(MENAFN - Arab Times) The Cabinet, headed by His Highness the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah, held Wednesday an extraordinary meeting at Bayan Palace to discuss proposals for financing the foundation of a number of companies as part of the annual development plan.
The meeting started with a detailed explanation of the proposals from Deputy Prime Minister for Economic Affairs, Minister of State for Housing Affairs and State Minister for Development Affairs Sheikh Ahmad Fahad Al-Ahmad Al-Jaber Al-Sabah and Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdulaziz Al-Saud Al-Sabah.
The companies would be financed by the banking and financial sectors through the different financial tools, Minister of State for Cabinet Affairs Roudhan Al-Roudhan said. To help take a decisive action in this regard soon, the Cabinet issued a decree forming a special committee to define the most proper ways for financing those companies.
The committee, to be headed by the CBK, will include representatives from the Ministry of Finance, the General Authority for Investment, Ministry of Justice, Ministry of Commerce and Industry, office of the Deputy Premier Sheikh Ahmad Fahad Al-Ahmad and Fatwa and Legislation Department.
The committee would present to the Cabinet shortly a detailed report on the available and most suitable options, Al-Roudhan pointed out.