KUNA : Capital Markets Authority…stone on path of turning Kuwait into regional hub – General – 12/07/2023 – Kuwait News Agency

KUNA : Capital Markets Authority…stone on path of turning Kuwait into regional hub – General – 12/07/2023 – Kuwait News Agency

Report by KUNA as part of FANA's economic affairs 

By Mohammad Kamal

KUWAIT, July 12 (KUNA) -- Kuwait has been taking steady steps to attain its strategic objective of turning into a regional financial and commercial hub.

The Gulf state has set up supervisory and regulatory authorities to back up a domestic market capable of attracting investments locally and from abroad.



Capital Markets Authority's establishment (2010) was on the basis that the financial sector was one of the key fundamentals of the national economy, that it would play a vital role in investing funds, enriching savings, offering credit tools, diversifying income resources and creating jobs for nationals.



The CMA, since its establishment according to Law 7/2020, adopted by the National Assembly in February 2020, has taken charge of organizing and overseeing securities, ensuring transparency, justice and competence, obliging companies listed in Boursa Kuwait to adhere to governance and protecting traders from unjust and irregular practices.



CMA's five-member board of commissioners is largely credited for promoting Kuwait to the emerging market status, as declared by the FTSE Russel index in September 2017, S&O in December 2018 and MSCI in June 2019.



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