The Central Bank of Kuwait stressed upon the providers of payment services, cash, and electronic payment system operations; to take the necessary measures to achieve the “Kuwaitization” rate in their companies.
Basel Al-Haroun, Governor of the Central Bank of Kuwait, issued a circular to all providers of electronic payment services, electronic cash, and electronic payment system operation services, in which he stressed the need to undertake necessary measures in achieving the required national labor rate, which is in accordance with Cabinet Resolution No. 1868 of 2018.
This is regarding determining the percentage of national labor in non-governmental entities, according to the main professions in the economic activity.
The Cabinet Resolution No. 1868 of 2018 stipulates that “non-governmental entities shall adhere to the percentages of national labor specified in the table according to their economic activity, taking into account paying the prescribed fees, if the entity exceeds the maximum number of expatriate workers exempt from fees.”
Whereas, non-governmental entities that do not adhere to these percentages, shall be subject to an additional annual fee of KWD 300 for each work permit or work permit granted to each non-Kuwaiti worker requested by the non-governmental entity in excess of the percentage.
Nonetheless, The Central Bank is interested in developing job opportunities in the sectors subject to its supervision for national competencies and working to increase their presence at all job levels, and follows up on the matter diligently through its circulars, instructions and meetings held in this regard.
Further to this, Al-Haroun also indicated in his circular that the matter comes within the framework of the regulatory and supervisory role of the Central Bank, on the banking and financial sector in accordance with the provisions of Law No. 32 of 1968 regarding currency, the Central Bank of Kuwait and the organization of the banking profession and the laws amending it, and in light of the bank’s follow-up of the national employment rates for the subject entities.
The Governor, requested those addressed by his circular to provide the Central Bank with a statement on the development of the national employment rate determined according to the main profession and economic activity in each company, on a “semi-annual” basis as at the end of June and the end of December of each year, provided that it includes data on workers according to their numbers, nationalities and job levels they occupy.
The Central Bank previously stressed, within the framework of its directives to develop job opportunities in the banking sector for citizens, the importance of qualifying national cadres and giving them priority when filling leadership, technical and administrative positions alike.
This will be done by taking the necessary measures to train and qualify national materials and raise their percentage in executive positions.
Moreover, Al-Haroun specified in his circular a model for disclosing the percentage of “Kuwaitization” through a statement specific to Kuwaiti workers at the senior, middle and lower levels and their total numbers, another statement for non-Kuwaiti workers, and a third statement that combines Kuwaitis and non-Kuwaitis.
Summarizing further, The Governor stressed the need for the data to include all workers except for a segment of users represented by drivers, messengers and janitors, provided that this data is submitted within a deadline of 10 working days from the end of the period for which it was prepared.
