Kuwait’s Emir Sheikh Sabah al-Ahmad al-Sabah issued Sunday evening a royal decree for a minor cabinet reshuffle.
Under the decree, a new finance minister was appointed, along with a new minister for electricity and water. It also stipulated dividing the ministry of oil and electricity to two separate portfolios.
Finance Minister Mariam Oqeil al-Oqeil in the government formed last December was appointed as minister of social affairs and the minister of state for economic affairs.
Barrak Ali has replaced her as finance minister, and Khalid Mohammad al-Fadhel has maintained his post as minister of oil, while Mohammad Hajji Busheheri was appointed as the new minister of electricity and water.
In other news, Kuwait has announced suspending the activity of three real estate companies and four money exchange companies.
It also requested the approval for suspending the activity of 18 companies, including six real estate, eight money exchange companies, and four jewelry companies, for violating the Anti-Money Laundering and Combating the Financing of Terrorism Law.
The country’s Ministry of Trade and Industry affirmed that its Anti-Money Laundering and Combating the Financing of Terrorism Department has issued 1,001 precautionary measures in 2019 on companies that violate provisions of the law.
In a statement on Sunday, the Ministry said these measures included sending written warnings to 200 real estate companies, 77 jewelry companies, 37 money exchange companies, and 13 insurance companies.
It also ordered 364 real estate companies, 139 jewelry companies, 17 money exchange companies, and 13 insurance companies to follow specific procedures to comply with the law.
