CEO Khaled Abdulrazzaq AlKhaled’s keynote address explores why national stock exchange is a promising opportunity for foreign institutional investors.
Kuwait, 20 November 2018: Boursa Kuwait participated in the 22nd Annual Meeting for the KuwaitiJapanese Businessmen Committee held in Tokyo, Japan, in line with its ongoing efforts to promote Kuwait’s capital market. Boursa Kuwait’s CEO, Khaled Abdulrazzaq AlKhaled, highlighted the current and emerging investment and partnership opportunities in the country in a key address he delivered at the event.
Khaled Abdulrazzaq AlKhaled, Chief Executive Officer, Boursa Kuwait, said: “Boursa Kuwait has embarked on the next phase of its growth journey, and therefore new investments and collaborations are crucial for the company. Our participation in the 22nd Annual Meeting in Tokyo provided us with a global platform to connect with our potential clients and partners and share insights on our progress in creating a more transparent, modern marketplace among the international investment community. With the objective of delivering on our vision of positioning Boursa Kuwait as a leading regional stock exchange, we will continue to strive to develop a sound capital market, providing issuers with efficient access to capital and investors with diverse return opportunities.”
Mr. AlKhaled took the audience on a journey through Kuwait’s history of capital markets that dates back to 1950s, shining a light on key milestones, including the establishment of Kuwait Stock Exchange in 1977, the inception of the Capital Markets Authority in 2010, as well as the privatization of the country’s stock exchange and the subsequent founding of Boursa Kuwait in 2014, among others. He highlighted that Kuwait’s capital markets stood the test of time, remaining resilient even as it faced challenges arising from geopolitical and economic crises the country had undergone over the years.
Mr. AlKhaled emphasized that the significant progress Boursa Kuwait made since its inception is testament to its relentless pursuit of excellence through infrastructural upgrades, regulatory reforms, and diversification of offerings.
Shedding light on landmark achievements earlier in 2018, such as its inclusion in the FTSE Russell Emerging Markets Index and the launch of a new rulebook, Mr. AlKhaled said Boursa Kuwait has entered a new phase of growth. The rulebook helped the company to specify new three-tiered market segmentation, consisting of the Premier market, the Main market, and the Auction market, in addition to announcing a new set of Economic Indicators made available through the Boursa Kuwait website, to help individuals, businesses and organizations make more informed financial decisions.
Other landmark achievements include the official launch of Over the Counter Market (OTC), whereby investors can now trade stocks that are not listed, in a highly transparent investment environment, and the company’s very own proprietary digital education portal ‘Boursa Academy Online’, which aims at promoting financial literacy among the general public and particularly stimulate retail investors’ interest in becoming involved in the country’s capital market.
These developments, Mr. AlKhaled said, demonstrate the robustness of Boursa Kuwait and stressed that it will continue to broaden issuer as well as investor base and enhance product portfolio, building on the company’s success in a short span of time.
He added that Boursa Kuwait has plans to introduce short selling, margin trading, exchange-traded funds, and derivatives.
With its well-thought-out roadmap for the future, Boursa Kuwait is headed for a major leap over the next few years and is set to evolve as a vibrant, mature and diversified market. Moreover, the company places significant emphasis on adopting new technologies to embrace international standards in its operations. These prospects offer a promising opportunity for foreign institutional investors to thrive in a fast-growing capital market ecosystem.