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XBRL guide for Kuwait — who must file and how to prepare.

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XBRL guide for Kuwaiti companies

XBRL in Kuwait: filing financial statements on Qayd

From 1 January 2027, every company in Kuwait files its balance sheet and financial statements in XBRL through Qayd, the Ministry of Commerce and Industry's portal. Here is what you need to know, plus a free Qayd tool that prepares your file from the trial balance.

Prepare your Qayd file from the trial balance → Book a free demo

Last updated: 30 September 2026

XBRL dates in Kuwait

  1. 5 January 2025 Companies listed on Boursa Kuwait and CMA-licensed entities must file disclosures in XBRL through the CMA's iFSAH system.
  2. January 2026 The Ministry of Commerce and Industry announces Qayd for filing financial statements in XBRL, optional during 2026.
  3. April 2026 Phase one of the Qayd portal (the enablement phase) goes live at qayd.moci.gov.kw.
  4. 1 January 2027 Filing through Qayd becomes mandatory for all legal entities, and statements submitted outside the system are not accepted.

What is XBRL?

XBRL (eXtensible Business Reporting Language) is a global standard that turns financial statements from a document you read into data that systems understand. Instead of a PDF, every figure in your statements carries a "tag" that defines it: this is revenue, for this company, for this year, in Kuwaiti dinars.

That lets the receiving authority check the file automatically (does the balance sheet balance, are the totals right?) and compare figures across companies and years without retyping them. XBRL doesn't change your figures or your accounting standards, only the way they are delivered.

Why do regulators require it?

  • Instant automatic checks: the system catches an unbalanced balance sheet or a wrong total the moment you file.
  • No retyping: figures are read directly instead of copied from PDFs.
  • Comparison and analysis: companies, sectors and years compared easily.
  • A global standard: the same standard used by capital markets and regulators worldwide.

Terms you'll meet

Taxonomy The dictionary of every allowed financial item, such as "Revenue" and "Inventories". The best known is the IFRS taxonomy.
Element / tag The item name from the taxonomy attached to your figure, such as Revenue.
Instance document The file that holds your company's tagged figures, with the .xbrl extension.
Context Which company and which period a figure belongs to: at a date (like the balance sheet) or for a period (like the income statement).
Unit The figure's currency; in Kuwait, KWD.
Decimals How precise the figure is: 3 for fils, 0 for dinars, −3 for thousands.
Validation Automatic checks: are the items valid, and do the totals and balance hold.
Inline XBRL (iXBRL) A format that combines a human-readable page with the tags in one file.

From your statement to XBRL: one line, explained

In the audited income statement: Revenue KWD 520,000.000. In the XBRL file, that line becomes:

<ifrs-full:Revenue contextRef="CY_D" unitRef="KWD" decimals="3">520000.000</ifrs-full:Revenue>
ifrs-full:Revenue The tag: the "Revenue" item from the IFRS taxonomy
contextRef="CY_D" The context: this company, for the current financial year
unitRef="KWD" The unit: Kuwaiti dinar
decimals="3" Precision: to the nearest fils
520000.000 The figure itself, without separators

XBRL vs PDF vs Excel

PDF Excel XBRL
Human-readable Yes Yes With a viewer
Machine-readable No Partly, with no item definitions Yes, every figure defined
Automatic balance and total checks No Manually Yes
Required on Qayd from 2027 No No Yes

Who must file XBRL in Kuwait?

Through Qayd (Ministry of Commerce and Industry)

All legal entities, including:

  • Public and closed shareholding companies
  • Limited liability companies (WLL)
  • Single-person companies
  • General and limited partnerships
  • Sole proprietorships

Audit firms use the system too.

Through iFSAH (Capital Markets Authority)

Companies listed on Boursa Kuwait and CMA-licensed persons, for their disclosures and periodic statements.

These entities use the CMA's own tool (iFile). Cortex's Qayd workspace is for preparing companies' Qayd files from the trial balance.

How do you file your statements in XBRL?

  1. 1
    Close your books for the year.

    Prepare the balance sheet, profit or loss statement and cash flow statement.

  2. 2
    Finalise the statements with your auditor.

