Parliamentary Finance postpones the “cancellation of the insurance unit” until next week

Parliamentary Finance postpones the “cancellation of the insurance unit” until next week

The Financial and Economic Affairs Committee held its meeting today, to discuss the two proposals for two laws regarding amending the provisions of Law No. (32) of 1968 in the matter of currency, the Central Bank of Kuwait and the organization of the banking profession, and a proposal for a law regarding the insurance regulation unit.

After the meeting, Committee Chairman MP Ahmad Al-Hamad said that the first proposal regarding cash and the Central Bank of Kuwait was discussed, explaining that the amendment aims to add an item of prior control of the Audit Bureau on the Central Bank of Kuwait.


Al-Hamad clarified that there are two parliamentary proposals submitted in this regard, the first submitted by Representative Mubarak Al-Aro, and the second submitted by Representatives Dr. Abdul Aziz Al-Saqabi, Badr Al-Hamidi, Muhalhal Al-Mudhaf, Osama Al-Shaheen and Dr. Hamad Al-Matar.

Deputy Abdul Karim Al-Kandari

Al-Hamad stated that the committee decided to make some amendments to the law, and it will be voted on at the committee’s meeting next week.

Regarding the proposal for the Insurance Regulatory Unit, Al-Hamad said that the proposal for a law was discussed with the Insurance Regulatory Authority, and the committee decided to postpone its decision until next week for further study.


Al-Hamad indicated that the meeting was attended by the Governor of the Central Bank, representatives of the Audit Bureau and the head and deputy head of the Insurance Regulatory Unit.

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Source: Tellyupdates


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