Finmin quits over KIA snub

By B Izzak

KUWAIT: Finance Minister Manaf Al-Hajeri has submitted his resignation to the prime minister, less than one month after forming the new Cabinet, it was announced on Tuesday. Hajeri, who also briefly served in the previous government as finance minister, is a veteran Kuwaiti investment and financial expert. He did not attend the National Assembly session on Tuesday. Local media reported that Hajeri, chairman of a local financial and investment think-tank, resigned in protest against taking Kuwait Investment Authority (KIA) away from him and giving it to the minister of oil, who is also minister of investments.

KIA, Kuwait’s sovereign wealth fund which manages more than $700 billion in assets, mostly in international markets, has always been under the finance ministry. But the government created the portfolio for investments and moved KIA under its umbrella. The Assembly on Tuesday also accepted the resignation of Audit Bureau chief Faisal Al-Shaya, Assembly Speaker Ahmad Al-Saadoun announced following a closed-door debate. He provided no further details. Shaya submitted his resignation to Saadoun last week, but warned in his resignation letter that political disputes will destroy the bureau, which monitors state finances and projects and reports to the National Assembly.

Under Kuwaiti law, the Assembly appoints the main officials of the Audit Bureau, which has powerful authorities, recommending to cancel projects and investigate financial scandals and irregularities. Some MPs have accused Shaya of hiding sensitive information from the Assembly related to a state enterprise purchasing an information security system from a company in the Zionist entity, with whom Kuwait has no relations and is considered an enemy state. Lawmakers also approved a motion asking the Assembly’s foreign relations committee to follow up measures and steps taken by the government towards safeguarding national sovereignty and natural resources in the Durra offshore gas field, which is disputed by neighboring Iran.

The approval came after some MPs criticized “weak” statements issued by government ministers after an Iranian official was quoted as saying the Islamic Republic was planning to develop the field unilaterally. Former oil minister MP Bader Al-Mulla said statements made by Oil Minister Saad Al-Barrak in an interview on a Saudi television channel were “inadequate and shaky and could affect Kuwait’s rights” in the field. He said the statements by the minister conceded possible Iranian rights in the field after the demarcation of maritime borders with Iran, adding that the foreign relations committee must examine the statements.

But Barrak insisted that his statements were “crystal clear” and they represent the policy and the viewpoint of the government. The minister told the Saudi station on Sunday that the field is the exclusive right of Saudi Arabia and Kuwait and Iran should first demarcate its maritime borders with Kuwait before making any claims. Kuwait has officially stated that the field, which contains some seven trillion cubic feet of natural gas, is owned entirely by Kuwait and is shared equally with Saudi Arabia based on an agreement signed more than two decades ago.

Foreign Minister Sheikh Salem Al-Abdullah Al-Sabah said Durra is fully owned by Saudi Arabia and Kuwait only, adding that Kuwait is continuing talks with Iran. Sheikh Salem stressed that the foreign ministry issued a “very clear” statement on the issue of the Durra field, referring to its affirmation of Kuwait’s clear position during its talks with Iranian Foreign Minister Hossein Amir-Abdollahian. He also said one of the government’s priorities is to end the issue of marine border demarcation with Iran and Iraq, noting that during the past few months, three rounds were held with the Iraqi side and one round with the Iranian side, and that the government is serious and proceeding with meetings with the two sides.

MP Hasan Jowhar asked about the role of Kuwaiti diplomacy in the issue, adding that it is not logical that for 20 years, the country’s maritime borders have not been demarcated. MP Adel Al-Damkhi said the Durra field is an important issue and Kuwait’s unity with Saudi Arabia over the issue is a safety valve against ambitions from other sides, in a reference to Iran. He said the government should complete the demarcation of all Kuwaiti borders so as “to stop ambitions against our energy resources”.

The Assembly also rejected a request by MP Marzouq Al-Ghanem to ask the sports and youth committee to investigate allegations of government interference in international sports elections. At the end of a debate on the burning of a copy of the Holy Quran, the Assembly issued recommendations calling on the foreign ministry to play its role to issue an international law barring acts of aggression against Islam and which allows suing perpetrators. The recommendations called on traders to stop selling commodities made in countries that allow abusing Islam.

The post Finmin quits over KIA snub appeared first on Kuwait Times.