Kuwait's Ministry of Finance charts course for fiscal innovation and sustainable growth
The meeting provided an opportunity to discuss the Ministry's evolving mandate, with particular attention given to the implementation of the new Public Debt Law. The legislation establishes a KD 30 billion ceiling on sovereign borrowing across local and international markets, enhancing the capacity of the Central Bank of Kuwait and the Kuwait Investment Authority to manage debt sustainably.
Discussions also highlighted the Ministry's progress in modernising Kuwait's mortgage framework to stimulate private sector lending and expand access to housing finance. Broader reforms in public financial management and fiscal governance were addressed as part of the Ministry's commitment to building a resilient and transparent economic environment.
The Minister also underlined the importance of clear communication with stakeholders as reforms progress.
'By implementing robust public debt legislation and modernising the mortgage regime, we are taking decisive steps to strengthen fiscal resilience and support sustainable growth,' she said. 'It is essential that we convey these developments transparently to global investors and partners.'
Andrew Jeffreys, CEO of Oxford Business Group, welcomed the dialogue and the opportunity to support the Ministry's objectives.
'Our discussion with Her Excellency and her team provided valuable insight into Kuwait's fiscal reform agenda,' he said. 'We look forward to exploring ways to help articulate the Ministry's progress and vision to the international business community.'
The engagement forms part of OBG's research for The Report: Kuwait 2025, which will include in-depth analysis of Kuwait's economic trajectory, covering fiscal governance, debt management frameworks, financial sector innovation and public-private partnerships.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan Times
11 hours ago
- Jordan Times
ACI exports reach JD4.207b in first 7 months of 2025
AMMAN — Exports from the Amman Chamber of Industry (ACI) rose by 14.9 per cent during the first seven months of 2025, according to statistics data monitored on Wednesday. According to statistical data obtained by the Jordan News Agency, Petra, the chamber's exports, based on certificates of origin it issued, reached JD4.207 billion in the first seven months of 2025, compared with JD3.660 billion for the same period last year. Eight industrial sub-sectors recorded increases in their exports during the reporting period, ranging from 2.5 per cent for therapeutic and medical supplies to 78 per cent for construction industries. Exports from the wood and furniture sector declined by 8.2 per cent, while the packaging, paper, cardboard, and office supplies sector dropped by 7.6 per cent. Four countries—India, the US, Saudi Arabia, and Iraq—accounted for more than half of the ACI's exports in the first seven months of this year, with a combined total of JD2.421 billion. In terms of geographic distribution during the January–July period of 2025, Arab countries topped the list with JD2 billion in exports, followed by non-Arab Asian countries with JD935 million, and North American countries with JD723 million. Exports to EU countries totalled JD252 million, while exports to non-EU European countries stood at JD135 million. Exports to African nations reached JD87 million, South American countries JD37 million, and other destinations JD32 million.
Al Bawaba
19 hours ago
- Al Bawaba
Burgan Bank Launches 'Data Champion' Bootcamp in Partnership with CODED
As part of its ongoing investment in human capital and commitment to fostering a culture of continuous learning, Burgan Bank announced the launch of its latest Learning and Talent Development (LTD) endeavor: the Data Champion bootcamp. Developed in strategic partnership with CODED – the region's first dedicated coding academy – the program is the first of its kind in Kuwait, designed to build data fluency across the Bank and deepen its digital transformation efforts. This intensive, month-long internal bootcamp aims to upskill employees from across Burgan Bank's departments with\ essential data analytics capabilities, enabling them to extract insights, drive smarter decisions, and accelerate customer-centric innovation. 'In today's fast-moving digital banking landscape, digital transformation and data literacy is more than a competitive edge – it's a business imperative,' said Ms. Fatma Ahmad, Senior Manager – Learning and Development at Burgan Bank. 'A true transformation lies in embedding data thinking into every part of the Bank's operations. Through this program, we're empowering our Employees with the tools and mindset to harness data effectively – and ultimately deliver a smarter, more seamless banking experience.' For his part, Mr. Hashim Behbehani, Co-Founder and Chief Operations Officer of CODED, said: 'We are proud to host Burgan Bank's Data Champion Program, which marks a truly forward-thinking initiative from Burgan Bank that invests in the technical upskilling of its employees. This program was specifically designed around real banking scenarios. It is meant to be practical and intensive, to deliver direct impact not only on the performance of participants – but also the various Burgan Bank departments they serve.' He added: 'This collaboration reflects Burgan Bank's deep-rooted belief in the importance of investing in national talent, which echoes CODED's vision to place Kuwait on the global technology map. We are grateful Burgan Bank for their ongoing trust and look forward to seeing the tangible results of this program.' To ensure the organizational alignment on adopting a data-driven mindset, 12 employees representing different departments within the Bank – will be selected to attend the bootcamp. Throughout the program, participants will receive hands-on training in Power BI, Excel Dashboards, and Data Storytelling, in addition to modules on data management, data analytics, and data modeling, supported by real-world case studies tailored to banking scenarios. This initiative also aligns closely with Burgan Bank's sustainability strategy, particularly in the areas of human capital development, digital transformation, and national talent empowerment. By equipping employees with cutting-edge data skills and fostering a culture of innovation, the Bank reinforces its long-term commitment to responsible growth and inclusive progress. The program further supports Kuwait's Vision 2035 by nurturing local talent in partnership with a homegrown tech institution, CODED, while also enhancing employee engagement and organizational resilience hallmarks of Burgan's sustainable development vision. The bootcamp will culminate in a collaborative capstone project, where participants will demonstrate their ability to apply data concepts to real business challenges. Graduates will be formally recognized upon completing the requirements of 'Data Champions Bootcamp'. It serves to note that Burgan Bank, a certified Great Place to Work® with a mission of becoming an employer of choice on the national level, currently houses one of the most robust and comprehensive LTD programs within the sector, A dynamic program with an expansive vision, Burgan Bank's LTD strategy offers employees year-round opportunities for personal and professional growth.
