KUWAIT, Nov 18 (KUNA) -- The act on regulation of the digital trade sector is compatible with Kuwait's keenness on upgrading its legislative system in a manner that keeps pace with global economic changes and boosts digital environment confidence, Minister of Commerce and Industry Khalifa Al-Ajial said on Tuesday.
Al-Ajail made the statement to KUNA following the Cabinet's approval of a bill regulating action in this sector, in a prelude to refer it to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.
The bill is a turning a cornerstone in developing digital economy infrastructure as it keeps balance between protecting consumer's rights and enabling merchant to practice his/her activities within clear and flexible rules, he noted.
The bill crates an inclusive legal framework to regulate e-sanction, adjust advertisements and digital promotional activities, as well as protect personal data and boost transparency and professional compliance in the digital market, he added. The minister pointed out the law regulates digital advertisements and influencer activities by requiring advertisements to be linked to the merchant's data, documenting and keeping cooperation contracts for no less than five years.
It also ensures that payments are made through official payment methods in accordance with Central Bank instructions, in a way that promotes discipline and transparency in promotional content.
He affirmed that the new legislation supports the state's policy toward strengthening Kuwait's position in the global digital economy, enhancing its competitiveness, and creating a more advanced and transparent digital business environment. Al-Ajail stressed that the ministry, in coordination with the relevant authorities, will work on implementing this law and ensuring organized transition for the digital market. (end) aam.hm