    The figures in the Qayd file must match the audited statements.

  3. 3
    Fill the Qayd template from the trial balance.

    The Qayd workspace maps accounts, builds the statements and notes, then fills your company's Qayd file.

  4. 4
    Review and validate the file in Excel.

    Enable macros and press the template's validate button.

  5. 5
    File it on the Qayd portal

    following the Ministry of Commerce and Industry's instructions at qayd.moci.gov.kw.

The free Cortex tool covers the path from trial balance to a ready Qayd file.

Start free →

Before you start: what you need for your Qayd file

  • The audited financial statements for the year (or the trial balance from your system)
  • Prior-year figures for comparison
  • The commercial registration / civil ID and the company's official name, as registered
  • The company's legal form
  • The start and end dates of the financial year
  • The empty Qayd file from the company's portal account
  • A way to reach your auditor to review the file
  • Your company's Qayd account, as instructed by the Ministry of Commerce and Industry

What does your Qayd file contain?

  • Company information: name, civil ID, legal form, financial period and currency.
  • Statement of financial position: assets, liabilities and equity at year end.
  • Statement of profit or loss: revenue, costs, expenses and net profit.
  • Statement of cash flows: cash from operating, investing and financing activities.
  • Comparatives: the same items for the prior year.

Common mistakes that delay filing

  • An unbalanced balance sheet: total assets don't equal total equity and liabilities.
  • Wrong signs: entering expenses as negatives, or cash outflows as positives.
  • Cash that doesn't reconcile: opening cash plus net change doesn't equal balance-sheet cash.
  • The wrong unit: statements in thousands of dinars entered as if in dinars.
  • Company details: a name or registration number that doesn't match the official record.

The Qayd workspace checks balances, cash flow and the Qayd template's rules before you open the file.

Free XBRL tool: from trial balance to a ready Qayd file

Upload the trial balance; we map the accounts, build the statements and notes, and fill your company's Qayd file. Free for one company.

Start free →

Review the file with your auditor before filing.

Your financial statements ready all year with Cortex

  • Automatic entries: every sale, purchase and payroll run becomes an entry, so you don't wait for year end.
  • Balance sheet and P&L any day: Arabic and English reports in KWD to 3 decimals.
  • Period close: locking the month and year prevents edits after figures are final.

See Cortex Accounting →

XBRL in Kuwait: FAQ

Is XBRL mandatory in Kuwait?

Yes. The Ministry of Commerce and Industry announced that filing financial statements through Qayd is mandatory for all legal entities from 1 January 2027, and optional during 2026.

Do sole proprietorships and small companies have to file?

Yes. According to the Ministry's announcements, the requirement covers all legal entities, including sole proprietorships and small companies.

What is Qayd?

The Ministry of Commerce and Industry's national system for filing financial statements electronically, at qayd.moci.gov.kw.

What's the difference between Qayd and iFSAH?

Qayd is for filing annual financial statements with the Ministry of Commerce. iFSAH is the Capital Markets Authority's system for listed companies and CMA-licensed entities.

Is there a free XBRL tool?

Yes. Cortex's Qayd workspace is a free Qayd tool for one company: you upload the trial balance and we fill the Qayd template, then you upload it to Qayd, the Ministry of Commerce's portal, which converts it to XBRL automatically.

Do I upload an XBRL file myself?

No. You upload the Qayd Excel file after filling and validating it, and the portal converts it to XBRL automatically.

Why don't the file's validation buttons work?

Because macros are disabled. Open the file and click Enable Macros when the warning appears.

Do you keep my financial data?

It's stored encrypted in your account so the mapping can be reused next year. Only your account's users can see it, and you can delete any company and all its data at any time.

Sources

  • Ministry of Commerce and Industry — Qayd portal: qayd.moci.gov.kw
  • Capital Markets Authority — iFSAH: cma.gov.kw/en/web/ifsah
  • IFRS Foundation — IFRS Accounting Taxonomy 2025: ifrs.org
  • XBRL International — Qayd news: xbrl.org

This page is general guidance, not legal or accounting advice. The Ministry of Commerce and Industry's instructions prevail.

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