Capital Markets
From The Report: Kuwait 2025
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With the first half of 2025 witnessing annualised traded values and volumes almost doubling, and its market capitalisation surging by nearly a quarter, this has been a banner year for Boursa Kuwait. In the first six months of the year, double-digit gains in Boursa Kuwait’s Main Market and Premier Market allowed the country to outperform all of the GCC’s exchanges, apart from Dubai Financial Market. By the end of the third quarter, Boursa Kuwait had outperformed Dubai’s exchange to lead the GCC in year-to-date results.

Kuwait has entered a period of structural reform in its economy, tackling bottlenecks hampering investment. Boursa Kuwait will benefit, with projects requiring financing and unfreezing of the sovereign debt market. The Market Development Programme increases the global competitiveness of the capital market. Using international best practices in regulation and organisation, the programme should see securities, bonds, sukuk and ETF infrastructure improve.

This chapter contains interviews with Mohammad Saud Al Osaimi, CEO, Boursa Kuwait; Faisal Mansour Sarkhou, CEO, Kamco Invest; and Ali Khalil, CEO, Kuwait Financial Centre (Markaz).

Articles from this Chapter

Overview

Establishing success: The sector stands on the threshold of a new era going into 2026 with a well-regulated and efficient infrastructure
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With the first half of 2025 witnessing annualised traded values and volumes almost doubling, and its market capitalisation surging by nearly a quarter, this has been a banner year for the country’s stock market, Boursa Kuwait. Indeed, in the first six months of the year, double-digit gains in both Boursa Kuwait’s Main Market and Premier Market allowed the country to outperform all of the GCC’s exchanges, apart from Dubai Financial Market. By the end of the third quarter, however, Boursa Kuwait had outperformed Dubai’s exchange, to lead the GCC in year-to-date results. Helping establish this success has been the rollout of a far-reaching…

Analysis

Diversifying revenue: Increased sophistication backed by solid financials will position Kuwait with a high-performing capital markets
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From 2017 until mid-2024, Kuwait’s government was unable to issue any sovereign debt in the form of sukuk (Islamic bonds) or bonds due to a continuing political roadblock. This had prevented the enactment of a public debt law authorising such issuances. The country was in the unusual position of having extensive fiscal reserves – for example, its sovereign wealth fund, the estimated $1trn Kuwait Investment Authority (KIA) is one of the world’s largest – while being unable to leverage them to finance government development projects or day-to-day expenditure. In May 2024, however, the obstacle was overcome with the four-year suspension of…

Interview

Investment growth: Mohammad Saud Al Osaimi, CEO, Boursa Kuwait, on boosting Kuwait’s global reach and investor confidence
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Interview: Mohammad Saud Al Osaimi, CEO, Boursa Kuwait, on boosting Kuwait’s global reach and investor confidence Which new structural adjustments or market changes are being introduced to further develop Kuwait’s capital markets? MOHAMMAD SAUD AL OSAIMI: Kuwait has implemented a wide-ranging set of structural reforms, improving efficiency and strengthening its appeal to both institutional and retail investors. Central to this effort is the Market Development Programme (MD), particularly its…

Analysis

Streamlined transactions: Digital payment platforms see growth in emerging markets due to higher consumer demand and increased remittances
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Despite the ongoing macroeconomic and geopolitical headwinds experienced by the global economy, one area of the international financial system that has shown steady progression is digital payments. Since the Covid-19 pandemic, they have been spurred by a jump in remittance flows, and the greater availability of digital infrastructure and services, as well as higher demand for fast and seamless non-physical transactions. The trend is even more notable across low- and middle-income countries. While non-cash retail payments climbed by 13% globally between 2018-21, they rose by 25% across emerging markets during that time. Decentralised Payments While…

Interview

Maintaining momentum: Faisal Mansour Sarkhou, CEO, Kamco Invest, on fostering resilient long-term investor confidence
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Interview: Faisal Mansour Sarkhou, CEO, Kamco Invest, on fostering resilient long-term investor confidence How would you characterise the current economic landscape in the GCC amid ongoing fiscal reforms and diversification efforts? FAISAL MANSOUR SARKHOU: The region is undergoing a period of structural transformation. We are no longer discussing diversification as a long-term aspiration; we are seeing it implemented with measurable outcomes. Governments have channelled budget surpluses into infrastructure,…

Interview

Capital shifts: Ali Khalil, CEO, Kuwait Financial Centre (Markaz), on market innovation, technological opportunities and strategic challenges
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Interview: Ali Khalil, CEO, Kuwait Financial Centre (Markaz), on market innovation, technological opportunities and strategic challenges How do you see the financial services sector evolving in response to efforts to diversify the economy? ALI KHALIL: The financial services sector acts as a key enabler, allocating capital to the areas of the economy most likely to grow and deliver returns. Given the scale of development required, the government’s budget allocations – around KD2bn ($6.5bn) in…