Kuwait News

MCI may give govt agencies power to access data

The Ministry of Commerce and Industry is currently exploring the possibility of granting government agencies the authority to regularly access data from the commercial registry of companies.

This anticipated move is part of a broader supervisory initiative led by the Ministry of Commerce to enhance the scope of its digital transactions, both with auditors and other relevant procedural and supervisory authorities, reports Al-Rai daily.

According to the sources, implementing this procedure is an effort by ministry officials to bridge the bureaucratic gap with other government agencies, often referred to as “the crisis of our book and your book.”

The aim is to streamline communication and reduce the time spent in reaching final statements between government entities. Enabling relevant authorities to directly inquire through the Commerce system is expected to expedite government workflows.

If the query power is activated in the commerce system, ministries and government agencies with legal ties to companies will gain direct access to the companies’ registry. They can view information typically requested through official correspondence without the need to notify the Ministry of Commerce.

Under this targeted procedure, government agencies will be granted the right to access regulatory data directly by providing a name and secret number to enter the system without seeking prior permission.

The most notable authorities related to the trade register of companies expected to obtain direct inquiry authority include the Ministries of Justice and Interior, the General Organization for Social Insurance, the Central Bank of Kuwait, the Financial Investigation Unit, and the Capital Markets Authority. However, the service will not include the right to print documents; it will only provide the right to view them for the relevant parties.

One of the benefits of this application is enhancing electronic communication between government agencies, facilitating inquiries about shared data, and contributing to the implementation of the e-government program. Additionally, it ensures that relevant government agencies promptly collect regulatory data from commerce about companies for supervisory decisions, audit procedures, or decision-making processes.

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