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28 The Investor

The evolution of

Kuwait’s Boursa

Emerging market status on the horizon

By Jamie Etheridge February 2010, with the establishment of
the Capital Markets Authority (CMA), Kuwait
uwait is leveraging political stability, laid the regulatory groundwork necessary
high liquidity, improved regulation for stabilizing the Kuwaiti Capital Market,
Kand currency stability as it pushes licensing brokers, portfolio managers,
toward emerging market status. As the clearing agents and ensuring listed
oldest stock market in the region and the companies adhere to required regulations
second largest after Saudi Arabia, Kuwait’s and public filings.
bourse is in a strong position to serve as
a destination hub for local, regional and The CMA is now implementing a multi-stage
foreign investment. strategy aimed at positioning Kuwait as an
emerging market with a target date of fourth
But to achieve this, it must first reform and quarter 2017/first quarter 2018. Among
develop its Capital Market. Over the course the changes that took place are important
of the last few years, Kuwait has taken transactional ones including the shift from
several important steps in this direction. In settlements at T+0 for local investors and

Issue 1 October 2017