‘Commerce’ moves to reorganizes advertising market on social media

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No ‘celebrities’ to promote goods

KUWAIT CITY, May 22: The Ministry of Commerce and Industry has begun a move to reorganize the advertising market on the “social media” to promote some goods, but this time directly from advertisers and not through what it called ‘celebrities’ which the ministry has so far refused to grant a license to, reports Al-Rai daily. The daily said the ministry in cooperation with the Kuwait Municipality and the media and other parties plans to set up controls that regulate companies and commercial license holders in general, advertising promotion of their goods through ‘celebrities’ indicating that these controls will ensure celebrities can be paid through regular processes that pass through the banking system, such as checks approved by banks or e-transfers of known origin, and then confirmation of the safety of these funds on the one hand of whoever paid it and who received it.

The sources pointed out that these controls will also regulate the accounting method for the owners of commercial licenses to pay celebrities the cost of their advertisements, as it is expected that the advertising revenues that the celebrities will receive will be recorded in the budgets of companies and commercial license holders. Therefore, audited financial data can be referred to in the event that a “celebrity” is encountered in the future. Charges related to a suspicion of money laundering, as the investigation authorities can verify the safety and accuracy of the advertising fl ows in particular that are announced and compare them to the size of the funds subject of the accusation.

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