Category: News

Late last week the Capital Markets Authority (CMA) issued a circular banning crypto payments, investment and mining.

Kuwait is currently one of the cheapest countries in the world to mine bitcoin. It is estimated that last year the cost of mining in Kuwait was just $1,400 per BTC when bitcoin was worth more than $40,000 at the time. But, the high power consumption of mining doesn’t seem to be the reason for the ban. According to an article on Yahoo Finance, the reason behind the ban is money laundering. Countries are required to put up guardrails to prevent money laundering but I guess it’s easier to just ban it completely.

What does this mean if you already own cryptocurrency? My best guess is that it would make transferring large sums of money from abroad into your account in Kuwait more difficult. If you transfer large amounts of money you need to explain where it’s coming from and I don’t think you can tell the banks anymore that they’re from your crypto investments. Maybe a banker can clear this up for us.

Update: according to a reader the circular doesn’t apply to individuals.

Spider-Man: Across the Spider-Verse was meant to be released in the region on June 22, but last week it got banned in Kuwait and across the region. The reason behind the ban is due to the presence of transgender symbolism in the film, a “Protect Trans Kids” poster which appeared briefly during one scene (pictured below).

Whats interesting is that we’ve recently started seeing more movie bans and less censorship and that is supposedly due to the studios no longer allowing cinemas to edit their films. Disney and Sony have both recently not allowed Asian countries to edit out LGBT content so the only option cinemas have is to ban the films outright. It’s interesting because they previously would allow cinemas to edit out nudity or kisses, so it’s odd that they aren’t allowing LGBT content to be cut.

This is really good news for anyone looking to open a business in Kuwait or currently pays rent on an office that they never use. Yesterday the Ministry of Commerce and Industry announced that it is no longer required for businesses to have an office if they don’t have employees.

Previously if you wanted to get a business license you had to have an office even if you didn’t need one. So what people would do is rent out cheap 250-300KD offices in basements of dodgy complexes in Hawalli and other cheap neighborhoods which they would never use or even visit. People had to pay thousands on rent just so they could have a business license. With the new rule, the home address can be used to obtain a license.

This is going to help out a lot of people and encourage a lot of new businesses to open in Kuwait.

Over the weekend Forbes Middle East revealed their annual list of 100 Middle East’s Most Powerful Businesswomen and 8 from Kuwait made it this year. The U.A.E. and Egypt scored the most entries at 15 and 12, followed by 11 from Saudi Arabia and then Kuwait.

Check out Kuwait’s top 8 below:

A Space X rocket, carrying the first Kuwaiti Satellite (Kuwait Sat-1) will launch into space from Florida later today.

The satellite is a CubeSat which is a class of research spacecraft called nanosatellites. CubeSats are generic, modular satellites that come in different sizes and can be customized with various payloads. Kuwait’s satellite will have a camera payload which was put together by students at Kuwait University and will be operated by them after disengaging from the rocket.

With this satellite, Kuwait will be able to take its own photos of its own country from space which could then be used for many purposes ranging from environmental studies to mapping cities.

If you’re interested in watching the launch, 360 Mall will be broadcasting it live on their Oval Screen in the Main Atrium at 5:45 PM. For more information check @kw.university and @kfasinfo

According to the Ministry of Communications, starting February 2023, regular mail that arrives to Kuwait will be delivered straight to your home for a small fee. This means you no longer have to figure out which post office your package arrived at and then go through the hassle of picking it up yourself.

The package tracking system is also being revamped and improved since the current one is fairly basic and not that informative.

This is really good news because if the post office starts delivering mail straight to me I might just start shipping more stuff to them instead of using more expensive couriers like Shop&Ship and MyUS.

Kuwait is in the news again and this time censoring the film Black Panther: Wakanda Forever. There were three scenes cut, the first is a 10-second LGBTQ scene where one of the female characters kisses another female character on the forehead. Another scene cut out is of a woman giving birth and the final scene removed involved the line “A god to his people.”

