Boursa Kuwait was an active participant in the Capital Markets Authority’s third annual conference, titled ‘Capital Markets and Institutional Sustainability’. The event took place on Thursday, March 22, 2018, at the Jaber Al-Ahmad Cultural Center, where Boursa Kuwait’s CEO, Khaled Abdulrazzaq Al Khaled, was one of the panelist in a panel discussion on the effect of reclassifying the Kuwaiti market as a secondary emerging market by FTSE Russell.
The conference forms part of the efforts of the Capital Market Authority to highlight important issues related to the state of the local capital market and to discuss the latest developments related to the role of regulators.
Mr. Al Khaled spoke about the importance of positive market classification and its expected impact. He also underlined that derivatives are going to play a vital role in the successful advancement of the Kuwaiti market, as their introduction will increase the demand for local securities by sophisticated investors. Furthermore, the CEO highlighted the benefits of having a diverse investor base and introduced some of the initiatives the stock exchange has been working on which are aimed at enhancing market liquidity.
Speaking at a panel with Mr. Gary Rynhoud, Director of Middle East and Africa at FTSE Russell and Mr. Faisal Abdullatif AlHamad, CEO of NBK Capital, Mr. Al Khaled said, “Kuwait’s classification as a secondary emerging market puts the Boursa Kuwait and the locally listed companies on the map for institutional investors, which will naturally increase market liquidity given the allocation that passive funds are likely to be deploying towards. We are proud to see that our efforts in transforming the Kuwaiti stock market and creating the right infrastructure have started to pay off. I am confident we are paving the way for further progress that one day will put Kuwait in the ranks of developed markets.”
Boursa Kuwait’s participation in the 3rd annual CMA conference is in line with its vision to develop a liquid, reliable and sound capital market providing issuers with efficient access to capital, and investors with diverse return opportunities, which will help Boursa Kuwait evolve as a leading regional exchange. Since its official licensing in October 2016 by the Capital Market Authority, Boursa Kuwait has been committed to creating and operating an efficient, fair and transparent capital market platform that services all relevant asset classes, whilst focusing on clients’ interests. Its strategy focuses on developing the overall market status and addressing the needs of market participants through the provision of investment tools, restructuring the market to increase its competitiveness and liquidity, and attracting investments from local and international investors.
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