Kuwait eyes program to hone bank workers leadership skills

This news has been read 8031 times!

‘Tax imposition via Assembly only’

KUWAIT CITY, Dec 22, (KUNA): Kuwait’s Institute of Banking Studies (IBS) said on Saturday it is putting together a program next month aiming to refine leadership skills in banks and other financial institutions in the region.

The program, a joint endeavor with Harvard Business School, will be held this year on Jan 26-31, the chairman of the government body Dr Mohammad Al-Hashel said in a statement.

Leadership strategies in the financial services industry will form the crux of this year’s edition, Al-Hashel, who also serves as Governor of the Central Bank of Kuwait (CBK), added. He hailed the success of the program over the past decade, which is held each year in a Gulf Cooperation Council (GCC) member state on a rotating basis, saying it has proven beneficial to financial institutions from across the region.

Al-Hashel went on to say that the course meets Harvard Business School’s lofty standards, based on extensive scientific studies over existential conditions in the global banking sector.

Skills
He underlined such “significant initiatives” offer the opportunity for knowledge sharing and the chance to build crucial skills. Meanwhile, the speakers at the seminar on ‘Value Added Tax between Reality and Practice’ held by the Kuwait Institute for Judicial and Legal Studies yesterday said the determination of any taxes can only be through the National Assembly, and must be studied thoroughly to achieve justice, reports Al-Qabas daily.

The speakers described the tax as unfair and will bring in the economic recession, pointing out the need to take into account consumer segments in any laws or actions taken by the concerned parties.

The head of the Public Law Department at the Faculty of Law at Kuwait University, Ibrahim Al-Hamoud, said VAT is undemocratic and not based on the capacity of the real consumer. He pointed out it is impossible to convert the tax linkage (tax value imposed) to the upward system, but it remains relative to apply the same amount of linkage to all, which means that they do not take into account the condition of the financier, whether rich or poor, because of the link to consumption.

The determination of taxes, he said, can only be through the National Assembly, in accordance with the Constitution, which stipulates that its establishment and amendment are only by law, not to mention the existence of another option, as happened in Egypt that authorized the House of Representatives president to issue by decree.

This news has been read 8031 times!