Bang & Olufsen Kuwait transferred from Marafie Group to BNK Holding
B&O is a Danish high-end consumer electronics company founded in 1925 that designs and manufactures high-quality audio and video products. It collaborates with star designers, including Jacob Jensen and David Lewis, who have helped create a unique design identity for the brand that combines modernity with simplicity.
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Kuwait Times
12-07-2025
- Kuwait Times
Kuwait unveils pivotal capital market transformation program: Al-Kharafi
MD 3.2, a milestone in the continued advancement of Kuwait's capital market KUWAIT: Reaffirming its commitment to building a more efficient, attractive, and globally competitive market that meets investor ambitions and aligns with international best practices, the Kuwaiti capital market apparatus has launched part two of the third phase of its comprehensive market development program (MD 3.2). This phase included a series of core initiatives aimed at strengthening the operational and regulatory infrastructure as well as expanding the range of products and services in the Kuwaiti capital market. Led by the Capital Markets Authority (CMA) and in collaboration with the Central Bank of Kuwait, local banks, investment firms and brokerage companies, Boursa Kuwait and the Kuwait Clearing Company (KCC) delivered a variety of transformative products, services and infrastructure enhancements, including the introduction of the Central Counterparty (CCP) framework, which reduces risks and provides guarantees to advance clearing and settlement processes in line with international standards. Among the other enhancements are cash settlements through local banks and the Central Bank of Kuwait's KASSIP system; the upgrade of brokerage firms' operating models to 'Qualified Broker' status, marking a significant step forward in market structure; and the introduction of sub-account numbers under omnibus accounts, which will strengthen transparency and oversight. In addition, the technical environment and IT infrastructure have been fully prepared and upgraded, with comprehensive testing conducted with all relevant parties in preparation for the listing and trading of Exchange-Traded Funds (ETFs) and fixed-income instruments, including bonds and sukuk. Legislative updates for these products are expected to be introduced later. This milestone represents one of the most significant transformations in the market's history since the privatization of Kuwait's stock exchange. It aims to reshape the regulatory and operational infrastructure of the market, paving the way for the introduction of new instruments and investment products that will deepen market liquidity, enhance its breadth and reinforce its role as a strategic driver of national economic growth. Commenting on this achievement, Boursa Kuwait Chairman Bader Nasser Al-Kharafi affirmed that these developments represent a pivotal milestone in the continued advancement of Kuwait's capital market, reinforcing its position and competitiveness on both regional and international levels. He highlighted that this achievement also reflects Boursa Kuwait's steadfast commitment to supporting the State's ambitious vision of establishing Kuwait as a leading regional financial center that attracts investment, while working in close partnership with all stakeholders to implement a comprehensive strategic roadmap that accelerates market development and enhances its contribution to national economic growth. 'We greatly value the remarkable efforts that have driven the various phases of the Market Development Program for Kuwait's capital market, a reflection of the power of constructive cooperation between the public and private sectors, which stands as a national model for realizing economic objectives and development ambitions rooted in innovation and professionalism,' Al-Kharafi said. Boursa Kuwait Chairman Bader Nasser Al-Kharafi Boursa Kuwait CEO Mohammed Saud Al-Osaimi 'This collaboration has played a vital role in advancing market infrastructure and introducing sophisticated products and services that promote a more transparent and dynamic investment environment. These efforts are essential to attracting capital, generating added value for the national economy, and supporting the diversification of income sources,' he added. Al-Kharafi concluded by extending his sincere thanks to all parties who contributed to this achievement, saying: 'I would like to express my deep appreciation to the Central Bank of Kuwait, the Capital Markets Authority, and Kuwait Clearing Company for their continued support, which has played a vital role in strengthening market stability and enhancing its standards of transparency and governance. I also commend the cooperation of our partners in the financial sector, who remain a cornerstone in the ongoing development of Kuwait's capital market. Boursa Kuwait remains committed to providing an exceptional investment experience for all market participants and continuing the joint efforts to reinforce Kuwait's position as a leading financial hub in the region.' Boursa Kuwait led the efforts to prepare the market's infrastructure for the launch of this latest phase, which represents a significant operational milestone for the bourse and the capital market apparatus. The exchange was instrumental in implementing the technical framework in MD 3.2, as it continued upgrading the trading system, which will support the introduction of new products, strengthen market integration, and lay the foundation for future offerings such as derivatives. The upgrades also highlight the market's readiness to broaden its range of investment instruments and align its regulatory framework with world-class standards. 'The launch of this phase reflects our unwavering commitment to developing an advanced, efficient trading environment that meets the highest international standards,' stated Boursa Kuwait's Chief Executive Officer, Mohammed Saud Al-Osaimi. 'It is the product of close collaboration across the capital market apparatus and represents a key step in expanding the depth, transparency and resilience of Kuwait's capital market.' 'Alongside the enhanced capacity of our technical systems to introduce advanced financial instruments, MD 3.2 represents a major milestone in Boursa Kuwait's efforts to build a more diverse, robust and efficient financial market, underscoring our readiness to advance to the next stage once the relevant rules and regulations are in place, enabling both the public and private sectors to utilize flexible, effective financing solutions that drive sustainable economic growth,' he added. Al-Osaimi concluded his statement by saying, 'We take great pride in our ability to translate our strategic vision into tangible operational achievements that demonstrate the strong collaboration and alignment of roles across all components of our capital market. Boursa Kuwait remains committed to working closely with our partners at the Central Bank of Kuwait, the Capital Markets Authority, Kuwait Clearing Company and all stakeholders in the financial sector to further enhance market readiness, attract greater domestic and foreign capital and solidify Kuwait's position as a leading financial center in the region.' The launch of MD 3.2 marks a significant step in strengthening Kuwait's capital market and reinforcing its position as a leading financial hub regionally and internationally. It builds on a comprehensive reform journey aimed at broadening the range of investment products, improving the efficiency of the operational infrastructure and applying the highest standards of governance and transparency to meet investor expectations and enhance the appeal of the Kuwaiti capital market. This milestone reflects the successful realization of a strategic vision to build a resilient, secure and transparent capital market that enables issuers to access diverse financing tools and provides investors with more stable and varied opportunities. The capital market apparatus remains committed to advancing infrastructure development and enhancing the investment environment, contributing to the national economy, advancing the UN's sustainable development goals and solidifying Kuwait's position as a pioneering financial center in the region and a destination of choice for capital from across the globe.
Kuwait Times
30-06-2025
- Kuwait Times
Zain launches 5G Advanced, unlocking new horizons for Kuwait's digital economy
Achievement embodies HH the Amir's vision of to transform Kuwait into a regional hub for digital economy: Bader Al-Kharafi KUWAIT: Zain has officially launched its next-generation 5G Advanced network, delivering nationwide coverage across most of Kuwait. The rollout marks a major step forward in unlocking the full potential of the digital era and establishing a highly advanced infrastructure that supports ultra-fast internet speeds throughout the country. Zain affirmed that its 5G Advanced network was built according to the highest global standards to meet the growing demand for data services, support smart city applications, power the Internet of Things, and accommodate the evolving digital lifestyle across sectors. The launch follows the official announcement by the Communication and Information Technology Regulatory Authority (CITRA) regarding the activation of 5G Advanced in Kuwait, a milestone toward building robust digital infrastructure and laying the groundwork for the adoption of 6G technologies in the near future. Kuwait now ranks among the first countries worldwide to deploy 5G Advanced commercially, underscoring its pioneering role in adopting cutting-edge telecom technologies and enhancing its position as a forward-looking digital hub. Zain Vice Chairman and Group CEO, Bader Nasser Al-Kharafi, stated: 'This milestone reflects the directives of His Highness the Amir, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, to foster a thriving investment environment in which the ICT sector drives economic growth and positions Kuwait as a regional hub for the digital economy.' Al-Kharafi praised the extensive support from the government, particularly the efforts of the Minister of State for Communications Affairs Omar Al-Omar, and Acting Chairman of CITRA Sheikh Athbi Jaber Al-Sabah, for enabling this successful and seamless launch both technically and commercially. He continued: 'This progress places Kuwait among the first nations globally to launch 5G Advanced commercially, reinforcing the country's leadership in providing high-performance digital infrastructure. It opens vast opportunities to accelerate digital transformation, power smart services and IoT, and redefine the connectivity experience for all.' Al-Kharafi added that the launch aligns with Zain's recently announced 4WARAD strategy, which focuses on continuity, acceleration, collaboration and digital innovation: 'Through this launch, we reaffirm our commitment to meeting growing data demands, exploring new digital business models, and continuing our journey to evolve into a fully integrated technology company.' He further noted: 'We have heavily invested in upgrading our network to support the latest global advancements. We look forward to deepening our collaboration with government entities to help achieve the Kuwait Vision 2035 and place the country at the heart of the global technology revolution.' Nawaf Al-Gharabally, CEO of Zain Kuwait, commented: 'With the launch of 5G Advanced, we are contributing to a new chapter in Kuwait's digital transformation journey, an extension of Zain's longstanding efforts in national digital development since its inception in 1983.' He emphasized: 'This deployment reflects the outcomes of early investment in infrastructure, rigorous technical readiness, and successful nationwide field testing by Zain's network team, which ensured seamless coverage across most of the nation from day one.' 