Market experts in Saudi Arabia have expressed apprehensions about some unplugged loopholes in this move that could be exploited by fraudsters. For example, they said, if a self-sponsored swindler enters into a business transaction worth millions and flees the country leaving behind no traces, there is nothing that can be done to retrieve the lost money.

In addition to the bank account stipulation, any expatriate applying for sponsorship must have been in business or a partner in a Kuwaiti company for at least two years, according to a report in The Kuwait Times.

“There are some nationals who are crooked or maybe some people will acquire visas and then commit crime. Since they are not controlled by any company owner, they can easily commit crimes and disappear. What is the assurance that erring workers can be asked to answer for their crimes?” a Kuwaiti employer was quoted as saying in the report.

A Pakistani businessman in Kuwait City, however, said the proposed selective change in the visa system will be great for business in Kuwait.

“It is good for us but most especially for Kuwait’s business sector,” he said. “You are in fact erasing our reservations to do business in Kuwait,” he added.

The amendment to the current law has been proposed by Kuwait’s Ministry of Social Affairs and Labour.

The proposal was first raised in 2005 as a draft law and is now being studied by the ministry.

Kuwait in May barred nationals from Iran, Iraq, Syria, Pakistan and Afghanistan from entering the country over fears political instability in those nations could pose a risk to its security.