Abdullah Al-Salloum (Arabic: عبد الله السلوم; Tribe: Wuhiba,

Banu Tamim The Banū Tamīm () are an Arab tribe that originated in Najd and Hejaz in the Arabian Peninsula. It is mainly present in Saudi Arabia, Qatar, Kuwait, Iraq, Oman, Jordan and Lebanon, and has a strong presence in Algeria, and Morocco, Palestine, ...

; born Abdullah Salim Abdullah Al-Salloum, August 28, 1981) is a Kuwaiti economist, entrepreneur, investor and author, who is known for his publications on the principles of political economics as well as for originating new accounting techniques that have been dedicated to public domain as part of

social responsibility Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community. An organization can demonstrate social responsibility in several ways, for instance, by do ...

Early life and education

Al-Salloum was born on August 28, 1981, in Kuwait. He earned his

master's degree in business administration A Master of Business Administration (MBA) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular ar ...

and his bachelor's degree in computer science from

Gulf University for Science and Technology Gulf University for Science & Technology (GUST) is the first private university established in Kuwait. It has a dual-enrollment agreement with the University of Missouri–St. Louis. History The university was to be a supplement to Kuwait U ...

. He's also earned a certification of international project management from the

American Academy of Financial Management The American Academy of Financial Management (AAFM) was a US-based board of standards, certifying body, and accreditation council focused on the finance sector and wealth management professionals.. AAFM was superseded by the Global Academy of Fi ...

Career

After a decade in the

private sector The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workfo ...

, Al-Salloum joined the

public sector The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, pu ...

in 2021 as advisor to the Minister of Commerce and Industry and then appointed director of the Center of Strategic Research and Development in the Insurance Regulatory Unit. Al-Salloum led the transformation of

supervision Supervision is an act or instance of directing, managing, or oversight. Etymology The English noun "supervision" derives from the two Latin words "super" (above) and "videre" (see, observe). Spelling The spelling is "Supervision" in Standard ...

on the insurance sector by establishing IruSoft; an in-house implemented platform that introduces unique supervision-technology (suptech), insurance-technology (insurtech) and regulatory-technology (regtech) modules, by which the unit requires less resources to ensure fairness, transparency and competition and to prevent conflicts of interest in the sector.

Views

COVID-19 pandemic

In an interview on Thmanyah in March 2020, Al-Salloum speculated an unprecedented

economic depression An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession ...

to take place in July 2020. The rationale was based on the paralysis of daily life caused by

Lockdown A lockdown () is a restriction policy for people, community or a country to stay where they are, usually due to specific risks that could possibly harm the people if they move and interact freely. The term is used for a prison protocol that us ...

s, where curfews caused a real decrease in

consumption Consumption may refer to: * Eating *Resource consumption *Tuberculosis, an infectious disease, historically known as consumption * Consumer (food chain), receipt of energy by consuming other organisms * Consumption (economics), the purchasing of n ...

levels. Accordingly, the global economy was negatively affected as a result of a series of decreases in demand on energy-products as well as many others. On the same interview, he mentioned how the global economy, including the

economy of the United States The United States has a highly developed mixed economy. It is the world's largest economy by nominal GDP and second largest by purchasing power parity (PPP). As of 2025, it has the world's seventh highest nominal GDP per capita and ninth ...

, would benefit from lowering oil prices during the pandemic, which contradicted the United States' presidential political view on oversupplying the oil markets. As for regional economies, Kuwait's in particular, Al-Salloum warned that generous economic packages for the

will not be feasible for the economy when viewed in a

macroeconomic Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output/ GDP ...

perspective. He believes the

does not weigh enough Export-driven value in the gross-domestic-product's equation. In terms of 2020 budget deficit in

Kuwait Kuwait, officially the State of Kuwait, is a country in West Asia and the geopolitical region known as the Middle East. It is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf, bordering Iraq to Iraq–Kuwait ...

