Kuwait’s Finance Minister Manaf Al Hajeri has submitted his resignation from the government less than three months after his appointment.
Mr Al Hajeri, who did not attend the parliament’s ordinary session on Tuesday, is reported to have handed his resignation to Prime Minister Sheikh Ahmad Nawaf Al Sabah on Monday, local media reports said.
The Finance Minister is said to have disagreed with Mr Al Sabah over the recent transfer of the Kuwait Investment Authority to the Minister of Economic and Investment Affairs.
Mr Al Hajeri was first appointed to the portfolios of finance and economy ministries in April, but in a cabinet reshuffle in June following parliamentary elections, the economy and investment ministry was given to Saad Al Barrak, who is also the government’s Deputy Prime Minister and Minister of Oil.
Kuwait’s parliament met for its ordinary session on Tuesday to discuss issues such as the recent resignation of the country’s financial audit bureau, Faisal Al Shaya.
Parliament Speaker Ahmad Al Saadoun moved the discussion of Faisal Al Shaya’s resignation behind closed doors and asked all non-members of the assembly to leave the main hall before the closed debate began on Tuesday.
Shortly after their closed-door session, the Kuwaiti parliament voted to accept his resignation.
Mr Al Shaya submitted his resignation last week, saying he was forced to step down over political interference in the work of the bureau.
Kuwait’s state audit bureau manages and monitors public funds on behalf of the Kuwaiti government and the National Assembly.
Mr Al Shaya is reported to have resigned following several questions from members of parliament over his office’s integrity amid accusations of corruption.
In June, MP Hamad Al Mudlej threatened to initiate a bill that could have resulted in Mr Al Shaya’s dismissal over alleged violations.
Wonka
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Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
Company%20profile
%3Cp%3EName%3A%20Cashew%0D%3Cbr%3EStarted%3A%202020%0D%3Cbr%3EFounders%3A%20Ibtissam%20Ouassif%20and%20Ammar%20Afif%0D%3Cbr%3EBased%3A%20Dubai%2C%20UAE%0D%3Cbr%3EIndustry%3A%20FinTech%0D%3Cbr%3EFunding%20size%3A%20%2410m%0D%3Cbr%3EInvestors%3A%20Mashreq%2C%20others%0D%3C%2Fp%3E%0A
Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
