Kuwait is removing the boards of major government entities including the markets regulator and tenders agency, in a widespread personnel shakeup to prepare for “a new era with new leaders,” Al Qabas newspaper reported.
(Bloomberg) —
Kuwait is removing the boards of major government entities including the markets regulator and tenders agency, in a widespread personnel shakeup to prepare for “a new era with new leaders,” Al Qabas newspaper reported.
Accusations and claims of corruption have for years created widespread discontent in Kuwait, with people calling for change across leadership and business, particularly in the last two years. The crown prince has already replaced key figures in government. While little is known about the replacements, many Kuwaitis are embracing any change as positive.
The cabinet issued directives to ministers asking for the current boards to be canceled as of Sunday, Al Qabas reported without saying where it got the information. Government officials contacted by Bloomberg couldn’t immediately be reached for comment.
It was unclear if the $700 billion wealth fund Kuwait Investment Authority, or the central bank, would be included in the revamp. The fund has faced turmoil over its London-based arm. The cabinet decision doesn’t apply to boards that were recently formed, and is therefore unlikely to include that of state oil group Kuwait Petroleum Corp.
Kuwait Ruler Dissolves Parliament, Calls Polls Amid Deadlock
The report said committees would evaluate the heads of the boards and other board members, and reappoint those worthy of positions. The decision could lead to mergers of some government agencies.
Kuwait has gone through major political upheaval in the past two years, even by the standards of a country known for deep domestic frictions and frequent elections. Its top leadership changed in 2020 after Emir Sheikh Nawaf Al-Ahmed Al-Sabah succeeded his half brother, who had managed the main levers of power for decades.
The new crown prince, Sheikh Mishaal Al-Ahmed Al-Sabah, announced the dissolution of parliament in June, in a statement on behalf of the emir, and called for fresh elections.
The emir blamed discord between lawmakers and the government for months of political turbulence that have paralyzed policymaking in the OPEC nation, and said the move was aimed at addressing the issue.
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