, he believes the pandemic was not the real cause, but an accelerator. He also believes a conditional Public Debt Bill would be the best available option when other reforming Legislations pass in parallel, in particular, the ones designated to accelerate the Export-based

Economy of Kuwait

In a study he has published in

Alqabas ''Al-Qabas'' () is an Arabic daily Kuwaiti newspaper and tabloid published by Dar Al Qabas Press Printing Publishing and Distribution Company in Kuwait City. History and profile ''Al-Qabas'' was launched on 22 February 1972. The founding share ...

newspaper, as well as in other interviews, Al-Salloum illustrated how the

economy of Kuwait Kuwait has a petroleum-based economy that is classified as emerging and high-income. By various per-capita measures of economic output, Kuwait is one of the wealthiest countries in the world.exponential Exponential may refer to any of several mathematical topics related to exponentiation, including: * Exponential function, also: **Matrix exponential, the matrix analogue to the above *Exponential decay, decrease at a rate proportional to value * Ex ...

manner; pressuring future economic circumstances to be even more severe. He concluded that future economy-related decisions must consider a sustainable positive outcome for the gross domestic product equation, which only occurs by stimulating exports, shortening imports, or both concurrently.

Budget deficits in Kuwait

In another study he has published in

Kuwait Times ''Kuwait Times'' is an English-language daily published in Kuwait. It was the first English language paper in the Persian Gulf region, and remains the oldest active newspaper in Kuwait. History and profile ''Kuwait Times'' was founded by Yous ...

newspaper, Al-Salloum concluded that financial waste, corruption, isolation of returns of sovereign funds or insufficient government operational management are not the real cause of state budget deficits but the inability to overcome macroeconomic-related issues, such as transforming the state economy to an economy that is led by an exports-based private sub-sector.

Kuwaiti vision 2035

Al-Salloum believes that Kuwaiti Vision 2035 has not followed the minimum standards of the

sustainable development Sustainable development is an approach to growth and Human development (economics), human development that aims to meet the needs of the present without compromising the ability of future generations to meet their own needs.United Nations General ...

vision concept. His rationale was based on the insufficient methodology used to set the goals of that vision; by which a vision is just a collection of goals that will definitely be achieved once previously planned giant and large projects are executed. Hence, this vision would not require a real strategy to follow other than waiting.

Saudi vision 2030

Unlike Kuwaiti Vision 2035, Al-Salloum sees

Saudi Vision 2030 Saudi Vision 2030 (, sometimes called Project 2030) is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi crown pri ...

as a vision that follows reasonable standards of the

vision concept; defending most of its strategies in a book of six chapters. The reason behind having Al-Salloum focusing on the Saudi Arabian economy is the belief that Kuwait's economy, once sustainable, will be attached to the closest largest economy, Saudi Arabian.

Diversified economy

Al-Salloum's advised that following the leads of

theories will be of an added value in moving the

GCC GCC commonly refers to: * Gulf Cooperation Council, an organization of Arab states * GNU Compiler Collection, a free and open-source cross-platform compiler GCC may also refer to: Education * Good Counsel College, Innisfail, Queensland, Australi ...

economy from oil-based to diversified. Except for

, the

decision-making In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the Cognition, cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be ...

process in all other

centralized Centralisation or centralization (American English) is the process by which the activities of an organisation, particularly those regarding planning, decision-making, and framing strategies and policies, become concentrated within a particular ...

, where following those leads – in a direct manner – can be feasibly accomplished. For

's case, however, and because of the very

distributed Distribution may refer to: Mathematics *Distribution (mathematics), generalized functions used to formulate solutions of partial differential equations *Probability distribution, the probability of a particular value or value range of a varia ...

Decision-making In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the Cognition, cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be ...

process made by democracy, following those leads to have an effective economic reform must have a prior political reform.

Early retirement bill

Despite the 90% government-parliament consensus on Early Retirement Bill, Al-Salloum believes such a bill should be disregarded unless there will be real political outcomes exceeding future economic losses. He sees that, if the bill passes, the Public Institution For Social Security will accelerate towards an

actuarial Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline. In m ...

deficit that is predicted in 2067; making it less independent and more reliant on government treasury to cover its shortages. Al-Salloum's advised that the presence of

figures in governmental-parliamentary committees would fill in the gap between the two authorities in this matter. He also advised that inefficient financial management and corruption within governmental institutions must not be an excuse to pass such bills, including Loans Dropping Bill. Legislations should consider those issues instead.

Belt and road initiative

In an interview with

Xinhua Xinhua News Agency (English pronunciation: ),J. C. Wells: Longman Pronunciation Dictionary, 3rd ed., for both British and American English or New China News Agency, is the official State media, state news agency of the China, People's Republic ...

