Kuwait City: Boursa Kuwait continued its strategic partnership with the United Nations High Commission for Refugees (UNHCR), pledging its support for the fourth consecutive year on World Refugee Day 2024. The exchange’s backing of this initiative aligns with its efforts to support humanitarian causes and make a difference and positive impact in the community.

Designated by the United Nations internationally as a day to honor refugees around the globe, World Refugee Day, which falls annually on June 20, celebrates the strength and courage of people who have been forced to flee their home country to escape conflict or persecution. It is an occasion to build empathy and understanding for the plight of refugees and recognize their resilience in rebuilding their lives. This year’s theme is “For a world where refugees are welcome” and aims to highlight the importance of societal solidarity with refugees and the internally displaced.

 “Boursa Kuwait is proud of its strategic partnership with the United Nations High Commission for Refugees. Over the past four years, the bourse has supported the UN Refugee Agency’s programs and initiatives to alleviate the suffering of refugees and internally displaced people, contributing to providing shelter and food for over 1600 families in the Middle East,” said Boursa Kuwait’s Senior Director of Marketing and Corporate Communications, Mr. Naser Meshari Al Sanousi.

Over the past four years, the exchange has supported the Agency’s emergency efforts in Sudan, Syria and Lebanon and has donated to the UNHCR’s annual Winterization Assistance Program. This year, Boursa Kuwait is contributing to humanitarian aid efforts in the region.

Boursa Kuwait’s partnership with the UNHCR is the embodiment of the company’s sincere desire to raise awareness to the importance of helping those who are in need and have been deprived of their right to live with dignity. This initiative will contribute to greater awareness of the importance of helping the victims of wars, conflicts and persecution build better futures for themselves.

Al-Sanousi added: “On World Refugee Day, which aims to shed light on the plight of over 117 million refugees, I implore fellow listed companies and our partners in the private sector to join our support of the UNHCR and help end the suffering of refugees and the internally displaced worldwide.”

The initiative forms part of Boursa Kuwait’s efforts to create a lasting meaningful impact on the community as part of its Corporate Sustainability strategy and is in line with Goal 1 – No Poverty, Goal 2 – Zero Hunger, Goal 3 – Good Health and Well-Being, Goal 4 – Quality Education, Goal 6 – Clean Water and Sanitation, Goal 10 – Reduced Inequalities and Goal 17 – Partnership for the Goals - of the UN’s Sustainable Development Goals (SDGs). It is also aligned with the central, transformative promise of the 2030 Agenda for Sustainable Development to leave no one behind (LNOB).

The UNHCR is a global organization dedicated to saving lives, protecting rights and building a better future for people forced to flee their homes because of conflict and persecution, leading international action to protect and provide assistance for refugees and forcibly displaced communities.

UNHCR Representative in Kuwait Ms. Nisreen Rubaian welcomed Boursa Kuwait’s support of the agency and its mandate, saying, “I am proud of our strategic partnership with Boursa Kuwait, who have been with the agency for four years now as a sustainable partner. The exchange has been steadfast in contributing to our various initiatives to help refugees and the internally displaced in many regions across the globe. This support could not come at a better time, as the number of people forced to flee their homes has reached over 117 million, whether due to old, unresolved conflicts or conflicts that are still ongoing.”

Rubaian added, “Each year on June 20th, the world commemorates World Refugee Day - in honor of those forced to flee their homelands. This year, we have dedicated the theme of "Kuwait: Humanity and Development" to Kuwait in recognition of its leading humanitarian role over the years. Kuwait has launched initiatives to empower refugees to become self-reliant and constructive members of their host communities. This theme aligns with the overall theme of World Refugee Day, which preaches solidarity with refugees and for society to work together to build a world where refugees are welcome.”

Boursa Kuwait’s Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company’s corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, in order to achieve longevity and an ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange.

As part of the strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women as well as environmental protection.


About Boursa Kuwait:

The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy.

Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center.

In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company.

In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa».

For further information, please contact:
Ahmad Rashed Al-Owaish
PR and Media Manager - Boursa Kuwait
Email: aalowaish@boursakuwait.com.kw