Cancellation of 'Al-Harir' and 'Bubiyan' development projects and amendment of 'Companies' law

The Cabinet, in its meeting yesterday chaired by His Highness Sheikh Ahmad Abdullah Al-Salim Al-Sabah, Prime Minister, approved a draft decree abolishing Decree No. 240 of 2012 establishing the Silk City (Sabiyah) and Bubiyan Island Development Authority. The Cabinet also approved a draft law decree amending certain provisions of the Companies Law issued by Law No. 1 of 2016, aimed at facilitating company establishment and enhancing confidence in dealing with them, in line with the state’s direction toward a more flexible and transparent business environment.

The draft law decree exempted the requirement to notarize all legal procedures and transactions related to companies from their establishment and throughout their existence, as well as any amendments to their articles of association, and limited the requirement to written documentation and signatures by the partners or their representatives. It established that registration in the Commercial Register shall serve as notarization, thereby rendering the company contract and its amendments, as well as resolutions of the Extraordinary General Assembly, enforceable against third parties. It abolished the silent partnership (mudaraba) company, as it is not subject to registration or publication, and permitted professionals to establish a professional company consisting of a single individual. The draft law decree also included transitional provisions granting existing offices and companies a one-year period to regularize their status, while preserving the validity of contracts and companies established prior to its implementation.

The Cabinet also approved a draft law decree amending Article 3 of Law No. 5 of 1982 concerning the establishment of the Zakat House, which includes reconstituting its board of directors and reducing its membership from 12 to 7 members. The amendment aims to create a more flexible and effective board of directors for the Zakat House.

For further details: The meeting was held in the conference room of the administrative building at the Martyr’s Park (Phase III). The Prime Minister emphasized that Saudi security is an integral part of Kuwait’s and the Gulf Cooperation Council (GCC) countries’ security.

Cabinet: Amendments to the Companies Law and Zakat House Law, and abolition of the decree establishing the Silk City and Bubiyan Island Development Authority.

The Cabinet held its meeting yesterday in the conference hall at the administrative building of the Martyr’s Park (Phase III), presided over by His Highness Sheikh Ahmad Abdullah Al-Salim Al-Sabah, Prime Minister. Following the meeting, Deputy Prime Minister and Minister of State for Cabinet Affairs Shari’a Al-Muwasharji issued the following statement:

At the outset of its meeting, the Cabinet was briefed on the content of a letter addressed to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah from his brother, Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia. The letter included an invitation for His Highness the Amir to participate in the second summit between the Gulf Cooperation Council (GCC) and the European Union, scheduled to be held in Riyadh on Saturday, October 24, 2026.

On another note, the Cabinet commended the speech delivered by the representative of His Highness the Amir Sheikh Meshal Al-Ahmad, His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Sabah, before the 81st session of the United Nations General Assembly at the UN Headquarters in New York City last Thursday. In his address, His Highness the Crown Prince highlighted the aggression suffered by Kuwait, the GCC states, and the Hashemite Kingdom of Jordan since February last year, involving Iranian ballistic missiles, cruise missiles, and drones. This aggression occurred despite these nations not being parties to the ongoing conflict in the region, constituting a blatant violation of international law, international humanitarian law, and the UN Charter. These brazen attacks systematically and repeatedly targeted civilian objects and vital infrastructure, including Kuwait International Airport, power and water stations, and oil facilities, revealing an aggressive approach aimed at disrupting the foundations of life and vital infrastructure. These heinous attacks resulted in the martyrdom of several individuals and innocent civilians, caused numerous injuries, and inflicted severe material and economic damage.

His Highness expressed Kuwait’s deep appreciation for the fraternal and friendly countries that stood by Kuwait and showed solidarity with it, as well as for the countries that sponsored UN Security Council Resolution 2817 and other international resolutions issued by the Human Rights Council and the International Maritime Organization, which condemned the Iranian aggression as a threat to international peace and security, called for its cessation, and affirmed the natural right of states to self-defense under Article 51 of the UN Charter. He also emphasized the importance of guaranteeing freedom of navigation without any restrictions. His Highness reaffirmed that Kuwait’s message, which it has believed in and acted upon, and will continue to adhere to, is that just peace is the path to stability. He stressed that respecting state sovereignty, safeguarding the rights of peoples, and resorting to international law in resolving disputes are indispensable pillars for the security and stability of states. Kuwait will remain, as it has always been known, a voice of wisdom and moderation.

