Council of Ministers gives nod for establishment of independent body

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New body will be directly under the supervision of MoCI

KUWAIT CITY, Dec 27: Ministry of Commerce and Industry said the Council of Ministers has finally approved the establishment of an independent body for the insurance sector, which will supervise the insurance of companies, its establishment and control procedures, reports Al- Seyassah daily quoting sources.

The sources said that the previous approach, which was agreed during the meeting of the Minister of Commerce and Industry Khalid Al-Roudhan last month, with the Insurance Union, the Financial Affairs Committee of the National Assembly and the Chamber of Commerce, to subordinate the sector to the Capital Markets Authority instead of establishing an independent body has been done away with.

The sources pointed out that Kuwait Chamber of Commerce and Industry had a different opinion on what was said during the meeting to establish an independent body for the insurance sector based on regulating and monitoring the market, pointing out that the Chamber and the Kuwaiti Insurance Federation had requested from the Council of Ministers the need to establish a new body.

The sources pointed out that the new body will be directly under the supervision of the Minister of Commerce and Industry, and that the expected completion of its work will begin in the second half of 2019. Directorate General of Public Hygiene and Road Occupancy at the Capital Kuwait Municipality launched an inspection campaign in Salhiya area during which inspectors issued 180 violations and arrested 15 hawkers.

Head of Department Mishal Al-Azmi stated the sector has a plan to limit harmful activities and negative phenomenon by launching campaigns to enforce public cleanliness in Mubarakiya and Salmiya markets in accordance with Law No.9/87 through which individuals caught littering public places attract maximum fine of KD 200.

The violations cover indiscriminate disposal of tissues and cigarette butts. He added Qibla and Souk Cleanliness Center in a recent campaign at Salhiya area and capital beaches to arrest violators and take legal action against them. He urged visitors to the beaches to maintain cleanliness and desist from discarding waste indiscriminately.

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