KUWAIT: Acting Director General of the Public Institution for Social Security (PIFSS) Khaled Al-Mudhaf affirmed on Tuesday that Gulf institutions are exerting distinguished efforts to benefit from global experiences and enhance their performance and investment systems. He stressed that these efforts aim to strike a prudent balance between calculated risk and necessary conservatism to maximize returns and secure the long-term sustainability of funds.
Al-Mudhaf made the remarks on behalf of Minister of Electricity, Water and Renewable Energy, Minister of Finance, and Acting Minister of State for Economic Affairs and Investment Dr Sabeeh Al-Mukhaizeem during the opening of the 24th meeting of heads of civil retirement and social insurance agencies in the Gulf Cooperation Council (GCC) countries, held in Kuwait. He said the meeting reflects a joint strategic commitment to achieving the leaders’ vision, which prioritizes the welfare and security of Gulf citizens.
He emphasized that extending insurance coverage requires continuous review and innovation to enhance flexibility and efficiency, adding that such meetings provide an opportunity to unify proactive efforts and ensure systems remain modern, adaptive, and capable of meeting emerging challenges. Al-Mudhaf expressed hope that the gathering would mark the beginning of practical and well-considered steps aligned with the directives of the wise leadership, wishing all participants success and progress for the benefit of the region’s peoples.
Khaled Al-Mudhaf
Khaled Al-Sunaidi
For his part, Assistant Secretary-General for Economic and Development Affairs at the GCC General Secretariat Khaled Al-Sunaidi said the meeting embodies pride in the significant transformation witnessed by GCC countries in the social protection sector — whether through updated legislation, digital transformation, or improved service delivery for subscribers and retirees.
Al-Sunaidi noted that the GCC countries are experiencing a growing awareness of the importance of harmonizing social and economic objectives, achieving a balance between adequacy and financial sustainability, protecting the rights of both current and future generations, and reinforcing the concept of Gulf citizenship and equal opportunities among GCC nationals. He reiterated the GCC’s commitment to advancing institutional integration and cooperation in this vital field in line with the region’s aspirations for a prosperous and sustainable future.
During the ceremony, a number of distinguished figures in the field of social insurance were honored, including Aref Al-Khayat, Abdullah Al-Hamar, and Istiqlal Al-Abduljalil from Kuwait; Jabr Al-Jabr and Jamal Al-Ajaji from Saudi Arabia; Khalifa Al-Khulaifi from Qatar; Riyadh Al-Muhaimid and Dr Zakaria Al-Abbasi from Bahrain; Hamda Al-Shamsi and Shabib Al-Darmaki from Oman; and Ahmed Al-Hammadi and Mohammed Al-Hammadi from the United Arab Emirates. — KUNA
