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MoCI precondition licenses

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KUWAIT CITY, May 15: Ministry of Commerce and Industry has preconditioned the appointment of “liability officer“ in the renewal of licenses for some 15,875 companies annually, reports Al-Qabas daily quoting reliable sources.

The daily published decision of the Ministry of Commerce and Industry concerning the level of commitment of the insurances companies, and insurance mediators, institutions and companies that are into real-estate brokerage, in addition to real-estate offices that deal in jewelry, precious metals and money exchange to appoint a Kuwaiti supervisor before Jan 1, 2020 as a measure to eliminating money laundering.

The sources commended the role played by Minister of Commerce and Industry, the State Minister of Services Khalid Al-Rawdan in opening new opportunities for Kuwaiti youth in private sector.