LONDON - Chief Executive Officer of Boursa Kuwait Mohammad Saud Al-Osaimi said the Kuwaiti stock exchange will complete launching the central mediator system in early 2024 in collaboration with the Capital Markets Authority (CMA) and Kuwait Clearing Company (KCC).
"Boursa Kuwait is also set to launch index funds or exchange-traded fund (ETF) and trade bonds market which will also make available the long-awaited financial derivatives," he told KUNA on Wednesday.
Al-Osaimi made the comments on the fringes of the "10th Corporate Day" of Boursa Kuwait and the Gulf Exchanges Conference being organized by the HSBC in London on June 12-16.
The ongoing events focus on ways of opening up new opportunities for local and foreign investors, he noted.
Kuwait stock exchange is working out new rules and guidelines that will improve the pre-, and post, trading environment, including the rules of listing the new companies and the quantity of stocks available for trading, Al-Osaimi revealed.
The new initiatives are being developed in cooperation with CMA and the Kuwaiti government in keeping with the world's latest standards, he went on.
Boursa Kuwait has set up a working team assigned to visit the family businesses and commercial companies inside and outside Kuwait to convince them of getting listed, he said, voicing hope for seeing a growing number of listings in the coming months.
Since 2017, Boursa Kuwait has successfully conducted 10 Corporate Days in collaboration with leading multinational financial services firms, which allow listed companies to present their business developments and outlook to international investors. "These events aim at promoting local corporations to regional and international asset managers by elevating the standards of local investor relation (IR) functions through transparency and attracting foreign inflows into Boursa Kuwait," Al-Osaimi added.
On his part, Abdulaziz Al-Mulla, representative of Kuwait's Ministry of Finance, said his ministry is working to improve the management of the local debt in consistency with the 2030 New Kuwait vision.
He thanked Bousa Kuwait and HSBC bank for shedding light on Kuwait's plan to diversify the national economy and showcasing the business opportunities available for foreign investors.
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