Anti-corruption authority targets cooperative society leadership in financial mismanagement probe.

KUWAIT CITY, June 16: In a pioneering move for Kuwait’s cooperative sector, Rawda and Hawally Cooperative Society has launched a 24-hour online delivery service through its dedicated mobile application, reports Al-Rai daily. The new service covers all areas of Kuwait, including chalets and farms, marking a significant milestone in the digital transformation efforts of the cooperative. Omar Ahmed Al-Ansari, Vice Chairman of the Board of Directors and Head of the Technical Committee and Investor Branches at the cooperative, pointed out that this initiative reflects the commitment of the cooperative to providing a seamless and modern shopping experience that meets the expectations of Rawda and Hawally residents. “The service is accessible to all consumers—shareholders and non-shareholders — with an option to enter their cooperative fund number when placing an order,” he revealed. Al-Ansari explained that the application offers access to a variety of departments, including the Perfumes and Beauty Center, Rawda Pharmacy, Rawda Café and Bakery, as well as the main cooperative market, allowing users to shop conveniently from multiple sections.

“This digital leap comes as part of our innovative response to the temporary closure of the central market for renovations, which will continue until Oct 15. Our goal is to maintain uninterrupted service and ensure that our community continues to receive the highest level of support without disruption,” he asserted. He added that while the central market undergoes renovation, all spare parts branches and central markets in Hawally will remain operational around the clock to ensure the continued presence and accessibility of the cooperative. “Achievement is a mindset. We are committed to advancing on all fronts through projects and initiatives that strengthen our leadership in the cooperative sector, always striving to deliver the best for the people of Rawda and Hawally,” he stressed.

He reaffirmed the Board of Directors’ commitment to food security and the sustainable provision of strategic stock; noting that this remains a key pillar of the long-term strategy of the cooperative, implemented under the direct supervision of the Ministry of Social Affairs and Labor. He expressed his sincere appreciation to Minister of Social Affairs and Labor Dr. Amthal Al-Huwailah for her continuous support for cooperative development, her encouragement of innovative initiatives, and her dedication to empowering young leaders in the sector. He also extended gratitude to the board members and the hardworking national staff at the cooperative, whose tireless efforts and strong sense of responsibility have been instrumental in the success of this national cooperative project.

KUWAIT CITY, June 16. The Central Bank of Kuwait has issued a circular reinforcing the regulatory framework for all electronic payment service providers, electronic money institutions, and payment system operators.

The circular mandates strict compliance with regulations governing the use of the Electronic Payment Services Gateway System, as part of the Central Bank’s ongoing efforts to enhance governance, operational oversight, and risk mitigation in the digital payments sector.

This directive is part of a series of measures aimed at safeguarding the country’s digital financial infrastructure integrity and strengthening public trust in electronic payment systems amid their rapid expansion.

The circular stipulates the obligations of service providers as follows:

– Bear full legal responsibility for the accuracy and validity of all documents and data uploaded through the Gateway System. Violations may result in the enforcement of Article 85 of Law No. 32/1968 concerning Currency and the Regulation of the Banking Profession.

– Documents must be submitted only by the legal representative of the company (Chief Executive Officer or General Manager) or an officially authorized employee (Compliance Officer or designated staff member). The Central Bank must be formally notified of all authorizations and any amendments in advance, through the prescribed mechanism.

– Must promptly inform the Central Bank about resignations involving authorized system users and immediately request the revocation of their access rights.

– Must retain original copies of all documents, especially the official documents issued by government entities, including criminal record certificates related to partners and leadership candidates. These must be submitted to the Central Bank upon request. The circular reflects the commitment of the Central Bank to intensify digital oversight and ensure legal accountability. It aims to improve internal controls within service providers, protect against unauthorized actions, and reduce operational and reputational risks. For consumers, it reinforces trust in the security and integrity of the national e-payment system. The circular also cited the following regulatory tools:

– Article 33 of the Central Bank’s Instructions for Regulating Electronic Payment Business (May 14, 2023) requires firms to establish governance policies, procedures, and oversight mechanisms. – Article 27 of the same instructions requires compliance with Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) obligations under Law No. 106/2013 and relevant FATF standards.

– Central Bank Circular (July 5, 2023) on leadership appointment regulations.

– Central Bank Circular (Oct 20, 2024) on documentation requirements for registration of partners and board members. Service providers must conduct an annual review to ensure board members and key employees meet the required solvency, integrity, and technical competence standards.

Any changes affecting these standards must be addressed immediately and reported to the Central Bank in writing. They must also retain documentation evidencing the completion of these reviews.

Axel Baroux, Director of the Near and Middle East region at Business France

PARIS, France, June 16: France will host the Gulf Vision 2025 conference on June 17–18 in Paris under the patronage of French President Emmanuel Macron, aiming to deepen economic cooperation and forge long-term partnerships between Gulf Cooperation Council (GCC) countries — especially Kuwait — and France.

In an interview with KUNA, Axel Baroux, Regional Managing Director for the Near and Middle East at Business France, emphasized that the upcoming conference will serve as a pivotal platform to promote strategic collaboration. The event will bring together ministers, investors, industry leaders, and innovators to foster partnerships in sectors such as energy transition, healthcare, artificial intelligence, sustainable agriculture, transportation, tourism, and education.

Baroux highlighted the alignment between Kuwait Vision 2035 and France 2030, stressing that both countries are focused on sustainable innovation and economic diversification. He noted that Kuwait has played a significant role in previous editions of the conference, reflecting mutual interest in enhancing bilateral ties.

The 2025 edition is expected to mark a turning point in Gulf–France economic relations. By facilitating direct engagement between French companies and Gulf decision-makers, the conference aims to move beyond dialogue to practical agreements and projects.

France is currently the leading European investor and the eighth-largest global investor in Kuwait. More than half of the European companies operating in Kuwait are French, providing over 2,100 job opportunities, particularly in infrastructure, transportation, energy, and health.

Baroux pointed to the growing cooperation in healthcare, education, green technology, and services, aligned with Kuwait’s strategy to diversify its economy. He added that France’s presence in Kuwait spans 89 companies across key sectors including luxury, cosmetics, food, and infrastructure.

Business France, the conference organizer, works with approximately 2,000 French companies annually across the Gulf. It offers support in B2B matchmaking, market research, startup facilitation, and talent mobility. The agency also assists Kuwaiti firms looking to enter the French market by offering consulting, legal, and financial services, and access to government and research institutions.

Calling on Kuwaiti investors and decision-makers to participate in Gulf Vision 2025, Baroux underscored the importance of turning conversations into concrete collaborations. Specific focus areas for Kuwait include health infrastructure, solar and renewable energy, water and waste management, AI, smart agriculture, and vocational training.

The event will feature high-level sessions, including a “2030 Plans” ministerial roundtable and an “Innovation for Sustainability” dialogue exploring resource management and future technologies. Baroux concluded by reiterating France’s openness to long-term partnerships grounded in innovation, shared growth, and economic resilience.

Business France, a leading government agency, is spearheading the initiative to bolster France’s international economic outreach and attract foreign investment.