'This strategic move enhances Zain's proactive vision and operational excellence in delivering next-generation connectivity that meets the highest global benchmarks and offers a more advanced and reliable communications experience to the largest customer base in Kuwait.' he added. Al-Gharabally continued: 'We have strengthened our collaboration with global technology partners and leveraged our international expertise to adapt 5G Advanced in line with national priorities. We are proud to play a vital role in a leap that will benefit individuals, businesses, and the community at large.' To commemorate the launch, Al-Gharabally revealed that Zain has released a new TV commercial that reflects the human essence of technology: 'This campaign celebrates the moments that touch people's hearts and adds emotional depth to the connectivity experience.' He continued: 'The launch of this creative content aligns with our belief that technology is not solely defined by speed, but by its ability to build bridges between people and empower them to live their most wonderful moments. That is the true value we aim to deliver through 5G Advanced.' 30-Day Free Trial from Zain As part of its efforts to bring this next-generation experience to its customers, Zain is offering a free 30-day trial* of the 5G Advanced service to eligible postpaid subscribers starting 30 June until 29 July 2025. Eligible users will be automatically upgraded to the 5G Advanced network on their compatible devices at no additional cost during the offer period. To activate the service, customers can follow the simple steps provided on Zain's website and official communication channels. *Terms and conditions apply. For more information, visit A Leap in Network Capability 5G Advanced represents a significant leap in network performance, delivering much higher speeds compared to standard 5G. It is ideal for ultra-high-definition streaming, large file downloads, and lag-free online gaming, even during peak usage times. The technology also features ultra-low latency, enabling lightning-fast data transmission between devices and the cloud. This results in seamless performance for real-time applications like cloud gaming, video calls, connected vehicles, and AI-based services. Additionally, 5G Advanced offers smart bandwidth management through Component Carrier Aggregation, which allows the network to handle heavy usage efficiently without congestion or performance degradation. 'Live Your Wonderful': A Human-Centric Campaign To mark this technological milestone, Zain launched a new marketing campaign under the theme 'Live Your Wonderful', which includes a heartfelt television commercial highlighting the emotional impact of technology in our lives. The campaign takes viewers on an emotional journey through simple, everyday moments that become deeply meaningful when shared with loved ones. With 5G Advanced from Zain, these moments feel closer and more profound, perfectly reflecting the company's vision of using technology to enrich human connection. This campaign is part of Zain's ongoing efforts to connect with customers on a human level, and to spotlight how modern technology can enhance the beauty, meaning, and connectivity of daily life. Zain: A Pioneer in Tech Innovation The launch of 5G Advanced is the latest in a long line of achievements for Zain in leading Kuwait's telecom and technology sector. Since its founding in 1983 as the region's first mobile operator, Zain has consistently introduced groundbreaking technologies that shaped the local market. The company pioneered GSM services in 1994, followed by the country's first nationwide 4G LTE rollout in 2012, and became the first in the GCC to commercially launch 5G in 2019. Zain's commitment to excellence was reaffirmed in 2024 when it received five Speedtest Awards from Ookla, the global leader in network intelligence and connectivity insights. Zain won the titles of Fastest Mobile Network, Best 5G Gaming Experience, Best 5G Video Experience, Best Mobile Network, and Fastest 5G Network in Kuwait. The results were based on hundreds of thousands of consumer-initiated tests across the country during the second half of 2024, placing Zain clearly at the forefront of network performance nationwide. With this official launch, Zain Kuwait once again reaffirms its role as a leader in shaping the country's digital future, delivering innovative services that enhance customer experience and contribute to the growth of a robust digital economy. Zain remains a trusted partner in connecting Kuwait to what's next. Zain 5G Advanced 2025 Zain Kuwait HQ Building Zain Kuwait CEO Nawaf Al-Gharabally
Kuwait Times
04-06-2025
- Kuwait Times
Bang & Olufsen Kuwait transferred from Marafie Group to BNK Holding
KUWAIT: Following mutual agreement, Bang & Olufsen Kuwait has been transferred from Marafie Group of Companies to Bader Nasser Al-Kharafi Group (BNK Holding). The announcement was made in an event attended by BNK Holding's owner Bader Nasser Al-Kharafi and Vice Chairman and CEO of Marafie Group Abdul Hakim Abdul Fattah Marafie. B&O is a Danish high-end consumer electronics company founded in 1925 that designs and manufactures high-quality audio and video products. It collaborates with star designers, including Jacob Jensen and David Lewis, who have helped create a unique design identity for the brand that combines modernity with simplicity.
