Latest news with #Al-Osaimi
Kuwait Times
5 days ago
- Business
- Kuwait Times
Boursa Kuwait marks key milestone in Capital Market Development Program
Mohammed Saud Al-Osaimi, CEO of Boursa Kuwait 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.
Arab Times
5 days ago
- Business
- Arab Times
Boursa Kuwait to launch sukuk, bond trading in 2025
KUWAIT CITY, July 14: Chief Executive Officer (CEO) of Boursa Kuwait Mohammad Al-Osaimi said the timeline for debt instrument trading is proceeding as planned, indicating that sukuk and bonds will be traded in 2025. He affirmed that all technical tests for index funds and the bond and sukuk market have been completed, and the regulatory rules are currently being prepared and will be announced within the next few months. Al-Osaimi announced on the sidelines of the launch of the second part of the third phase of the Capital Market Development Program, which is a major milestone that reflects the market system's commitment to continue development per international best practices. Regarding the expected volume of debt instrument trading on the stock exchange, Al-Osaimi explained, 'The current value of commercial debt instruments does not exceed KD2 billion, but after the approval of the Debt Law, we aspire to list government bonds and sukuk'. He pointed out that the stock exchange has a development program extending over three or four years to introduce major updates to its trading system. He revealed 'we will begin testing the new trading system in the second half of 2026.' He stated that the stock exchange is cooperating with the Capital Markets Authority (CMA) to review several products to better present them, stressing that the introduction of the CCP and the Central Broker will help the stock exchange offer financial derivatives soon. He explained that these developments will lead to attracting foreign investments, coinciding with increased investor confidence. About amending the listing requirements on the main market, Al-Osaimi confirmed that 'when the reduction of listing requirements on the main market was approved by reducing the company's capital limit from KD15 million to KD5 million, we received numerous communications from subscription managers in this regard.' He anticipates listings shortly. He disclosed that two family companies are currently negotiating with the stock exchange for listing, explaining that the stock exchange intends to attract companies in various sectors, including commercial, government, and family businesses. He said the listing procedures and requirements are not easy, as companies are being reorganized and prepared for this step, which may require a period that may extend to several years. He clarified that there is currently no intention to list oil sector companies, disclosing that there have been discussions with the Public-Private Partnership Authority to list a government company such as North Al-Zour next year. He added, 'The launching of the second part of the third phase of the Capital Market Development Program -- the main station -- reflects the market system's commitment to continue development following international best practices.' He emphasized that 'this achievement is a qualitative shift in the development process of the market and it is the result of the concerted efforts of CMA, Central Bank of Kuwait, Kuwait Clearing Company, Boursa Kuwait, and our partners from banks, investment companies and financial brokerage companies.' He confirmed that this phase witnessed a comprehensive development of the operational and technical infrastructure, including strengthening the clearing and settlement system, upgrading and modernizing trading systems, and improving the market structure through the implementation of the 'Qualified Broker' model and the application of more accurate and transparent mechanisms for account management. He explained that this achievement affirms the readiness of the market for more advanced stages in the future, and a shared vision for an efficient and flexible financial market capable of supporting economic development and attracting investments. He confirmed Boursa Kuwait's commitment to continue this journey, in partnership with all stakeholders, to ensure sustainable development and enhance the position of Kuwait as an advanced regional financial center. On the other hand, Director of the Trading Department at CMA Khaled Al-Sahli stated that the second part of the third phase of the Capital Market System Development Program includes the provision of financial products. 