GOVERNANCE & TRANSPARENCY
GOVERNANCE
KIA is an independent public authority managed by its Board of Directors. The Board has complete independence in its decision making process. KIA is governed by a set of robust structures, which are established by law, covering oversight, audit, risk management, and accountability. The KIA oversight include: Cabinet (Council of Ministers), National Assembly (Kuwait Parliament), Committees of the National Assembly, Board Audit Committee, External Auditors, State Audit Bureau, Internal Audit, Civil Service Commission, and the Ministry of Finance Controllers
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Board of Directors
EXECUTIVE OVERSIGHT
| Cabinet | National Assembly | Civil Service Commission | MOF Controllers |
AUDIT
| Board Audit Committee | External Auditors | State Audit Bureau | Internal Audit |
Risk Management
KIA’s performance and risk management systems are the responsibility of KIA’s Risk and Performance Unit, which reports directly to the Managing Director. The Risk and Performance Unit is responsible for conducting performance and risk analysis, identifying and communicating performance and risk issues to senior management, developing an understanding of performance and risk within KIA’s investment sectors, and investigating data irregularities. KIA’s performance and risk management systems are the subject of review by the two independent accounting firms that audit KIA.
TRANSPARENCY
KIA is an independent public authority managed by its Board of Directors. The Board has complete independence in its decision making process. KIA is governed by a set of robust structures, which are established by law, covering oversight, audit, risk management, and accountability. The KIA oversight include: Cabinet (Council of Ministers), National Assembly (Kuwait Parliament), Committees of the National Assembly, Board Audit Committee, External Auditors, State Audit Bureau, Internal Audit, Civil Service Commission, and the Ministry of Finance Controllers
Subsidiaries
| KUWAIT INVESTMENT OFFICE – LONDON, UNITED KINGDOM
By 1953, as petroleum became an increasingly important source of revenue for Kuwait, the Amir of the nation, the late Sheikh Abdullah Al-Salem Al-Sabah (1950-1965) realized that this resource could be used to promote the sustainable development and welfare of the Kuwaiti people.  |