Capital Markets
From The Report: Kuwait 2016
View in Online Reader

More than six years of strategic planning came to fruition in late April 2016, when Boursa Kuwait Securities Company, a private firm established in 2014, took over management of the Kuwait Stock Exchange. The move was widely understood to indicate the beginning of a new era for Kuwait’s capital market. This shift follows on from a series of major reforms initiated by the passage of the 2010 Capital Markets Law, under which the sector regulator – the Capital Markets Authority – and other state entities have worked to transform the bourse, with the long-term objective of boosting the market’s performance and overall value.

This chapter contains an interview with Nayef Al Hajraf, Chairman and Managing Director, Capital Markets Authority (CMA).

Articles from this Chapter

Overview

New lease of life: Plans for renewal are under way at the Gulf’s oldest capital market
OBG
plus

More than six years of strategic planning came to fruition in late April 2016, when Boursa Kuwait Securities Company (BKSC), a private firm established in 2014, took over management of the Kuwait Stock Exchange (KSE). The move was widely understood to indicate the beginning of a new era for Kuwait’s capital market. Road To Privatisation This shift follows on from a series of major reforms initiated by the passage of the 2010 Capital Markets Law (CML), under which the sector regulator – the…

Interview

Market evolution: OBG talks to Nayef Al Hajraf, Chairman and Managing Director, Capital Markets Authority (CMA)
OBG
plus

Interview: Nayef Al Hajraf To what extent have external forces impacted the Kuwaiti private equity markets? NAYEF AL HAJRAF: The global financial crisis of 2008 and the recent sharp decline in hydrocarbon revenues have greatly impacted Kuwait. Our world is now truly globalised – there are no isolated markets able to weather downturns. We live in an interconnected age, and this trend will only continue. In light of this, a public debt issue is now being considered, which could create new opportunities. Will…

Analysis

Reviving the bourse: Recent regulatory reforms seek to enhance liquidity and trading activity
OBG
plus

In early November 2015 the regulator of Kuwait’s capital market, the Capital Markets Authority (CMA), issued a comprehensive set of executive bylaws to the regulatory framework. The revision, officially known as CMA Resolution No. 72 of 2015, comprises 1665 articles governing activity across 16 broad areas, including disclosures, transparency, listings, corporate governance, mergers and acquisitions, and clearing agencies, among others. Drawn up in response to widespread confusion over the application…