, Al-Salloum stated that the

Belt and Road Initiative The Belt and Road Initiative (BRI or B&R), known in China as the One Belt One Road and sometimes referred to as the New Silk Road, is a global infrastructure development strategy adopted by the government of China in 2013 to invest in more t ...

can help create jobs, increase

net exports Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. Sometimes, trade in services is also included in the balance of trade but the official IMF definition only consi ...

, and attract even more

foreign investments A foreign direct investment (FDI) is an ownership stake in a company, made by a foreign investor, company, or government from another country. More specifically, it describes a Controlling interest, controlling ownership an asset in one country ...

, which by the end increase the overall gross domestic product. In the interview, he stated that China has the expertise, manpower and industrial and logistic production ingredients, which crave entering a market or creating a new one. Kuwait, on the other hand, according to his opinion, has a good location that can be used to create mutual interests for both countries. Hence, he sees cooperation with China will have a positive impact on the development in

and leads the country to be more exposed and to prompt legislations to facilitate international trade.

U.S. Chinese tariffs

In another interview with

, Al-Salloum showed his visualization of China overcoming the tariffs crisis as its products are no longer globally seen as second-class, which can be justified by the improved use of expertise and research and development it has. He brought up

Apple An apple is a round, edible fruit produced by an apple tree (''Malus'' spp.). Fruit trees of the orchard or domestic apple (''Malus domestica''), the most widely grown in the genus, are agriculture, cultivated worldwide. The tree originated ...

as an example where products are marketed as designed in California and assembled in China.

Publications

Books

* Sultan of Najd (Arabic: سلطان نجد): (Subtitled: ''The throne advocating for fair wealth distribution -'' Arabic: الحكم المناصر لعدالة توزيع الثروة) () is a political economic novel that interprets –within the ancient Ukhaydhariya State– a series of events that exposed what was unknown by the throne, not only within the monetary scope, but the state politics, where the Emir gets introduced to reforming schemes meant to achieve the state's sustainability. The title was ranked the third bestseller on

Amazon Amazon most often refers to: * Amazon River, in South America * Amazon rainforest, a rainforest covering most of the Amazon basin * Amazon (company), an American multinational technology company * Amazons, a tribe of female warriors in Greek myth ...

's Arabic Literature and Fiction category. Al-Salloum Presenting Kuwait of the Sustainability to the Prime Minister

* Kuwait of the Sustainability (Arabic: كويت الاستدامة): (Subtitled: ''Vision of a people, from and to them. -'' Arabic: رؤية شعب، منه وإليه.) () A political economic book that extensively highlights the Kuwaiti economy in particular, aiming at clarifying the concept of sound economic vision through radical solutions targeting

macro-economic Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (econ ...

issues of the state. In this title, which is introduced with appraisals by Prof. Ghanim Al-Najjar – the political science professor at Kuwait University –, Ali Al-Sanad, PhD – the Islamic studies professor at the General Authority for Applied Education and Training –, and Mr. Mohammed Al-Yousifi – the historical researcher and political analyst –, Al-Salloum looks forward to raise the awareness of the economic sense; in a way that makes individuals see and understand the consequences of political and administrative decision-making outcomes, build their own view and critical opinion while being fully aware of the subject matter. The title concludes that moving Kuwait from rent to sustainability requires a major reform at the

level, a reform whose impact would wipe all

political Politics () is the set of activities that are associated with decision-making, making decisions in social group, groups, or other forms of power (social and political), power relations among individuals, such as the distribution of Social sta ...

organizational behavior Organizational behavior or organisational behaviour (see American and British English spelling differences, spelling differences) is the "study of human behavior in organizational settings, the interface between human behavior and the organiza ...

al, and

micro-economic Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the ...

obstacles facing the state. * Kingdom of the Vision (Arabic: مملكة الرؤية): (Subtitled: ''Within The Conflicts Of Sustainability And Rent -'' Arabic: بين مصارع الريعية والاستدامة) () An economic book that extensively elaborates on Saudi Arabia's Vision 2030; linking its strategy to macroeconomics' theories. The title was ranked as best-seller on Jamalon – middle-east's largest online book retailer – as well as on

's Arabic books' category. * The Currency of Mount Serenity (Arabic: مال جبال السكينة): A novel (Subtitled: ''The monetary system: from favor to post-tar-inar eras -'' Arabic: النظام المالي بين حقبتي الامتنان وما بعد الزفتينار) () that interprets – in a virtual world – the historic development eras of the real monetary system. The title was ranked as best-seller on Jamalon; middle-east's largest online books retailer.

