KIA's investments are completely transparent to the State of Kuwait, which is responsible for protecting the interests of KIA's beneficiaries—the citizens of Kuwait. Kuwait's parliament, the National Assembly, is freely elected by all Kuwaiti citizens 21 or older, and elected representatives of the National Assembly are regularly informed, at least annually, of KlA's performance.
Transparency and Disclosure of Information:
Law No. 47 of 1982 regarding the establishment of the KIA has select clauses related to dissemination of information. Clause 5 requires the KIA to present a detailed report to the Council of Ministers on the Assets Under Management and Performance. Clause 8 prohibits the disclosure to the public of any information related to KIA's work. Clause 9 states the penalties for unauthorized disclosure of information to the public.
Ethical Guidelines and Code of Conduct:
During the April 2006 reorganization of KIA, the Consultants also established a Code of Conduct for each staff member at KIA. This is comprehensive manual that each staff member, especially in managerial positions, has to agree to in writing. The Code of Conduct is maintained under the supervision of the Director for Legal and Compliance (KIA's General Counsel).