'Trading and post-trading have been activated through the applicable systems, in addition to preparing the structure of the articles, executive regulations and the stock exchange rules,' he disclosed. Al-Sahli indicated that work is underway to approve the executive regulations after the completion of the rules and regulations for settlement and litigation in the Central Depository, which will happen soon. He asserted, 'This development step contributes to boosting confidence among foreign investors and increasing foreign inflows, especially with the implementation of the CPP.' He asserted that such steps taken by the Kuwaiti market open new horizons for brokerage firms. Abdul Karim Al-Yaqout – Director of Strategy and Product Development at Kuwait Clearing Company – pointed out that the third phase is the cornerstone in the process of developing the infrastructure for post-trade operations, led by CMA and implemented by Kuwait Clearing Company, in cooperation with Boursa Kuwait and the Central Bank of Kuwait. Al-Yaqout added that Kuwait Clearing Company plays a vital role in the areas of clearing, settlement, depository, collateral management and risk mitigation; thereby, contributing to the alignment of the Kuwaiti capital market with international standards, such as IOACO and PFMI. He affirmed that there is a reconciliation period extending six months from the start of the phase, in addition to another phase for transferring client funds to brokerage firms after obtaining their approval. He said a date has been set for this phase and July 17 is the deadline for this step
Zawya
03-05-2025
- Business
- Zawya
Boursa Kuwait increases its net profit by 69.48% in the first quarter of 2025 to reach KD 7.94mln
Al-Kharafi: The strong performance in the first quarter represents a key milestone for Boursa Kuwait, fueling our commitment to accelerate market development and solidify our position as a vital engine for Kuwait's economic growth Al-Osaimi: The Kuwaiti capital market continued to enhance its attractiveness as an investment environment through the first quarter of 2025 Kuwait City: In a meeting of its Board of Directors on Thursday, May 1, 2025, Boursa Kuwait announced that it has recorded a net profit of KD 7.94 million for the first quarter of 2025, a 69.48% increase from its total for the corresponding period in 2024, when the company recorded profits of KD 4.68 million. The company's impressive improvement in net profit was largely driven by strong growth in total operating revenues. For the quarter ended March 31, 2025, total operating revenues reached KD 12.17 million—a 45.34% increase from KD 8.37 million in the same period of 2024. Operating profit also saw a significant boost, rising 69.38% from KD 5.58 million to KD 9.45 million, while earnings per share increased 69.48% from 23.33 fils in the first quarter of 2024 to 39.54 fils for the quarter ended March 31, 2025. Additionally, the Group's total assets came in at KD 139.47 million as of March 31, 2025, which is a 12.86% increase versus the KD 123.57 million total recorded in the first quarter of 2024, while shareholders' equity attributable to equity holders of the parent company increased from KD 54.06 million as of March 31, 2024, to KD 59.03 million as of March 31, 2025, an increase of 9.20%. Boursa Kuwait Chairman Mr. Bader Nasser Al-Kharafi praised the exchange's strong financial performance in the first quarter of 2025, affirming that the results reflect the robustness of its financial solvency, the efficiency of its governance, and the executive team's commitment to creating sustainable value for shareholders. Commenting on the broader market environment, he said, "Despite the prevailing global uncertainty and geopolitical tensions, Boursa Kuwait achieved notable growth across all performance indicators. Net profit increased by 69.48%, demonstrating the resilience of our strategy and the adaptability of our operating model.' 'The strong performance in the first quarter represents a key milestone for Boursa Kuwait, fueling our commitment to accelerate market development and solidify our position as a vital engine for national economic growth and a pivotal contributor to Kuwait's vision of transforming into a leading regional financial and investment hub," added Mr. Al-Kharafi. The Chairman also reiterated the company's commitment to supporting Kuwait's ambitious vision by enhancing the capital market environment to be more dynamic, transparent and efficient; able to attract foreign investments; and introducing products and tools that serve all market participants while aligning with international best practices. He stressed that this is being pursued through a clear strategic roadmap, full confidence in Boursa Kuwait's talent and systems' capabilities, and strong partnerships within the capital market ecosystem—all aimed at advancing the Kuwaiti capital market and contributing meaningfully to its sustainable growth. Mr. Al-Kharafi concluded his remarks by extending his thanks, stating, 'On behalf of the Board of Directors, I would like to express my sincerest gratitude and appreciation to our shareholders for their continued trust in Boursa Kuwait, to our executive management and dedicated employees for their unwavering commitment to excellence. I would also like to thank the Capital Markets Authority and the Ministry of Commerce and Industry for their steadfast support in promoting market stability and elevating its standards of transparency." 