AGP Executive Report
Last update: 11 hours agoKuwait Crime & Fraud: Kuwait authorities arrested an Egyptian expatriate in Al Farwaniya over alleged forgery of salary certificates and illegal facilitation of official transactions, after investigators tracked a social media offer and caught him red-handed. Investment Scams: Kuwait’s Criminal Investigation Department also arrested a Bedoun suspect and issued an arrest warrant for a Kuwaiti citizen accused of defrauding about 15 people of nearly KD 200,000 via a scheme promising 20% monthly returns, with payments later drying up. AI & Work: A Kuwait-based consultant said AI is more likely to reshape jobs than wipe out whole professions, warning firms that “adding AI” without redesigning processes can backfire. Charity Governance: The Social Affairs minister said Kuwait’s charitable work is a national legacy and backed a draft decree-law to strengthen regulation and oversight of charitable and cooperative sectors. Public Finance: Government approval of regulated borrowing from the Future Generations Fund drew expert support, with calls for restraint to avoid weakening the fund’s long-term solvency. Banking Moves: Burgan Bank launched a rights issue of up to KD 50m to strengthen capital and fund digital transformation; NBK rolled out Aura cards with Alshaya and highlighted its top ranking among Kuwaiti banks in The Banker’s Top Arab Banks 2026. Regional Energy Shock: Iran-US clashes intensified around the Strait of Hormuz, with Kuwait reporting Iranian missile/drone attacks and the US saying it destroyed three Iranian oil tankers—raising fresh shipping and oil-market concerns. Trade Links: KCCI pushed to deepen Kuwait-Lesotho trade and investment ties, including sector opportunities in mining, precious stones, and textiles.
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