Studies

The Truth Behind Kuwait's Budget Deficits
– (February 2020)

Newspaper
Economy of Kuwait Is Driven By Out-of-Control Variables
– (August 2019)

Newspaper

Articles

Has the Government Program Considered the Real Flaw?
– (December 2020)

Newspaper
The Kuwaiti Dinar, Where to?
– (October 2020) Thmanyah Publishing
The Reasons Behind Generousity Differences in COVID-19's Economic Packages
– (September 2020)

Newspaper
Well-Being Within Money Eras
– (September 2020) Thmanyah Publishing
Kuwait's Economy on The Verge of No Return
– (August 2020)

Newspaper
A Recession is Closer, Thank you OPEC+
– (April 2020)

Newspaper
Public Debt Bill is Inevitable, But..!
– (April 2020)

Newspaper
Nazahah's Memorandum of Understanding With Egypt
– (December 2019)

Newspaper
KOTS Series: Kuwait of the Sustainability
– (December 2019)

Newspaper
We Complain Whilst We're The Defect
– (December 2019)

Newspaper
KOTS Series: Vision, The Concept
– (November 2019)

Newspaper
KOTS Series: The Turning Point II
– (November 2019)

Newspaper
KOTS Series: The Turning Point I
– (November 2019)

Newspaper
KOTS Series: Management In Rentier State II
– (November 2019)

Newspaper
KOTS Series: Management In Rentier State I
– (November 2019)

Newspaper
May God Help You, First Northern Zour
– (September 2019)

Newspaper
KOTS Series: Society In Rentier State II
– (October 2019)

Newspaper
KOTS Series: Society In Rentier State I
– (October 2019)

Newspaper
KOTS Series: Realization Moment
– (September 2019)

Newspaper
KOTS Series: Introduction
– (September 2019)

Newspaper
We're The Healing That We Don't See, The Disease That We Don't Feel
– (September 2019)

Newspaper
Actuarial Implications of Early Retirement Bill
– (January 2019) Aljarida Newspaper
Loans Dropping, As If Abu Zaid Did Not Invade
– (December 2018) Aljarida Newspaper
Between The Scarcity of Housing And Aunt Hissa's Mash, There Is A Long Story
– (December 2018) Aljarida Newspaper
Democracy And Rentier State Do Not Converge
– (December 2018) Aljarida Newspaper
No Sustainability Without Private Sector's Exports
– (November 2018) Aljarida Newspaper
Constitution's Knight: The Game's Pawn
– (November 2018) Aljarida Newspaper
Saudi Aramco: Borrowing To Repurchase
– (February 2018) Alphabeta Argaam
Accelerating Entrepreneurship Remains Rentier
– (February 2018) Alphabeta Argaam
Scarcity In Fiat And Virtual Currencies
– (January 2018) Alphabeta Argaam
Ripple: The Highest ROI In 2017
– (January 2018) Alvexo News
Bitcoin: Where to?
– (December 2017) Alvexo News
Saudi Arabian 2017–2018 Annual Report
– (December 2017) Alphabeta Argaam
Anti-Corruption In Saudi Aramco's Listing Equation
– (November 2017) Alvexo News
NEOM: Singapore Of The Red Sea
– (October 2017) Alvexo News
Baitek And Ahli United: Merger And Acquisition
– (October 2017) Alphabeta Argaam
Non-Rentier Vs. Sustainability
– (October 2017) Alphabeta Argaam
Reduction Of Retirement Age: The Actuarial Perspective
– (September 2017) Alphabeta Argaam
Diseconomies Of Scale In E-Businesses
– (September 2017) Alphabeta Argaam
Artificial Intelligence In Business Decision Making
– (September 2017) Alphabeta Argaam
JASTA And The IPO Of Saudi Aramco
– (September 2017) Alphabeta Argaam
Pricey Criteria Towards Reasoning
– (August 2017)

Newspaper
Islamic Finance and ISIS
– (July 2017)

