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38 The Investor

Overview
During the last two decades, the investment Mission
companies have been an immense impetus Adapting the appropriate atmosphere for
within the local and regional economy. They developing the efficiency of the investment
have provided financing and investment sector and financial services in consistency
services, asset management, in addition to the with developments in the international
financial investment services, such as mergers markets, including legislation and autonomous
& acquisitions and more. Furthermore, regulations to serve national economy.
they have rapidly extended their business
operations in the regional and international
markets, including the provision of financial Objectives of Union of Investment
services in accordance with the provisions of Companies (UIC)
the Islamic regulations.
• Activating the involvement and
According to the statistics provided by the participation with all formal and informal
Central Bank of Kuwait in February 2016, the establishments in the country as well as
number of investment and financial services working with them to develop a clear
companies reached 79 companies, including strategy to transform Kuwait into an
28 listed companies in the Kuwait Stock advanced financial center to create a
Exchange, where they altogether manage competitive atmosphere for all investment
assets of around 9.8 billion Kuwaiti Dinars. companies.

The investment sector is considered the second • Providing and suggesting draft proposals
largest sector in the Kuwait Stock Exchange to update and reform legislation on the
after the banking sector in terms of the size of financial sector (the Capital Markets
its capital, as it is the third largest sector after Authority law, corporate law, and the
oil and manufacturing industries as well as foreign investor law, etc.)
banks in terms of contribution to GDP.
• Working to complete the institutional
Given the importance of this sector emerged structure of a mature financial market,
the idea of establishing the Union of which operates to protect the investments
Investment Companies (UIC) in January and improve the investment environment
2005, which currently holds 38 investment and stability of transactions, raising
and financial services companies within its confidence in the economy.
membership.

Issue 1 October 2017