CmaBoardReleases
Title: The CMA Participates in HSBC MENAT Virtual Securities Conference 2021, and Emphasizes its Endeavor to Create a Financial Sustainable Environment Supportive of Economic Growth
Kuwait, March 3, 2021 - The Capital Markets Authority (CMA) participated in HSBC MENAT Virtual Securities Conference 2021, which was held over four days from 1 to 4 March 2021 and was organized by HSBC. This conference is a meeting point for the most prominent internationals institutions that look forward to developing the financial markets and the investment in the region. Many representatives of international and regional bodies have participated in this conference to view the latest developments, updates and investment opportunities in the region’s financial markets.
The CMA participated in the discussion session held on the second day of the conference March 2, 2021 under the topic of “The Regulatory Role in Promoting Sustainable Growth in the Region”. The CMA was represented by Mr. Abdulrahman Al Failakawi – Director of Markets Regulation Department – along with senior officials of the authorities of some of the GCC countries. Al Failakawi mentioned the CMA’s direction towards the adopting the recommendations of IOSCO regarding the sustainable finance. He indicated that the CMA formed a team to develop recommendations related to the regulatory framework of the sustainable finance or investment in accordance with the factors that consider the environmental, social and the governance aspects, known as (ESG), due to the noticeable increase in the importance of these factors to the investors.
Al Failakawi also explained that the Market Development project will focus in the coming phases on enhancing the infrastructure in a way that supports offering and providing products and services to be in line with the standards of developed markets. He also indicated that a regulatory framework will be set to keep pace with the digital transformation of the financial sector, and to enable modern technical applications, especially in the field of financial technology (Fintech).
The CMA will hold intensive virtual meetings on the sidelines of this conference, extending until Thursday March 4, 2021 with international investment banks and foreign investors. During these meetings, the latest developments of the Kuwaiti market and the future plans of developing the market will be discussed, in addition to listening to the comments of the investment banks and the investors and answering their enquiries.
In conclusion, this participation falls within the framework of completing the CMA’s efforts of raising the market’s efficiency and developing it in accordance with the international best practice, and diversifying the investor base by attracting the foreign and institutional investment.
Ends-
Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw