The Central Bank of Kuwait (CBK) and the Kuwait Direct Investment Promotion Authority (KDIPA) announced in a press release the signing of a Memorandum of Understanding (MOU) on May 15, 2023, regarding the coordination mechanisms between both sides.
The MoU is an outcome of the cooperation and coordination framework between both sides to encourage direct investment in the State of Kuwait, develop and streamline the investment environment, eliminating barriers to investors, in addition to depicting all the technical and procedural aspects relating to the licensing of the investment entities, and their renewal, amendment, and cancellation, for the purpose of facilitating these procedures, and ensuring a timely and accurate delivery, as well as performing the mandated roles of both the Central Bank of Kuwait and the Kuwait Direct Investment Promotion Authority.
The MoU reiterates the resolve of the Central Bank of Kuwait and the Kuwait Direct Investment Promotion Authority to attain synergy and integration in performing work operations within the government apparatus, avoiding duplication of tasks or overlapping of duties and main responsibilities for both sides, to ensure performing the work optimally.