'Finally, I would like to thank our valued investors and traders for their trust in Kuwait's capital market. We reaffirm our ongoing commitment to providing them with the best possible investment experience, working hand-in-hand with the market ecosystem to achieve even greater success in the future," he added. The Kuwaiti capital market continued on an upward trajectory, with the value traded soaring by 89.60% from KD 3.54 billion in the first quarter of 2024 to KD 6.72 billion in the corresponding period in 2025, while its volume of shares traded rose by 69.07% from 14.36 billion to 24.29 billion in the first quarter of 2025. Meanwhile, average daily traded value increased by 106.53% from KD 58.06 million during the period ended March 31, 2024, to KD 119.91 million in the period ended March 31, 2025. Additionally, market capitalization reached KD 47.79 billion, marking a 10.85% increase from the March 31, 2024, total of KD 43.11 billion. The 'Premier' Market was a key driver of market activity, with approximately 9.28 billion shares traded in the first quarter of 2025, an increase of 20.91% over the 7.67 billion shares traded in the period ended March 31, 2024. Traded value in Boursa Kuwait's flagship market also increased by 28.93% from KD 2.56 billion to KD 3.30 billion in the first quarter of 2025, while its market capitalization rose 9.50% from KD 36.01 billion to KD 39.44 billion. Meanwhile, the 'Main' Market played a significant role in enhancing overall market liquidity, with its market capitalization rising 17.69% from KD 7.10 billion to KD 8.35 billion in the period ended March 31, 2025. Traded value in the 'Main' Market increased 247.10% from KD 0.98 billion to KD 3.42 billion in the three months ended March 31, 2025, while trading volume increased from 6.69 billion shares in the first quarter of 2024 to 14.99 billion shares in the first quarter of 2025, an increase of 123.97%. Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi commented on the market's performance, stating, 'The Kuwaiti capital market continued to enhance its attractiveness as an investment environment during the first quarter of 2025, propelled by significant increases in trading activity and liquidity. This performance signals growing confidence in Kuwait's investment landscape and reflects Boursa Kuwait's ongoing commitment to boosting market efficiency and expanding the investor pool, furthering our strategic vision for the company as a key catalyst for sustainable economic development." Mr. Al-Osaimi praised the strong performance of both the "Premier" and "Main" markets, emphasizing that these achievements demonstrate the success of Boursa Kuwait's market segmentation model in boosting liquidity, expanding the investor base and aligning the market's infrastructure with international best practices. "Market segmentation has created a more balanced, transparent, and inclusive marketplace for all stakeholders, enabling Boursa Kuwait to strengthen the efficiency of its infrastructure and better meet the needs of both issuers and investors," he noted. The CEO further explained that the traded value attributed to market makers grew by approximately 25.53% year-on-year, underscoring their effectiveness in enhancing liquidity levels and improving price discovery mechanisms within the market. "The Kuwaiti capital market also continues to consolidate its position as a preferred investment destination, with institutional investors accounting for 66% of total market participants — a key factor in reinforcing the market's strength and stability," he said. Mr. Al-Osaimi added that Boursa Kuwait remains committed to attracting international investors through promotional roadshows and institutional days in key global investment hubs, as well as through open engagement with international investment banks, sovereign wealth funds, pension funds, and leading asset management firms. "These efforts support the State's vision of positioning Kuwait as a prominent regional financial and investment hub," he affirmed. Mr. Al-Osaimi concluded his remarks by highlighting the positive outlook for Boursa Kuwait, saying, "We are committed to building on these achievements to drive sustainable growth and positively contribute to Kuwait's national economy. In closing, I would like to express my sincere gratitude to all our partners and investors for their continued trust and support. Their confidence in Boursa Kuwait and in its vital role in advancing the country's economic development inspires us to aim even higher as we move forward." About Boursa Kuwait: The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy. Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center. In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company. In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa». For further information, please contact: Ahmad Rashed Alowaish PR and Media Manager - Boursa Kuwait Email: aalowaish@
Al Bawaba
14-04-2025
- Business
- Al Bawaba
Boursa Kuwait publishes its fourth sustainability report, reaffirming its commitment to governance, transparency and sustainable growth
