‘Commerce’ sets out to reorganize the social media advertising market – ARAB TIMES

No “ celebrities ” to promote products

KUWAIT, May 22: The Ministry of Trade and Industry has initiated a process to reorganize the advertising market on “social networks” to promote certain products, but this time directly to advertisers and not through what it called “celebrities” that the ministry has so far refused to license, Al-Rai reports daily. The daily said that the ministry, in cooperation with the Kuwait Municipality and the media and other parties, plans to put in place controls that regulate businesses and business licensees in general, promoting the promotion of their products through “ celebrities ” indicating that these checks will ensure that celebrities can be paid through regular processes that go through the banking system, such as bank approved checks or wire transfers of known origin, then confirmation of the security of those funds on the one hand from whoever paid for it and who received it.

The sources pointed out that these controls will also regulate the accounting method for business license owners of paying celebrities the cost of their advertising, as it is expected that the advertising revenue that celebrities receive will be recorded in the budgets of companies and licensees. business licenses. Therefore, the verified financial data can be mentioned in the event that a “celebrity” is encountered in the future. Costs linked to a suspicion of money laundering, the investigative authorities being able to verify the security and accuracy of the advertising flows, in particular advertised, and compare them to the size of the funds which are the subject of the accusation.

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