Kuwait introduces Qayd for digital XBRL filings
Kuwait’s Cabinet has reviewed “Qayd”, a new national system for electronic financial reporting, presented by the Minister of Commerce and Industry, Khalifa Al-Ajeel.
Qayd will allow companies to submit financial statements digitally using the XBRL standard. Use is currently optional, with mandatory adoption expected from January 2027, starting with private companies, single-person companies, simple partnerships and joint-stock companies.
The implementation fits Kuwait’s wider drive to digitise public services, highlighted in the same Cabinet discussions through strong take-up of the Sahel government services app. It also builds on earlier XBRL progress in Kuwait’s capital markets via the Capital Markets Authority’s Ifsah 2 system.
We’re pleased to see progress in this area – structured, tagged filings make it easier to validate data, compare results across companies, and reuse information for analysis and supervision.
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