Now, GMs in Kuwait Will Receive a KD 2,500 Minimum Salary
If the conditions for filling the position do not apply to candidates from within the government entity, nominations may be made from outside the entity, provided the candidates meet all the conditions for filling the position.
Each of such cases must be presented to the CSC individually.
In all cases, the number of appointees to the position of 'General Manager' from outside the government entity must not exceed 40 percent of the total number approved for the position in the entity's organizational structure.
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KUWAIT CITY, Aug 5: Faced with difficulties and obstacles, 30 percent of food truck owners have currently ceased operations. In separate interviews with Al-Seyassah, they listed the challenges that led to this outcome. The most prominent among them is the refusal to allow parking in vital areas such as markets, tourist zones, and investment zones. This restriction has deprived them of expected financial returns, especially since the designated areas by the relevant authorities are relatively remote and lack sufficient traffic and activity. They also requested to be allowed to serve hot drinks with light meals, as they are currently prohibited from preparing coffee with meals. The details are as follows: Hamad Al-Enezi, owner of one of the projects, said he faces several obstacles in his business, most notably the lack of sufficient space in vital areas, as they are not allowed to park their food trucks in front of cooperative societies and shopping malls. He revealed that his profits from this project do not exceed KD 800 per month. Meanwhile, Hamdan Al-Abdullah believes that mobile cart projects are on the verge of extinction for several reasons, the most important being that a large segment of citizens travel abroad for their summer vacations, coupled with the fact that Kuwait is not a tourist country. He explained that many citizens do not accept mobile carts parking in front of parks located in private residential areas. Also, some official service agencies refuse to allow young entrepreneurs to park their mobile carts in the squares in front of their buildings. Young Kuwaitis who own carts specialized in printing services also face a lot of problems. In a related context, Hamoud Al-Ali said obstacles in obtaining licenses are ongoing, and they are no longer allowed to park in vital areas that could boost sales. Most of the locations permitted by the relevant authorities are in places with little to no activity, although a young entrepreneur may pay KD 30,000 to purchase a fully equipped cart. Comply He called for allowing mobile carts to park in vital areas such as busy and tourist markets like Souk Mubarakiya. In this regard, Haitham Al-Mutairi stated that mobile vehicle owners comply with all health and environmental requirements but must be allowed to park in the most important areas, especially investment zones. He stated that although there are approximately 3,250 mobile vehicles, parking spaces are limited to only 300, most of which are unprofitable, forcing 30 percent of project owners to cease operations completely. Al-Mutairi also highlighted other issues they face, such as the ban on transferring ownership of mobile vehicles, which creates further problems, as a young person who completes his project must then apply to the Civil Service Commission to obtain a job. 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He emphasized that all parties should support the owners of these projects, especially since they chose this path and have helped reduce the burden on the government by creating jobs. He expressed hope that the relevant authorities would allow mobile vehicles to park in areas near investment zones that witness crowds of both citizens and expatriates, as well as permit them to operate in major markets without issuing violations against mobile cart owners. Meanwhile, an informed source at the Ministry of Commerce and Industry explained that the ministry grants mobile cart licenses if the required conditions are met. These conditions include that the applicant must be at least 21 years old and not a government employee, along with the necessity of committing to practice only permitted activities. The ministry is not strict with mobile cart owners but requires them to obtain licenses, especially since there are convenient options to submit applications online through the ministry's website. It also mandates that approved parking spaces must not be violated. Other requirements for selecting locations include ensuring they offer suitable environmental conditions and do not disrupt traffic. The ministry has provided about 300 parking spaces, and project owners can choose their preferred location. It requires project owners not to engage in two activities simultaneously, such as preparing meals and making coffee at the same time. The cart must be equipped with adequate lighting, and the area designated for selling must be thermally separated from the food preparation area. Also, the mobile cart must not be older than 10 years. 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Arab Times
2 days ago
- Arab Times
Now, GMs in Kuwait Will Receive a KD 2,500 Minimum Salary
KUWAIT CITY, Aug 3: The Civil Service Commission (CSC) issued a decision stipulating that those holding the 'General Manager' position with a total monthly salary of less than KD2,500 (excluding children's allowance) will be granted an increment; such that their salary is raised to this amount. Sources said the 'General Manager' is a newly created position in the organizational structure of ministries, governmental departments, and public bodies and institutions subject to the law and system of the CSC. Sources revealed that nominations for this position may be made from outside the government entity, provided these three conditions are met: If the conditions for filling the position do not apply to candidates from within the government entity, nominations may be made from outside the entity, provided the candidates meet all the conditions for filling the position. Each of such cases must be presented to the CSC individually. In all cases, the number of appointees to the position of 'General Manager' from outside the government entity must not exceed 40 percent of the total number approved for the position in the entity's organizational structure.
