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Wednesday , November 25 2020

Nine MPs demand suspension of subscription for KSE, N. Al-Zour

KUWAIT CITY, Oct 26: After the issuance of a fatwa by Ministry of Awqaf and Islamic Affairs to ban subscriptions for Kuwait Stock Exchange and North Al-Zour owned by the state, nine MPs demanded suspension of the subscription, reports Aljarida daily.

These MPs are Abdullah Al- Kandari, Abdullah Fahad, Thamer Al-Suwait, Nayef Al-Midras, Osama Al-Shaheen, Mohammad Al-Mutair, Mohammad Hayef, Khalid Al-Otaibi and Dr Khalid Al-Damkhi. They issued a statement in which they explained that the public subscriptions of the Public Authority for Partnership Projects is considered as violation of the Constitution of Kuwait, because such subscriptions do not abide by the Islamic Sharia.

The subscriptions violate the principle of equal opportunities among citizens. They highlighted Article 2 of the Constitution which states that Islam is the religion of the state, and Islamic Sharia is the main source of legislation.

They also highlighted Article 8 of the Constitution which states that the state preserves the pillars of the society and guarantees security and equal opportunities for the citizens.

The MPs stressed that the government particularly Ministry of Finance is responsible for this issue, indicating that some citizens will not be able to participate in the subscription due to religious reasons and this violates the principle of equal opportunities. They asked for suspension of the subscription until relevant procedures are taken to guarantee equal opportunities for all citizens.

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