Al Bawaba
20 hours ago
- Al Bawaba
Markaz records Total Revenue of KD 14.45 million for H1-2025
Kuwait Financial Centre 'Markaz' (KSE: Markaz, Reuters: Bloomberg: MARKAZ: KK) reported its financial results for H1-2025 with a Total Revenue of KD 14.45 million with an increase of 65%, as compared to KD 8.76 million in H1-2024. The net profit attributable to shareholders of Markaz was KD 6.41 million, compared to KD 1.79 million in the same period last year, and earnings per share was 13 Fils for H1-2025. Mr. Diraar Yusuf Alghanim, Markaz's Chairman, stated: 'Kuwait demonstrated robust performance during the second quarter of 2025, with non-oil GDP growth estimated at around 2.5%, supported by steady expansion in real estate, manufacturing, and hospitality, while inflation remained contained near 2.3% alongside a private sector PMI of 53.9 in the GCC, economic prospects were reinforced by ongoing diversification initiatives and rising credit activity in the UAE, which helped sustain regional growth. Regional oil revenues also benefited from periodic price increases amid geopolitical tensions, supporting fiscal balances. On the global front, the IMF revised growth expectations downward due to weaker demand and continued geopolitical friction, although oil market movements offered some support to regional fiscal positions. In recognition of its institutional strength and innovative investment capabilities during this period, Markaz was honoured with five prestigious awards from EMEA Finance, Euromoney, and MEED. We remain positive on the region's outlook, supported by improving financial conditions, ongoing structural reforms, and steady demand trends. Our priority continues to be the creation of long-term value for our stakeholders through disciplined execution, strategic growth, and prudent risk Ali H. Khalil, Markaz's CEO, stated: Markaz's Asset Management fees for H1-2025 were KD 3.94 million as compared to KD 3.46 million for the same period last year, reflecting an increase of 14%. Investment Banking and Advisory fees for H1-2025 were KD 0.52 million as compared to KD 0.63 million for H1-2024. This performance reflects the strength of our diversified portfolios and disciplined focus on consistent execution across business verticals. In asset management, our equity mutual funds continued to deliver stable returns amid heightened market volatility. MIDAF, Mumtaz, the Markaz Islamic Fund, and Forsa recorded returns of 8.65%, 10.45%, 18.05%, and 12.31% respectively, supported by prudent investment strategies and active portfolio management. Within investment banking, Markaz continues to reinforce its capital markets expertise and deepen long-term client relationships. The team maintains a robust transaction pipeline, with multiple active M&A mandates currently regional and international real estate investments have remained resilient, supported by stable occupancy levels, reliable rental income, and steady collection rates. During the year, Markaz exited industrial real estate projects exceeding USD 100 million in the US and Europe, highlighting its disciplined investment approach, partnerships, and leadership in global real estate and credit strategies. Markaz also released the first annual report for its Shariah-compliant Markaz Real Estate Fund (MREF), strengthening transparency and highlighting its market demographic dynamics, sustained infrastructure spending, and broader economic diversification across the GCC continue to create attractive opportunities. Markaz is focused on providing differentiated investment offerings and maintaining strategic agility to deliver long-term value for Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz, stated: 'Markaz continued to strengthen its wealth management services during the second quarter of 2025. Assets Under Management (AUM) reached approximately KD 1.56 billion as of 30 June 2025, reflecting an [increase] of 13.14% compared to KD 1.38 billion in Q2 2024. This growth is underpinned by our disciplined execution and client-focused strategy. In May 2025, Markaz successfully engaged professional and qualified investors through an exclusive private markets event with BlackRock, strengthening client access to global strategies and highlighting private credit as a strategic income-focused asset class. Expanding capabilities across private markets, alternative assets, and tailored advisory services remains central to addressing clients' evolving requirements. Enhanced digital initiatives continue to strengthen the client experience and drive greater efficiency. Supported by strong relationships with institutional and high net worth clients, and solutions aligned with market dynamics, Markaz is positioned to deliver consistent investment outcomes and uphold its leadership in wealth creation.
