Experts say listing banks’ shares stimulates, balances Boursa Kuwait

Experts say listing banks’ shares stimulates, balances Boursa Kuwait

KUWAIT: The listing of regular and Islamic banks shares in Boursa Kuwait, Kuwait’s stock exchange, is an act that stimulated and balanced the market, said a number of experts on Monday. The capital of the banking sector is worth over KD 4.5 billion ($16.2 billion). The rolling of shares in Boursa Kuwait is still at normal and fair levels, experts said in separate interviews. Banks’ shares have proven to be robust and steady in the last four years due to tight central auditing and international regulations and standards, which attracted regional and foreign investments, said Waleed Al-Houti, chairman of the board for Al-Dorra Petroleum Services Company.

He noted that the transparency in sharing news of shares and maintaining the rights of shareholders led to foreign investors and funds to seek such shares. He pointed out that foreign shares in the banking sectors reached over 20 especially after the recent decision by the Central Bank of Kuwait (CBK), which agreed to distribute banks’ half-year profits and that increased liquidity of the sector in the market.

Digital transactions was another perk that the banking sector took advantage of in favor of clients and fair competition, said Al-Houti who predicted that activities of the banking