On another note, the Cabinet was briefed on the results of the participation of the representative of His Highness the Amir Sheikh Meshal Al-Ahmad, His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Sabah, in the joint meeting hosted by the President of the United States, Donald Trump, with the participation of leaders and heads of delegations from several Arab and Islamic countries attending the high-level week of the 81st UN General Assembly in New York City last Wednesday. During the meeting, rapid developments and serious new developments in the region were discussed and reviewed, particularly the heinous Iranian attacks on regional states, the safety and freedom of maritime navigation, and global energy supplies, as well as the situation in the Gaza Strip. The meeting also emphasized the importance of strategic partnership and close, continuous coordination with the United States to enhance regional and international security, support de-escalation efforts, and establish the foundations of comprehensive and just peace in the region.

On another note, the Cabinet was informed of His Highness the Amir Meshal Al-Ahmad’s patronage and the attendance of his representative, His Highness Sheikh Ahmad Abdullah Al-Salim Al-Sabah, Prime Minister, at the opening ceremony of Martyr’s Park Phase III, which includes the national celebratory artistic performance "The Wall." The event is scheduled for 8:00 PM today, Wednesday, at the Wall Theater in Martyr’s Park Phase III.

On another note, the Cabinet expressed its strong condemnation and rejection of the Houthi militia’s launch of ballistic missiles toward the cities of Taif and Yanbu in the Kingdom of Saudi Arabia last Thursday. It reaffirmed its firm rejection of the recurrence of these hostile and despicable attacks, which constitute a blatant violation of the Kingdom’s sovereignty and a flagrant breach of international law and international humanitarian law. The Cabinet reiterated Kuwait’s absolute solidarity with the Kingdom of Saudi Arabia, its standing by its side, and its support for all measures taken by the Kingdom to safeguard its sovereignty, security, and the protection of its citizens and residents. It stressed that the security of the Kingdom is an integral part of the security of Kuwait and the GCC states.

On another note, the Cabinet approved a draft decree abolishing Decree No. 240 of 2012 establishing the Al-Harir City (Sabiyah) and Bubiyan Island Development Authority, and submitted it to His Highness the Amir Sheikh Meshal Al-Ahmad.

The Cabinet also approved a draft law decree amending certain provisions of the Companies Law issued by Law No. 1 of 2016, aimed at facilitating the establishment of companies and enhancing confidence in dealing with them, in line with the state’s orientation toward a more flexible and transparent business environment. The draft law decree exempted the requirement for notarizing all legal procedures and transactions related to companies from their establishment and throughout their existence, as well as any amendments to their articles of association and statutes, limiting the requirement to writing and signing by the partners or their representatives. It established that registration in the Commercial Register serves as notarization, which renders the company contract, its amendments, and resolutions of its Extraordinary General Assembly enforceable against third parties. It abolished the "Mudaraba" company (silent partnership) as it is not subject to registration or publication. The draft law decree also allowed free professionals to establish a professional company consisting of a single person. It included transitional provisions granting existing offices and companies a one-year period to regularize their status, while preserving the validity of contracts and companies established prior to its implementation. The Cabinet submitted the draft law decree amending certain provisions of the Companies Law issued by Law No. 1 of 2016 to His Highness the Amir Sheikh Meshal Al-Ahmad.

Also, the Cabinet approved a draft law decree amending Article 3 of Law No. 5 of 1982 concerning the establishment of the Zakat House, including the reconstitution of its board of directors and reducing the number of its members from 12 to 7. The amendment aims to create a more flexible and effective board of directors for the Zakat House, chaired by the Minister of Awqaf and Islamic Affairs, with the following members: the Director General of the Zakat House as Deputy Chairman; the Undersecretary of the Ministry of Islamic Affairs; the Undersecretary of the Ministry of Social Affairs, Family, and Childhood; the Undersecretary of the Ministry of Finance; the Secretary General of the General Secretariat of Awqaf; and the Director General of the Public Authority for Affairs of the Royal Court. This draft law decree was submitted to His Highness the Amir Sheikh Meshal Al-Ahmad.

The Cabinet reviewed a number of agenda items, reports, and minutes of ministerial committees and approved them. It also decided to refer several items to the relevant ministerial committees for study and to submit appropriate recommendations to complete the procedures for their implementation.