Latest news with #sustainable economic growth
Al Bawaba
4 days ago
- Business
- Al Bawaba
Kuwait eyes deeper financial sector engagement to support Vision 2035
The role of Kuwait Finance House (KFH) in supporting sustainable economic growth, financial innovation and private sector development in line with Kuwait Vision 2035 was among the central topics of discussion during a recent strategic meeting between Khaled AlShamlan, Group Chief Executive Officer of KFH, and a senior delegation from Oxford Business Group (OBG), led by Andrew Jeffreys, the Group's Chief Executive Officer, and Cristina Mirica, Country Director for meeting provided an opportunity for both parties to exchange insights on Kuwait's evolving financial landscape, with a particular focus on supporting national development priorities through knowledge sharing, responsible financial practices and enhanced stakeholder also explored the possibility of future collaboration in areas such as thought leadership, joint events, and market intelligence. In addition, the parties highlighted the importance of ESG principles, digitalisation and strong corporate governance in shaping a resilient and inclusive financial AlShamlan shared his thoughts with OBG that the meeting was aligned with KFH's broader commitment to enabling economic progress in Kuwait and strengthening engagement with strategic knowledge partners.'KFH remains committed to advancing sustainable growth and aligning with national priorities under Vision 2035. Our discussion with Oxford Business Group reflects our interest in working with knowledge partners to support financial innovation, enhance market transparency and drive private sector development in Kuwait and beyond,' he Jeffreys, CEO of Oxford Business Group, said the meeting offered a valuable opportunity to exchange views on regional investment dynamics and future collaboration.'We are pleased to have had the opportunity to meet with Mr. AlShamlan and his team at a time when Kuwait's financial sector is undergoing rapid transformation. KFH's leadership in ethical banking and innovation aligns well with the themes we are exploring in our research. We look forward to deepening our engagement with key stakeholders in the sector,' he noted. The meeting forms part of OBG's ongoing research for The Report: Kuwait 2025, which will analyse key trends and investment opportunities across the country's economy and will be in both printed and digital formats. The publication will feature insights from leading public and private sector figures, alongside data and analysis covering financial services, energy, infrastructure, and other priority areas.
Arabian Business
10-07-2025
- Business
- Arabian Business
Dubai Free Zones Council announces new resolution allowing business expansion without legal entities
The Dubai Free Zones Council (DFZC), chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, held its 31 st meeting to discuss strategic initiatives aimed at supporting sustainable economic growth and enhancing the global competitiveness of Dubai's free zones. The Council underlined the importance of fostering a flexible and integrated legislative environment to support business operations and boost investor confidence, according to a statement by the Dubai Media Office. Enhancing Dubai's free zone competitiveness The meeting began with a review of the progress made in implementing the guidelines of the UAE National Anti-Money Laundering and Combatting Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC) across Dubai's free zones. Discussions focused on alignment with the National Risk Assessment (NRA) outcomes, data integrity, operational challenges, and overall compliance readiness. Council members also reviewed the requirements issued by the National Committee, including targeted practices and the roadmap for the 2025–2027 assessment cycles. A set of recommendations was presented to improve compliance efficiency and support the UAE's preparedness for upcoming evaluations. The meeting also focused on the implementation of Executive Council Resolution No. (11) of 2025, which regulates the operations of free zone entities in Dubai. The Resolution represents a milestone, allowing businesses to expand locally without the need to establish new legal entities. The Council reviewed the Resolution's implementation phases, dual licensing criteria, and integration with digital platforms—aligned with global competitiveness benchmarks and the Dubai Economic Agenda D33, which seeks to double the size of the emirate's economy over the next decade and position Dubai among the top three global cities. Discussions also covered efforts to streamline procedures and ensure a seamless experience in obtaining services and licences from local and federal entities, particularly for activities that require external approvals. The Council addressed challenges related to overlapping jurisdictions and procedural inconsistencies. Proposed solutions included full digital transformation, the adoption of unified standards, risk-based classification of activities, and the fast-tracking of strategic projects. The meeting also included updates on the development of special economic zones, a review of the Council's achievements, and a discussion of key strategic initiatives.
