AGP Executive Report
Last update: an hour agoGCC Rail: Gulf transport ministers are expected to sign an agreement on November 8 to advance a 2,117-kilometre rail network linking Kuwait with the other five member states, supporting passenger travel and freight trade. Residency Rules: Kuwait has extended permits to 10 years for children of citizens and property owners, and 15 years for investors. Housing Finance: A new decree modernizes housing finance and loan-default procedures. Digital Payroll: Kuwait is rolling out wage monitoring for private-sector workers, with banks also ordered to review six months of transactions for suspicious salary activity. Sovereign Funds: Kuwait’s Investment Authority won a London case against its former chief’s claims; the Public Institution for Social Security also won a UK case to recover money stolen by a former director. Banking: Gulf Bank received Central Bank approval to proceed with its conversion to a fully Sharia-compliant bank. Regional Finance: China and Kuwait assured Pakistan of $4.3 billion in loan rollovers.
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