Boursa Kuwait published its fourth Corporate Sustainability Report, which shed light on the company's initiatives from January 1 to December 31, 2024. The report outlined the company's sustainability strategy and assessed its governance, social responsibility and environmental stewardship performance. The report marks a significant milestone in Boursa Kuwait's journey, reinforcing its commitment to Environmental, Social, and Governance (ESG) practices since its inception and reflecting its dedication to adopting internationally recognized best practices to develop an efficient, transparent, and inclusive financial market. It was prepared in alignment with the core concepts of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) guidelines for the securities and commodities exchanges sector and the United Nations Sustainable Development Goals (SDGs). The report also adheres to the principles of Boursa Kuwait's ESG Reporting Guide, which incorporates the requirements of the International Sustainability Standards Board (ISSB) to meet the evolving and dynamic expectations of all stakeholders. 'This year marked a pivotal milestone for Boursa Kuwait as we celebrated our tenth anniversary — a decade defined by excellence, innovation, and meaningful progress. Over the years, we have played a key role in advancing Kuwait's capital market while embedding sustainability at the heart of our operations and reinforcing our belief that Boursa Kuwait's role extends well beyond facilitating trading and investment. The company is deeply committed to driving economic growth and enhancing financial inclusion across the State of Kuwait,' said Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi. Al-Osaimi added that the report signifies a pivotal step in Boursa Kuwait's efforts to align its objectives with Kuwait's vision for national development and its international climate commitments. He noted that, as a key enabler of sustainable finance and a model issuer in the Kuwaiti capital market, the company plays a prominent role in empowering listed companies to incorporate sustainability into their operations and financial strategies to attract long-term investments. 'In 2024, Boursa Kuwait made significant strides in advancing ESG principles, guided by its comprehensive governance framework, which ensures the highest standards of transparency and underscores the company's commitment to ethical business practices in line with global benchmarks. The company remains committed to ethical business practices in line with the standards adopted worldwide, keeping pace with the evolving dynamics of the international financial landscape and adopting the latest best practices to contribute effectively to a more sustainable future for the Kuwaiti financial sector,' Al-Osaimi said. Throughout 2024, Boursa Kuwait continued to advance its commitment to financial literacy — a core pillar of its mission since inception and a key driver in reinforcing the company's position both regionally and globally. Anchored in the belief that well-informed stakeholders are vital to the growth, integrity, and long-term resilience of capital markets, the company remained steadfast in its efforts to equip individuals with the knowledge and skills needed to actively engage in — and benefit from — Kuwait's capital market and the broader financial ecosystem. These efforts contribute to fostering a more inclusive, empowered, and resilient financial environment. As part of these ongoing efforts, Boursa Kuwait launched the inaugural edition of the 'Bell' initiative, aimed at positioning financial literacy as a foundational tool for financial stability, economic development, and social prosperity. The initiative was implemented in collaboration with the Union of Investment Companies, Kuwait University, the CFA Society Kuwait, Kuwait Financial Centre 'Markaz,' and the Credit Information Network Company (Ci-Net). Boursa Kuwait also added several prestigious accolades to its growing list of achievements, a testament to its continued excellence in corporate sustainability, governance and ESG practices. The company received seven awards from renowned international institutions, underscoring its leadership and impact in these critical areas, including 'Best in Sustainability Transparency' award from Global Finance magazine, 'Best Sustainable Corporate Governance – Kuwait' and 'Best ESG Strategy – 2024' from The European magazine and 'Outstanding Contribution to Women's Empowerment in MENA – 2023', 'Best ESG Strategy in GCC Capital Markets – 2023' and 'Outstanding Contribution to Financial Inclusion in GCC Capital Markets – 2023' from Capital Finance International (CFI). Its 2023 Sustainability Report was also recognized as the Best Sustainability and ESG Report by the Middle East Investor Relations Association (MEIRA). The bourse was able to make strides in its ESG efforts internally as well, achieving an employee retention rate of 98% in 2024 to underscore its success in cultivating a dynamic and empowering work environment that fosters both professional growth and personal development. Boursa Kuwait also continued to actively support a range of social and environmental initiatives, working closely with local and international organizations to sponsor 38 programs designed to create meaningful, long-term impact within the community it serves throughout the year. These accomplishments underscore Boursa Kuwait's unwavering commitment to promoting transparency, embedding sound governance and advancing sustainability across the market as well as highlighting the company's pivotal role as a leading enabler of sustainable finance in Kuwait, dedicated to building a resilient, inclusive financial ecosystem that drives economic growth and supports the transition to a more sustainable future.