Newspaper
Wobbling Bridge
– (July 2017)

Newspaper
Technical Analysis On Thursday's Plate
– (June 2017)

Newspaper
Sustainability Of Mash And An Actuarial Cinnamon
– (June 2017)

Newspaper
Sovereign Funds, And Youth
– (May 2017)

Newspaper
Your Highness, Don't Use Others' Excuse!
– (May 2017)

Newspaper
Injustice Towards The Minister
– (May 2017)

Newspaper
Citizens And Expatriates Are Equal Towards A Country's Wealth
– (April 2017)

Newspaper
Economic Philosophy And Monetary Systems
– (April 2017)

Newspaper
Santiago And The Investments Of Our Sovereign Funds
– (March 2017)

Newspaper
The Sustainability Of A Competitive Business Environment And Foreign Residents
– (March 2017) Aljarida Newspaper
The Valuation Of Saudi Aramco
– (March 2017)

and

Elaph Elaph (; ''Solidarity'') is the first daily Arabic independent online newspaper and is not associated with any established print or broadcast medium. History and profile ''Elaph'' was launched by Elaph Publishing in London in 2001. The reason fo ...

Newspapers
Our Vision And Theirs
– (February 2017)

Newspaper

Dhammin

Al-Salloum has founded Dhammin (Arabic: ضمّن); a smart political platform that manages candidates' electoral campaigns for the

National Assembly In politics, a national assembly is either a unicameral legislature, the lower house of a bicameral legislature, or both houses of a bicameral legislature together. In the English language it generally means "an assembly composed of the repr ...

Municipal council A municipal council is the legislative body of a municipality or local government area. Depending on the location and classification of the municipality it may be known as a city council, town council, town board, community council, borough cou ...

Cooperative Society A cooperative (also known as co-operative, coöperative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democra ...

councils. It has been stated in news reports and interviews that the platform is the first within the field to apply distributed-systems' methodologies.

Accounting techniques

Award_of_Youth_Volunteer_and_Humanitarian_Initiatives_Forum

Al-Salloum has developed – then dedicated to public domain – new accounting techniques using an

open-source Open source is source code that is made freely available for possible modification and redistribution. Products include permission to use and view the source code, design documents, or content of the product. The open source model is a decentrali ...

code and gave it a –

CC0 A Creative Commons (CC) license is one of several public copyright licenses that enable the free distribution of an otherwise copyrighted "work". A CC license is used when an author wants to give other people the right to share, use, and bui ...

– license to be developed and republished as part of

. The techniques help

businesspeople A businessperson, also referred to as a businessman or businesswoman, is an individual who has founded, owns, or holds shares in (including as an angel investor) a private-sector company. A businessperson undertakes activities (commercial ...

to easily create qualified and advanced

feasibility studies A feasibility study is an assessment of the practicality of a project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats pr ...

(managerial,

technical Technical may refer to: * Technical (vehicle), an improvised fighting vehicle * Technical area, an area which a manager, other coaching personnel, and substitutes are allowed to occupy during a football match * Technical advisor, a person who ...

, financial and market feasibility, as well as

pricing mechanism The following outline is provided as an overview of and topical guide to industrial organization: Industrial organization – describes the behavior of firms in the marketplace with regard to production, pricing, employment and other decisi ...

) by inserting basic information. These techniques also assist Households rationalize their

Expense An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs. For a tenant, rent is an expense. For students or parents, tuition i ...

s, to either raise savings or lower liabilities, with a minimum lifestyle change. The techniques have expanded to determine the valuation of running businesses for the purpose of acquisition or sale; creating more efficient negotiation outcomes. Al-Salloum has given free workshops on how such techniques can be used to get more realistic and reasonable results. In November 2019, Al-Salloum, as the author of these accounting techniques, received the Award of Youth Volunteer and Humanitarian Initiatives Forum, along with 14 others out of 620 initiatives participating from 16 different Arab countries.

Awards

* Award of Youth Volunteer and Humanitarian Initiatives Forum

References

External links

* {{DEFAULTSORT:Salloum, Abdullah Gulf University for Science and Technology alumni Kuwaiti economists Kuwaiti writers 1981 births Kuwaiti businesspeople Living people 21st-century Kuwaiti businesspeople