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Kuwait Times
12-07-2025
- Business
- 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
14-05-2025
- Business
- Kuwait Times
Boursa Kuwait, KCC promote Kuwaiti capital market to London's leading asset managers
Roadshow held in collaboration with Jefferies Financial Group in London from May 12-13 KUWAIT: As part of their ongoing efforts to support the development of the Kuwaiti capital market and elevate its position within the international investment community, Boursa Kuwait and Kuwait Clearing Company (KCC) organized a roadshow in London from May 12 to 13, 2025 in collaboration with Jefferies Financial Group, a world-renowned global investment banking and capital markets institution. The roadshow provided Boursa Kuwait and KCC with a unique opportunity to conduct focused one-on-one meetings with ten leading global investment management firms and advisory institutions. The delegation was led by Mohammad Saud Al-Osaimi, Chief Executive Officer of Boursa Kuwait, and Duaij R Al-Saleh, Chief Executive Officer of Kuwait Clearing Company, who were joined by senior executives, including Boursa Kuwait Head of Markets Sector Noura Al-Abdulkareem and Abdulkarim A Al-Yaqout, the Director of Strategy and Product Development at KCC. During the roadshow, representatives highlighted recent developments in the Kuwaiti capital market, promoting its growing range of investment opportunities and presenting updates on key infrastructure and service enhancements, to global investors from several world-renowned financial institutions, including progress on the forthcoming Central Counterparty (CCP) framework, which is set to launch alongside exchange-traded funds (ETFs) as well as a platform for fixed-income instruments including bonds and sukuk. The roadshow also served as a valuable forum for direct engagement with some of the world's leading financial institutions, enabling the delegation to exchange views, gather investor feedback on their experience in Kuwait and gain a deeper understanding of their expectations and requirements. 'Boursa Kuwait remains focused on strengthening its ties with the global investment community, showcasing the progress of the Kuwaiti capital market and its growing range of opportunities to global capital. Over the past few years, the company has worked to build an integrated investment ecosystem with a solid market infrastructure, introduce investor-centric services and financial products tailored to international standards, while streamlining foreign investor onboarding to ensure a seamless and secure experience. This roadshow serves as a vital platform to promote the Kuwaiti capital market and foster deeper engagement with leading financial institutions, in line with Boursa Kuwait's efforts to position Kuwait as a prominent investment destination in the region,' said Mohammad Saud Al-Osaimi, the Chief Executive Officer of Boursa Kuwait. In collaboration with its partners in the Kuwaiti capital market apparatus, Boursa Kuwait is working on the launch of the Central Counterparty (CCP) framework, a foundational step in strengthening market infrastructure. Designed to enhance the efficiency, transparency and security of post-trade processes, the CCP serves as the counterparty to all transactions, ensuring safe and orderly settlements between buyers and sellers and will play a vital role in mitigating counterparty risk and aligning Kuwait's market operations with global standards in clearing and settlement. Kuwait Clearing Company CEO Duaij R Al-Saleh Commenting on the roadshow, KCC CEO Duaij R Al-Saleh said, 'Our participation in this roadshow alongside Boursa Kuwait reflects our shared commitment to advancing the Kuwaiti capital market, elevating its stature in the region and the world and strengthening engagement with international investors. It provided a valuable platform to engage with world-renowned financial institutions to highlight our clearing and settlement infrastructure and share updates on strategic initiatives, such as the CCP framework, which will enhance post-trade efficiency, reduce counterparty riskand serve as the foundation for more advanced financial instruments and services.' As part of its ongoing efforts to strengthen market infrastructure and enhance the appeal of the capital market to foreign investors, the Kuwaiti capital market apparatus has introduced a series of enhancements and regulatory reforms to its clearing and settlement systems over the past few years, aligning them with the standards and expectations of leading global financial institutions. These enhancements include the acceleration of trading account openings for foreign clients, which are now completed within a single business day. Similarly, the process for transferring accounts between custodians has been redesigned to match this timeframe, improving operational efficiency and execution speed, while the introduction of partial settlement rejection has given foreign investors greater flexibility in managing their investment obligations. In addition, the omnibus account mechanism was introduced to further streamline order execution and reduce transaction volume, allowing institutional and foreign investors to execute trades through a single consolidated account, with shares allocated to individual beneficiaries immediately after settlement. Furthermore, a fully automated and upgraded version of the electronic general assembly meeting (eAGM) system has been launched. This system, which is mandatory for all listed companies, enables investors to participate and vote through multiple convenient digital channels. Other key developments include an enhanced mechanism for foreign investor participation in initial public offerings (IPOs), aimed at boosting cross-border investment, as well as the introduction of a Securities Lending and Borrowing (SLB) framework which broadens the range of financial instruments available in the market and offers investors increased flexibility and strategic options. Boursa Kuwait and the KCC play a pivotal role in the development of the Kuwaiti capital market and the diversification of the national economy and have remained steadfast in their dedication to establishing a transparent, efficient and advanced exchange platform, which has led to the creation of a liquid capital market. Boursa Kuwait and the KCC's unwavering commitment to promoting the Kuwaiti capital market and its participants through a series of roadshows and corporate days has also helped provide prospective institutional investors worldwide with profound insights into the market's opportunities. Since Boursa Kuwait took over operations of the Kuwaiti stock exchange, the Kuwaiti capital market has undergone an unprecedented development, thanks to the diligent efforts of the capital market apparatus. Their focus on empowering participants and raising standards has resulted in several key initiatives, including the diversification of products and services, establishing an appealing investment platform, expanding the issuer base, and adapting rules and regulations to meet market demands. The apparatus has also significantly enhanced the market's infrastructure and fostered an attractive investment environment, which resulted in the Kuwaiti capital market's reclassification to an Emerging Market by three prominent global index providers, and solidified Kuwait's position as a leading financial center in the region.
