MoF decree empowers KIA, CBK to secure state funding

KUWAIT CITY, March 15: The Minister of Finance, Dr. Yaqoub Al-Rifai, issued Ministerial Decision No. 9/2026 that authorizes the Kuwait Investment Authority and the Central Bank of Kuwait to conduct borrowing on behalf of the Ministry of Finance. Article 1 of the decision states that the Central Bank of Kuwait is authorized, on behalf of the Ministry of Finance, to coordinate and consult with the ministry to conduct borrowing operations in Kuwaiti dinars or major convertible foreign currencies within the State of Kuwait, in accordance with the established financial methods and instruments.

Article 2 stipulates that the Kuwait Investment Authority is authorized, on behalf of the Ministry of Finance, to coordinate and consult with the Ministry to conduct borrowing operations in major convertible foreign currencies from the global market, in accordance with established financial methods and instruments. Article 3 stipulates that officials, each within their respective jurisdiction, are responsible for implementing this decision and periodically reporting to the Minister of Finance on actions taken under its provisions. The decision is effective from the date of issuance and will be published in the official gazette.