Arab Times
14-07-2025
- Arab Times
Boursa Kuwait to launch sukuk, bond trading in 2025
KUWAIT CITY, July 14: Chief Executive Officer (CEO) of Boursa Kuwait Mohammad Al-Osaimi said the timeline for debt instrument trading is proceeding as planned, indicating that sukuk and bonds will be traded in 2025. He affirmed that all technical tests for index funds and the bond and sukuk market have been completed, and the regulatory rules are currently being prepared and will be announced within the next few months. Al-Osaimi announced on the sidelines of the launch of the second part of the third phase of the Capital Market Development Program, which is a major milestone that reflects the market system's commitment to continue development per international best practices. Regarding the expected volume of debt instrument trading on the stock exchange, Al-Osaimi explained, 'The current value of commercial debt instruments does not exceed KD2 billion, but after the approval of the Debt Law, we aspire to list government bonds and sukuk'. He pointed out that the stock exchange has a development program extending over three or four years to introduce major updates to its trading system. He revealed 'we will begin testing the new trading system in the second half of 2026.' He stated that the stock exchange is cooperating with the Capital Markets Authority (CMA) to review several products to better present them, stressing that the introduction of the CCP and the Central Broker will help the stock exchange offer financial derivatives soon. He explained that these developments will lead to attracting foreign investments, coinciding with increased investor confidence. About amending the listing requirements on the main market, Al-Osaimi confirmed that 'when the reduction of listing requirements on the main market was approved by reducing the company's capital limit from KD15 million to KD5 million, we received numerous communications from subscription managers in this regard.' He anticipates listings shortly. He disclosed that two family companies are currently negotiating with the stock exchange for listing, explaining that the stock exchange intends to attract companies in various sectors, including commercial, government, and family businesses. He said the listing procedures and requirements are not easy, as companies are being reorganized and prepared for this step, which may require a period that may extend to several years. He clarified that there is currently no intention to list oil sector companies, disclosing that there have been discussions with the Public-Private Partnership Authority to list a government company such as North Al-Zour next year. He added, 'The launching of the second part of the third phase of the Capital Market Development Program -- the main station -- reflects the market system's commitment to continue development following international best practices.' He emphasized that 'this achievement is a qualitative shift in the development process of the market and it is the result of the concerted efforts of CMA, Central Bank of Kuwait, Kuwait Clearing Company, Boursa Kuwait, and our partners from banks, investment companies and financial brokerage companies.' He confirmed that this phase witnessed a comprehensive development of the operational and technical infrastructure, including strengthening the clearing and settlement system, upgrading and modernizing trading systems, and improving the market structure through the implementation of the 'Qualified Broker' model and the application of more accurate and transparent mechanisms for account management. He explained that this achievement affirms the readiness of the market for more advanced stages in the future, and a shared vision for an efficient and flexible financial market capable of supporting economic development and attracting investments. He confirmed Boursa Kuwait's commitment to continue this journey, in partnership with all stakeholders, to ensure sustainable development and enhance the position of Kuwait as an advanced regional financial center. On the other hand, Director of the Trading Department at CMA Khaled Al-Sahli stated that the second part of the third phase of the Capital Market System Development Program includes the provision of financial products. 'Trading and post-trading have been activated through the applicable systems, in addition to preparing the structure of the articles, executive regulations and the stock exchange rules,' he disclosed. Al-Sahli indicated that work is underway to approve the executive regulations after the completion of the rules and regulations for settlement and litigation in the Central Depository, which will happen soon. He asserted, 'This development step contributes to boosting confidence among foreign investors and increasing foreign inflows, especially with the implementation of the CPP.' He asserted that such steps taken by the Kuwaiti market open new horizons for brokerage firms. Abdul Karim Al-Yaqout – Director of Strategy and Product Development at Kuwait Clearing Company – pointed out that the third phase is the cornerstone in the process of developing the infrastructure for post-trade operations, led by CMA and implemented by Kuwait Clearing Company, in cooperation with Boursa Kuwait and the Central Bank of Kuwait. Al-Yaqout added that Kuwait Clearing Company plays a vital role in the areas of clearing, settlement, depository, collateral management and risk mitigation; thereby, contributing to the alignment of the Kuwaiti capital market with international standards, such as IOACO and PFMI. He affirmed that there is a reconciliation period extending six months from the start of the phase, in addition to another phase for transferring client funds to brokerage firms after obtaining their approval. He said a date has been set for this phase and July 17 is the deadline for this step
