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Kuwait picks acting finance minister

Kuwait, May 28, 2012

Kuwait has appointed Nayef Al-Hajraf as the country's acting finance minister, state news agency Kuna said on Monday, after his predecessor Mustapha Al-Shamali quit amid allegations of financial irregularities in his departments.   

Political upheaval has become common in the major oil producer and Opec member in recent years, holding up decisions on large investment projects and putting off foreign investors, analysts and bankers say. 

Shamali denied all allegations of mismanagement on his watch but stepped down last Thursday after opposition lawmakers accused him in parliament of failing to deal with alleged irregularities in his departments.

Hajraf, who is higher education minister, replaces Shamali on an interim basis, Kuna reported, citing the outcome of a government cabinet meeting.

A more permanent replacement is expected to be announced in the coming weeks, according to Kuwaiti media. - Reuters




Tags: Opec | Kuwait | Finance Minister |

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