Boursa Kuwait marks key milestone in Capital Market Development Program
KUWAIT: Boursa Kuwait on Sunday celebrated the launch of the second part of Phase III of the Capital Market Development Program, a major step forward in the ongoing modernization of Kuwait's financial markets. In a ceremony held at the exchange, CEO of Boursa Kuwait Mohammed Saud Al-Osaimi welcomed the chairman and commissioners of the Capital Markets Authority (CMA), representatives from Kuwait Clearing Company, and other distinguished guests.
'It is a great pleasure and honor to welcome you all to Boursa Kuwait on this occasion, as we celebrate the launch of the second part of Phase III of the Capital Market Development Program — a milestone that reflects the market ecosystem's firm commitment to continued development in line with global best practices,' he said in his opening remarks. Al-Osaimi emphasized that this achievement marks a qualitative leap in the evolution of the market, made possible through the collaborative efforts of CMA, Central Bank of Kuwait, Kuwait Clearing Company and Boursa Kuwait, along with key stakeholders including banks, investment firms and brokerage companies.
'This phase saw a comprehensive upgrade of the operational and technical infrastructure, including enhancements to the clearing and settlement framework and upgrades to the trading systems,' he said. 'We also improved market structure through the implementation of the Qualified Broker Model and introduced more precise and transparent account management mechanisms.' He added that the latest developments underscore the market's readiness to move into more advanced stages in the future and reaffirm a shared vision for an efficient, resilient capital market that supports economic growth and attracts investment.
Al-Osaimi extended his appreciation to all those involved in the achievement, with special thanks to CMA Chairman Emad Tefouni and the members of the board of commissioners for their continued support of the market's development initiatives. He reaffirmed Boursa Kuwait's commitment to continue advancing the capital market in close partnership with all stakeholders, ensuring sustainable progress and reinforcing Kuwait's position as a leading regional financial hub. 'Thank you for your valued presence,' he concluded.
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