UN expert hails Kuwait’s leadership in financial reform and human rights commitment

• Kuwait’s innovative mechanisms and institutional frameworks support the development of public finance, including the Capital Markets Authority, the Sovereign Wealth Fund.
• Kuwait plays vital role in shaping the Islamic financial standards through the Accounting and Auditing Organization for Islamic Financial Institutions.

The UN Independent Expert on External Debt and Human Rights, Atia Waris, commended Kuwait’s leadership in developing its financial system and maintaining a comprehensive social assistance framework independent of taxation, describing the country as “at the forefront of nations advancing financial reform while upholding human rights principles.”

Speaking at a press conference at the United Nations headquarters in Kuwait on Wednesday, Waris highlighted Kuwait’s early commitment to universal human rights since its independence, noting that the establishment of the Kuwait Fund for Arab Economic Development in 1961—the world’s oldest development fund—reflected an exceptional dedication to international cooperation and assistance as a state obligation, reports Al-Rai daily.

Waris lauded Kuwait’s innovative mechanisms and institutional frameworks that support the development of public finance, including the Capital Markets Authority, the Sovereign Wealth Fund, and Kuwait’s role in shaping Islamic financial standards through the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). These efforts, she said, demonstrate Kuwait’s ability to rapidly align with global regulatory standards.

She also praised Kuwait’s national development plan for aligning with the UN 2030 Agenda, citing initiatives to diversify the economy, strengthen non-oil sectors, and enhance citizens’ living standards while preserving Kuwaiti cultural identity.

Waris further applauded Kuwait’s application of human rights principles within its financial governance, emphasizing values such as accountability, transparency, efficiency, fairness, and justice. She noted the Zakat House’s pivotal role in linking spiritual values with institutional mechanisms to combat poverty, bolster social solidarity, and contribute to international human rights goals.

The UN expert encouraged Kuwaiti authorities to continue strengthening financial transparency and anti-money laundering frameworks, as well as to enhance cross-border cooperation in addressing illicit financial flows.

Waris will present her full report on Kuwait’s progress to the UN Human Rights Council at its 61st session in March 2026.

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