Al-Saqer for Development trains 'Commerce' ministry staff on 'XBRL'
The Abdulaziz Hamad Al-Saqer Center for Development held a workshop to train Ministry of Commerce staff on the electronic XBRL system.
Translated by Alqyas from Al-Rai — Original source
In a joint effort between the Kuwait Chamber of Commerce and Industry (KCCI) and the Ministry of Commerce and Industry, the Abdulaziz Hamad Al-Saqer Center for Development and Training, the KCCI’s training arm, held a workshop on November 11, 2026, on the modern electronic XBRL system for uploading financial statements to the Ministry of Commerce’s website. The session aimed to train ministry staff on mastering the system’s operational mechanisms to ensure smooth implementation and rapid execution.
The Center clarified that, in line with the Chamber’s commitment to ensuring the seamless adoption of the new system within the ministry, a one-day workshop was organized. The session summarized how to operate the XBRL system and provided a comprehensive procedural and technical guide detailing the submission mechanism and system requirements as stipulated by the Ministry of Commerce and Industry.
The Ministry of Commerce, for its part, nominated specialized employees responsible for working with and monitoring the new system to attend the workshop, as part of its digital transformation plan and its commitment to enhancing the quality of financial disclosure, promoting transparency, and standardizing financial reporting criteria.
The XBRL system aims to standardize financial disclosure formats for all companies, improve the quality and accuracy of submitted financial data, facilitate oversight and financial analysis by relevant authorities, and align practices in Kuwait with international standards for electronic financial reporting.
Notably, the system’s voluntary implementation phase will take place in 2026, allowing companies and audit firms to submit financial statements and reports via the XBRL system. From January 1, 2027, the system will become mandatory, and no financial statements or reports submitted outside the system will be accepted after that date.
The Center indicated that it is conducting periodic and intensive workshops on the XBRL system in response to growing demand from the private sector. The Chamber is committed to supporting and offering these workshops on a weekly basis in the coming months until the end of 2026.
