Title: The Capital Markets Authority Signs MOU with Dubai Financial Services Authority

Kuwait - June 4, 2015 - The Capital Markets Authority (CMA) has signed in Dubai today a Memorandum of Understanding (MoU) with Dubai Financial Services Authority (DFSA). The agreement intended to activate the corporation and the coordination between the two entities in developing their capital markets. The CMA was represented by Dr. Nayef Falah Al-Hajraf – Chairman of the Board of Commissioners –Managing Director, while DFSA was represented by Mr. Ian Johnston – Chief Executive at DFSA.

The signing of the agreement comes through efforts by the CMA to reinforce bilateral corporation with other counterparts. This agreement is second of its kind after the MoU with the Securities and Commodities Authority signed on December 15, 2014.
 
It is worth mentioning that DFSA is an independent entity established pursuant to Dubai Law No.(9) of 2004. It is a financial service authority responsible for regulating financial services in Dubai International Financial Centre.
 
The signing ceremony was attended by Mr. Moayed Al-Shakhs - Director of Kuwait CMA Chairman Office and Mr. Khalid AL-Ghais - Director of International Relations Office at Kuwait CMA.

Clarification to Editors
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies execution of the Corporate Governance Principles, and protect the investors from unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of merger, acquisition, and disclosure operations. The Authority also aims to provide awareness programmes related to securities activities.
 
For more information kindly contact
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org