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

Kuwait enforces eviction of charities from private housing

Published

on

By

KUWAIT: Kuwait Municipality launched Thursday its first field inspection campaign to evacuate charity associations and foundations operating in private and model residential areas across the six governorates.

Private residential areas are low-density zones reserved for single-family housing, primarily intended for Kuwaiti citizens, where land is distributed through the country’s housing welfare program. In contrast, investment housing areas feature multi-unit buildings — such as apartments, duplex villas, and studios — designed for rental or ownership across all floors.

The campaign comes following a request from the Ministry of Social Affairs to Kuwait Municipality to enforce Ministerial Decision No. (206/2009) — which prohibits the use of buildings in private residential areas for any purpose other than private housing. The ministry began surveying all registered charities — approximately 84 organizations with over 200 branches across the country — earlier this month to take legal action against those located in private residential zones.

Khaled Al-Fadhli, Head of the Emergency Team at Ahmadi Municipality, told Kuwait News Agency (KUNA) that field teams had issued warnings to several charity premises over the past days, ordering them to vacate. On Thursday, the teams inspected five areas — Fahaheel, Fintas, Ali Sabah Al-Salem (Umm Al-Hayman), Sabah Al-Ahmad Residential City, and Al-Sabahiya — issuing 15 evacuation warnings. Al-Fadhli praised the cooperation of some associations that voluntarily removed their violations in Al-Ahmadi Governorate.

Al-Fadhli stressed that the monitoring teams will not tolerate any violations of Kuwait Municipality’s regulations and laws, emphasizing that field campaigns will continue over the coming days across different governorates.

This move is part of a wider regulatory reform of Kuwait’s charitable sector. Last month, the ministry suspended all charitable fundraising nationwide, citing concerns about unauthorized campaigns. Since November 2024, Minister of Social Affairs Dr Amthal Al-Huwailah has dissolved at least 30 charities found inactive after inspections. These measures are designed to eliminate inactive or ineffective organizations and ensure that resources are being used efficiently.

These reforms also align with Kuwait’s efforts to improve financial oversight and comply with international anti-money laundering standards. A Financial Action Task Force (FATF) report released in November 2024 acknowledged Kuwait’s legal framework to combat illicit finance, but pointed to enforcement challenges. Countries that fall short of FATF standards risk being greylisted or blacklisted, which can affect global financial relations. Kuwaiti authorities have since ramped up coordination among ministries to tighten control, particularly over cross-border donations. Officials say these efforts aim to uphold Kuwait’s humanitarian leadership while meeting international best practices. — Agencies

Continue Reading

Latest News

Indian Learners Own Academy visits Kuwait Times, Kuwait News

Published

on

By

KUWAIT: A group of students from Indian Learners Own Academy visited the offices of Kuwait Times and Kuwait News on Monday for an interactive media tour on Thursday. Aimed at sparking curiosity and creativity, the visit gave students a glimpse into the dynamic world of journalism beyond the classroom. Thursday’s visit was the second this week, after another group of students from the academy explored Kuwait Times and Kuwait News on Wednesday.

Jana Alnaqeeb, Kuwait Times’ PR & CSR Manager, led the tour alongside members of the digital and editorial teams. The students explored various departments, including the editorial section, studio, printing press, and archives, gaining firsthand insights into how news stories are created, edited, and published. They also learned about the importance of credible reporting and how social media content is crafted to engage younger audiences.

Adding a playful twist to the visit, the team organized a game of hide and seek for the students, who dashed through the newsroom and turned the space into a lively, energetic environment.

The visit was part of the school’s initiative to blend education with real-world exposure and Kuwait Times’ ongoing mission to connect with and inspire future generations.

Continue Reading

Latest News

AUK students unite for Gaza with ‘Play it Forward’ awareness event

Published

on

By

KUWAIT: The Finance Club at the American University of Kuwait (AUK) organized an awareness event titled “Play it Forward” on Wednesday, in collaboration with the Office of Student Life and 12 student organizations, to shed light on the ongoing humanitarian crisis in Gaza. Speaking to Kuwait Times, Shoroq Bukhamsin, President of the Finance Club, said the event’s primary aim was to amplify awareness. “We wanted people to remember the cause, to remember the people. It’s still relevant and it will never stop being relevant,” she said.

A key feature of the event was an emotional art exhibition titled “Gaza Habibti” by Untold Palestine, which displayed photographs of Gaza’s people before and after the war. “The gallery traces the emotional journey — beginning with life before the war, then documenting the devastation and personal stories from the current conflict,” Bukhamsin explained. “It reminds us they are not just numbers. They are souls, families, daughters and sons.”

The exhibition also included large-scale installations by regional artists, including a moving piece known as the Martyr’s Wall, which displayed photos of 1,300 Palestinians who lost their lives. “This is not even a fraction; the current death toll exceeds 50,000,” Bukhamsin noted. She extended heartfelt thanks to AUK, faculty advisors, club executives, supporting businesses, and Kuwait Times for their support and coverage.

Jumanah Al-Bloushi, Vice President of the Finance Club, said the event also featured an open market and game zone. Local businesses and food vendors participated, pledging 25 percent of their proceeds to humanitarian causes related to Palestine. Attendees were encouraged to donate through interactive games.

A performance show by ArtScene and Argan Bedaya capped the event, featuring music, poetry and storytelling in tribute to Palestinian identity and resilience. Al-Bloushi praised the collective spirit: “It’s so beautiful to see so many different organizations come together just to make this happen today.” She added, “This event is a reminder that even after a year, the Palestinian cause is still relevant and we will not let it be forgotten.”

Mishari Al-Ibrahim, a member of the Boycott, Divestment and Sanctions (BDS) movement in Kuwait, also participated in the exhibition. He emphasized the boycott as a powerful form of resistance: “Here in Kuwait, we’re pioneers and active in this field,” he said. “These events allow us to explain the different forms of boycott — commercial, academic and sports — as tools to counter normalization and raise awareness.”

He encouraged individuals to engage by staying informed and making conscious choices. “At the very least, refrain from buying targeted products and raise awareness among your family and peers,” he said. “When you have the right information, you become a source of knowledge. That’s how you become an active member of the global boycott movement and part of the change.”

Continue Reading

Trending

Copyright © 2025 SKUWAIT.COM .