Zawya
13-04-2025
- Business
- Zawya
Boursa Kuwait publishes its fourth sustainability report
The report outlined the company's sustainability strategy, its non-financial performance and initiatives for 2024 Kuwait City: Boursa Kuwait published its fourth Corporate Sustainability Report, which shed light on the company's initiatives from January 1 to December 31, 2024. The report outlined the company's sustainability strategy and assessed its governance, social responsibility and environmental stewardship performance. The report marks a significant milestone in Boursa Kuwait's journey, reinforcing its commitment to Environmental, Social, and Governance (ESG) practices since its inception and reflecting its dedication to adopting internationally recognized best practices to develop an efficient, transparent, and inclusive financial market. It was prepared in alignment with the core concepts of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) guidelines for the securities and commodities exchanges sector and the United Nations Sustainable Development Goals (SDGs). The report also adheres to the principles of Boursa Kuwait's ESG Reporting Guide, which incorporates the requirements of the International Sustainability Standards Board (ISSB) to meet the evolving and dynamic expectations of all stakeholders. 'This year marked a pivotal milestone for Boursa Kuwait as we celebrated our tenth anniversary — a decade defined by excellence, innovation, and meaningful progress. Over the years, we have played a key role in advancing Kuwait's capital market while embedding sustainability at the heart of our operations and reinforcing our belief that Boursa Kuwait's role extends well beyond facilitating trading and investment. The company is deeply committed to driving economic growth and enhancing financial inclusion across the State of Kuwait,' said Boursa Kuwait's Chief Executive Officer Mr. Mohammad Saud Al-Osaimi. Al-Osaimi added that the report signifies a pivotal step in Boursa Kuwait's efforts to align its objectives with Kuwait's vision for national development and its international climate commitments. He noted that, as a key enabler of sustainable finance and a model issuer in the Kuwaiti capital market, the company plays a prominent role in empowering listed companies to incorporate sustainability into their operations and financial strategies to attract long-term investments. 'In 2024, Boursa Kuwait made significant strides in advancing ESG principles, guided by its comprehensive governance framework, which ensures the highest standards of transparency and underscores the company's commitment to ethical business practices in line with global benchmarks. The company remains committed to ethical business practices in line with the standards adopted worldwide, keeping pace with the evolving dynamics of the international financial landscape and adopting the latest best practices to contribute effectively to a more sustainable future for the Kuwaiti financial sector,' Al-Osaimi said. Throughout 2024, Boursa Kuwait continued to advance its commitment to financial literacy — a core pillar of its mission since inception and a key driver in reinforcing the company's position both regionally and globally. Anchored in the belief that well-informed stakeholders are vital to the growth, integrity, and long-term resilience of capital markets, the company remained steadfast in its efforts to equip individuals with the knowledge and skills needed to actively engage in — and benefit from — Kuwait's capital market and the broader financial ecosystem. These efforts contribute to fostering a more inclusive, empowered, and resilient financial environment. As part of these ongoing efforts, Boursa Kuwait launched the inaugural edition of the 'Bell' initiative, aimed at positioning financial literacy as a foundational tool for financial stability, economic development, and social prosperity. The initiative was implemented in collaboration with the Union of Investment Companies, Kuwait University, the CFA Society Kuwait, Kuwait Financial Centre 'Markaz,' and the Credit Information Network Company (Ci-Net). Boursa Kuwait also added several prestigious accolades to its growing list of achievements, a testament to its continued excellence in corporate sustainability, governance and ESG practices. The company received seven awards from renowned international institutions, underscoring its leadership and impact in these critical areas, including 'Best in Sustainability Transparency' award from Global Finance magazine, 'Best Sustainable Corporate Governance – Kuwait' and 'Best ESG Strategy – 2024' from The European magazine and 'Outstanding Contribution to Women's Empowerment in MENA – 2023', 'Best ESG Strategy in GCC Capital Markets – 2023' and 'Outstanding Contribution to Financial Inclusion in GCC Capital Markets – 2023' from Capital Finance International (CFI). Its 2023 Sustainability Report was also recognized as the Best Sustainability and ESG Report by the Middle East Investor Relations Association (MEIRA). The bourse was able to make strides in its ESG efforts internally as well, achieving an employee retention rate of 98% in 2024 to underscore its success in cultivating a dynamic and empowering work environment that fosters both professional growth and personal development. Boursa Kuwait also continued to actively support a range of social and environmental initiatives, working closely with local and international organizations to sponsor 38 programs designed to create meaningful, long-term impact within the community it serves throughout the year. These accomplishments underscore Boursa Kuwait's unwavering commitment to promoting transparency, embedding sound governance and advancing sustainability across the market as well as highlighting the company's pivotal role as a leading enabler of sustainable finance in Kuwait, dedicated to building a resilient, inclusive financial ecosystem that drives economic growth and supports the transition to a more sustainable future. About Boursa Kuwait: The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy. Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center. In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company. In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa». For further information, please contact: Ahmad Rashed Alowaish PR and Media Manager - Boursa Kuwait Email: aalowaish@
