New rules for agency and company grants
The article reviews the Kuwaiti government's regulations for accepting contributions, grants, and donations from both individuals and local and foreign companies. The proposed amendments include granting the Council of Ministers the final authority to approve contributions, while allowing the responsible minister to accept in-kind contributions valued at less than 5,000 dinars without the need for Council approval. The amendments also expand the scope of contributions to include grants and sponsorships, with precise regulations for recording contributions, methods for calculating their value, and mechanisms for disbursing and utilizing them in accordance with their designated purpose, while ensuring that benefiting entities are not burdened with future financial or operational obligations. Strict controls will be established to ensure transparency and oversight of the bank accounts linked to these contributions, along with arrangements to permit modifications to the purposes of contributions upon approval by the relevant authorities. The aim of these amendments is to enhance transparency and governance in managing contributions allocated for government projects and services.
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