Only one minute in the 2 hour and 41-minute film was taken out which isn’t too bad, but the odd thing is, Kuwait is the only country in the region that doesn’t have these scenes. Saudi Arabia, United Arab Emirates, Oman, Bahrain and Qatar all are showing the unedited version of the movie. How bizarre. Source

Local banks have started testing Apple Pay after the Ministry of Finance dropped the idea of trying to levy a tax on Apple. Apple Pay allows you to pay by tapping your phone or watch to a payment terminal without needing to have your physical card on you. Apple Pay already works on our existing Knet machines but until now it hasn’t been possible to add your Kuwaiti debit or credit card to your phone.

All local banks are expected to launch Apple Pay at the same time, so no matter what bank you use, you’ll have Apple Pay.

I’m curious to see if adding a local Kuwaiti card to my US Apple account will cause some sort of conflict. I don’t think it will. Do you have a non-US card connected to your US Apple account? Does it change anything?

The other day I posted about a new rule regarding delivery companies that went into effect yesterday. The new rules had to do mostly with delivery companies like Talabat, Carriage, and Deliveroo not being allowed to use third-party drivers amongst other things. I posted how this was going to cause a major disruption in the food delivery service and yesterday, it did.

When the new rule was announced, companies were given less than a month’s notice which meant they didn’t have enough time to implement all the new rules. Thankfully the Ministry of Interior just announced that they will be putting a hold on the new rules, and instead implement them starting January 1st, 2023.

So food deliveries should go back to normal today.

According to Kuwait Times, Kuwait is currently in advanced negotiations to host the Winter Wonderland this winter season. One of the proposed locationswould be the Shaab Park spot and the event would be run by the same company that managed Winter Wonderland in Riyadh.

With the current lack of entertainment parks in Kuwait, this would definitely be a huge hit so hopefully it does work out cuz we desperately need it. Also, it would be cool to have it open up down the street from me.

Last week I posted about Khazal Palace possibly losing its heritage site status due to major alternations in the restoration, but on the other hand, there is good news for Naif Palace in Kuwait City. Last week it was designated an Islamic Heritage Site by the Islamic World Educational, Scientific and Cultural Organization (ICESCO).

Naif Palace, which covers an area of 28,802 square meters, was built in 1919, during the reign of Emir Sheikh Salem Al-Mubarak Al-Sabah. It has 219 rooms and also houses a mosque, a garrison dormitory, and an ammunition depot.

For more on this, here is the link to the original news story.

On a side note, does anyone know if the palace is open to visitors on regular days? I know they open it during Ramadan for the canon firing but what about the rest of the year?

The Ministry of Commerce has shared some more bad rainbows you need to look out for. I honestly have no idea what the three bottom ones are for, but I’ll make sure to report them if I see any.

Yesterday the Ministry of Commerce issued guidelines to differentiate between a regular rainbow and LGBTQ+ flags with the hashtag ‘participate in censorship.’ At first, I was like is this the most pressing issue they have right now? But then a friend pointed out they might have done this because people were probably flooding them with complaints about LGBTQ+ flags being sold in Kuwait when in reality, they’re just products with regular rainbows.

How to Tell a Good Rainbow from a Bad Rainbow:
🌈 = Rainbow and has 7 colors = Good Rainbow
🏳️‍🌈 = LGBTQ+ flag and has 6 colors = Bad Rainbow

The Palace of Justice building was designed in the late 70s by the Scottish architect Sir Basil Spence, the same architect behind the Coventry Cathedral. The building was scheduled to be demolished once the new building under construction next door was completed but thankfully that isn’t happening anymore. The National Council for Culture, Arts and Letters has added the Palace of Justice on the list of modern heritage sites (source) which means it should no longer be demolished.

Happy for the Palace of Justice, but sucks that places like the Ice Skating Rink didn’t get added to the list.

The court has dismissed the lawsuit filed by a Kuwaiti lawyer against the MOC demanding the blocking of Netflix due to the Arabic movie Perfect Strangers. Phew… Source