Trade Min. orders overseas property sale panel

KUWAIT, May 24 (KUNA) -- Minister of Trade and Industry Yousef Al-Ali has issued a ministerial decree authorizing a new committee regulating the sale of properties at real estate exhibitions outside Kuwait.
The committee will look into procedures pertinent to the sale of foreign properties at real estate exhibitions, a control mechanism, necessary documents and sale regulations, the Ministry of Trade and Industry said in a press release on Tuesday.
It also considers legal problems triggered off by the sale of foreign properties and ways of tackling them in light of the Kuwaiti law, and follow up imbalance in the existing system, it added.
It is also up to the committee to use the help of experts in order to do its jobs properly and effectively, but they should be denied the right of vote, it noted. (end) skm.tb.mt