KUWAIT, May 25 (KUNA) -- Kuwaiti Minister of Finance and Minister of State for Economic Affairs Noora Al-Fassam issued on Sunday a decree authorizing the Kuwait Investment Authority (KIA) to carry out external loan operations and the Central Bank of Kuwait (CBK) to conduct domestic loan operations on behalf of the ministry.
The decree, published in the official gazette (Kuwait Alyoum), is based on the Amiri Decree-Law concerning financing, liquidity, public debt strategy, and the approved financing plan for the fiscal year 2025/2026.
The first article of the decree stipulates that the CBK is authorized, on behalf of the Ministry of Finance and in coordination with it, to conduct loan operations in Kuwaiti Dinar or major convertible foreign currencies within the country, in accordance with internationally recognized financial tools and practices.
The second article stipulates that the KIA is authorized, on behalf of the Ministry of Finance and in coordination with it, to conduct loan operations in major convertible foreign currencies from the global market, in accordance with internationally recognized financial tools and practices.
According to the third article, concerned officials shall implement this decision within their respective jurisdictions and submit periodic reports to the Minister of Finance regarding the actions taken within this decree. The decision takes effect from the date of issuance and will be published in the official gazette.
In March, an Amiri Decree-Law No. (60) of 2025 was issued on financing and liquidity, setting the limit for public debt at a maximum of KD 30 billion or its equivalent in major convertible foreign currencies.
The decree allows for the issuance of financial mechanisms with maturities of up to 50 years and will remain in effect from its date of enforcement, thereby establishing a long-term legal framework for regulating public debt. (end) ak.ht.bb