through land border crossings. In a press statement, the administration said the reactivation of the agreement comes under the directives of First Deputy Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al-Sabah. The move reflects Kuwait’s commitment to supporting the international land transport system and implementing global standards that facilitate trade and transport while aligning with the country’s goals to enhance customs services.

The administration noted that the reactivation marks a significant step toward improving regional trade efficiency and achieving national economic objectives. It added that the initiative followed intensive coordination efforts with the International Road Transport Union, as well as customs authorities in Iraq and Turkey, to ease transit procedures and ensure the smooth flow of cross-border transport operations. The TIR system is designed to simplify and secure international land transport, offering faster customs clearance and reduced costs for commercial operators, thereby reinforcing Kuwait’s position as a vital logistics hub in the region. — KUNA

Head of the Financial Investigation Unit, Dr Hamad Al-Mekrad and CEO of (Sci Net), Mai Al-Awish, during the signing of the Memorandum of Understanding.- KUNA photos

KUWAIT: Kuwait’s Financial Intelligence Unit (FIU) signed a Memorandum of Understanding (MoU) with the Kuwait Credit Information Network Company (CINet) on Thursday, aiming to strengthen the exchange of credit information and enhance joint mechanisms to combat money laundering and terrorism financing. Head of the FIU, Dr Hamad Al-Mekrad, told KUNA that the agreement is part of the unit’s strategic approach to expand cooperation with key players in the financial ecosystem, particularly credit institutions that serve as frontline monitors of suspicious financial activity. Dr Al-Mekrad described the MoU with CINET as a qualitative step forward in integrating the private sector into the national framework for combating financial crimes. He praised CINet’s commitment to regulatory standards and its development of an advanced, reliable credit information system.

He further noted that the partnership aligns with the FIU’s broader strategy to foster a flexible and modern regulatory environment based on accurate data and credit analysis, which are critical tools for early detection of financial risks. Al-Mekrad lauded CINet’s role in strengthening financial sector cooperation and its dedication to implementing this collaboration through a secure and organized institutional data exchange mechanism, contributing to national objectives and the goals of New Kuwait Vision 2035.

In a similar statement, CINet CEO Mai Al-Owaish affirmed the company’s awareness of its vital role in promoting financial security, emphasizing that the MoU will bolster the efficiency of the national compliance system. Al-Owaish highlighted that safeguarding the financial system requires joint efforts from both public and private sectors, and that this partnership sets a foundation for a sustainable and collaborative approach in protecting Kuwait’s financial stability. CINet is Kuwait’s sole provider of credit information and credit ratings. It operates under the supervision of the Central Bank of Kuwait and in accordance with Law No. 9 of 2019 regulating the exchange of credit information. — KUNA

KUWAIT: Governors of Kuwait’s six governorates convened Thursday to explore ways to enhance coordination and joint efforts in key areas related to business development, public service upgrades and the responsibilities of governorate councils. The discussions were held at the office of Farwaniya Governor Sheikh Athbi Nasser Al-Athbi Al-Sabah, according to a press statement issued by the Farwaniya Governorate.

The meeting was attended by Capital Governor Sheikh Abdullah Salem Al-Ali Al-Sabah, Mubarak Al-Kabeer Governor and Acting Hawally Governor Sheikh Sabah Bader Sabah Al-Salem Al-Sabah, Jahra Governor Hamad Al-Habshi, Ahmadi Governor Sheikh Humoud Jaber Al-Ahmad Al-Sabah, and Director General of the General Department of Administrative Affairs at the Ministry of Interior Sheikh Nasser Mohammad Al-Jarrah Al-Sabah.

According to the statement, the gathering reflected a continued commitment to strengthening cooperation among governorates and relevant government bodies. The governors affirmed that such coordination aims to unify efforts, promote a spirit of teamwork, and support the wise leadership’s vision to elevate the quality of services provided to citizens and residents.

Farwaniya Governor Sheikh Athbi emphasized that these meetings serve as a vital platform to enhance inter-governorate collaboration, align development strategies, and adapt to ongoing urban and demographic changes. He noted that the integration of efforts contributes to refining administrative mechanisms in line with the state’s general policy and the aspirations of the public.— KUNA