Regulatory Alerts2021-10-13
Rules and Regulations for the Experience Required for Financing Companies under Article 68 of Law No. 32 of 1968
The Central Bank of Kuwait establishes mandatory experience criteria for financing company board members, chief executive officers, and their deputies by requiring specific university degrees paired with five to ten years of relevant financial or banking experience. Candidates without the specified degrees may qualify through six to ten years of prior board membership, key executive roles, or licensed commercial activity. The regulations further standardize board delegation procedures and empower the Central Bank to evaluate professional capabilities and grant degree exemptions based on demonstrated efficiency.
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