Zawya
26-03-2025
- Business
- Zawya
Boursa Kuwait appoints Bader Nasser Al-Kharafi as Chairman
Arab Finance: Boursa Kuwait has named Bader Nasser Al-Kharafi as the Chairman of the Board for three years from 2025 to 2027, according to an emailed press release. The board members also approved the appointment of Bader Abdullah Al-Kandari as Vice Chairman for the same period. Al-Kharafi has more than 20 years of experience in the financial, banking, industrial, and telecommunications sectors. He has been a member of Boursa Kuwait's Board of Directors since its privatization in 2019, during which he chaired the Executive Committee and held a seat on the Nominations and Remuneration Committee. In his role, Al-Kharafi will lead Boursa Kuwait's ambitious vision and growth strategy, focusing on improving the Kuwaiti capital market's efficiency and strengthening its investment appeal. Commenting on his appointment as the Chairman, Al-Kharafi said: 'This phase demands a renewed commitment to advance the capital market and strengthen its position on both the regional and global stages.' 'My goal is to accelerate the development of innovative products, services, and financial instruments that enhance market performance and provide added value to all stakeholders,' he added. The new official also rolled out plans to launch exchange-traded funds (ETFs) and a fixed-income trading platform, which will include bonds and sukuk, in the second quarter (Q2) of 2025. The plans also include applying the Central Counterparty (CCP) system and the introduction of financial derivatives in the future. He stated: 'These initiatives will undoubtedly enhance the market and create new investment opportunities for a wider range of investors.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Trade Arabia
24-03-2025
- Business
- Trade Arabia
Bader Nasser Al-Kharafi named Boursa Kuwait Chairman
Boursa Kuwait has announced that its board of directors have unanimously approved the formation of the new board, appointing Bader Nasser Al-Kharafi as Chairman of the Board for a three-year term spanning 2025 to 2027. Bader Abdullah Al-Kandari was named Vice Chairman for the same period. The board extended its appreciation to outgoing Chairman Hamad Mishari Al-Humaidhi, the first Chairman to lead Boursa Kuwait following the completion of the first phase of its privatisation, praising his outstanding leadership and pivotal role in transforming Boursa Kuwait into a cornerstone of the national economy and a success story within the country's financial landscape. His tenure was marked by several milestone achievements, most notably the company's highly successful initial public offering, which was oversubscribed by more than 850%, followed by its listing in the 'Premier' Market. Regarded as one of Kuwait's prominent business leaders, Al-Kharafi brings over 20 years of experience across the financial, banking, industrial, and telecommunications sectors. He has been a member of Boursa Kuwait's Board of Directors since its privatisation in 2019, during which he chaired the Executive Committee and held a seat on the Nominations and Remuneration Committee — roles that enabled him to play a central role in shaping the company's strategic direction and reinforcing its governance framework. Al-Kharafi confirmed Boursa Kuwait's commitment to fostering a competitive investment environment, emphasising the company's determination to introduce new financial products and instruments as well as enhance governance and transparency to align with global best practices. 'We are preparing for the launch of exchange-traded funds (ETFs) and a fixed-income trading platform, which will include bonds and sukuk, in the second quarter of the year. We are also planning to implement the Central Counterparty (CCP) system and lay the groundwork for the introduction of financial derivatives in the future. These initiatives will undoubtedly enhance the market and create new investment opportunities for a wider range of investors,' he stated. In addition to his new role at Boursa Kuwait, Al-Kharafi is the Vice Chairman and Chief Executive Officer of the Mobile Telecommunications Company (Zain Group). He is also a board member at several prominent regional and international financial and industrial institutions, including Vice Chairman of National Investments Company (NIC), Vice Chairman of Gulf Cable & Electrical Industries and Vice Chairman of Diamond International Motors Company. Additionally, he is a member of the Board of Directors of Foulath Holding in Bahrain, the Middle East Advisory of UK-based Coutts & Co., the Kuwait-British Friendship Society and the United Nations High Commission for Refugees (UNHCR)'s Sustainability Board for the Middle East and North Africa. -
