Kuwait Law On Borrowing Finances Being Discussed

Introduction

Kuwait is a nation that receives significant global attention for many reasons. It is highly wealthy, having among the largest oil reserves in the world. Similar to some of its neighbouring GCC and Middle Eastern countries, it has experienced substantial growth in just the last few decades. It is a modern marvel, and this has attracted many international businesses as well as expatriate workers, who make up around 70% of the total population.

While the nation's wealth and subsequent growth over the past decades began due to the vast oil reserves present, the country has attempted to diversify its economy to safeguard its future. It has achieved this to a degree and continues to aim for true diversity.

With this considered, it should not come as a surprise that from an economic perspective, the country has remained relatively stable through the years. The Kuwaiti Sovereign Fund is close to $600 billion. However, while there is this element of stability, the nation is still looking to ensure the legal systems and processes can sustain what has risen.

Potential New Law

The government is currently discussing a law...