BARC of London invests in ME, Kuwait
KUWAIT CITY, December 19: Kuwait climbed 4 ranks in the Human Freedom Index for the year 2021 published by the Canadian Institute “Fraser” and the American Institute “Cato”, and ranked 121 in the world, while it came fourth in the Arab world and first in the Gulf in the same index, while it ranked 98th in the world for economic freedom, Al-Rai daily reports. The index methodology is based on the ranking of 165 countries on the basis of 3 main indicators: personal, civil and economic freedom. This seventh annual indicator uses 82 sub-indicators to measure personal and economic freedom in the following areas: rule of law, safety and security, movement, religious belief, trade unions, assembly and civil society, expression and information, relationships, size of government , legal system and property rights, money and international trade. In the Index of Individual Freedom, Kuwait ranked 120th in the world, and in the Gulf, Bahrain came first in the Index of Economic Freedom, followed by the United Arab Emirates second, then Qatar third, l Saudi Arabia fourth, Kuwait fifth and finally Oman.
Among Arab countries for the overall freedom index, Jordan came in first, Lebanon second, Tunisia third, Kuwait fourth and Qatar fifth. Overall, Switzerland came out on top, followed by New Zealand, then Denmark, then Estonia, followed by Ireland, then Finland, then Canada, then Australia, then Sweden and Luxembourg. Meanwhile, the ‘My London’ website revealed that the Bromley Administrative Region Council (BARC) in London had invested huge financial reserves in major international banks, including banks in the Middle East, particularly Kuwait. and Qatar, which drew criticism from the British opposition. Labor Party, reports the daily Al-Rai. According to the website, the board has invested £60m in Middle Eastern banks and in its reviews Labor critics have spoken of the need to spend more of that money in the Bromley administrative area. .
Labor leader Angela Wilkins blamed City Council members, the majority of whom are Tories, for the misuse of her surplus funds, noting council investments have reached the equivalent of £3,000 per family in the city , while residents could not obtain adequate services. The website quoted the labor official as saying the council lends millions of pounds to other councils around the country, while investing just £2.6 million in his city. The official added that the council had correctly identified its priorities and that it was time to put the townspeople first. However, the conservative board member takes a different view and said he was very proud of the board’s record of managing its investments and had been recognized for its outstanding performance in managing investments and contributing easing the burden on city taxpayers.