Title: Press Release: The Capital Markets Authority Launches Fintech Webpage on its Official Website

Kuwait, May 15, 2024 - As part of the Capital Markets Authority’s endeavor to enhance financial inclusion and investment awareness, and to complement its efforts to spread awareness regarding the regulatory framework for financial technologies, as well as its effort to achieve one of its strategic goals of enabling the digital transformation of its work, the CMA announces the launch of the fintech (financial technology) webpage on its official website. This page consists of the following main sections:

- A brief introduction to financial technology and their objectives.

- Fintech services regulated by the CMA in Module Nineteen of the Executive Bylaws (Financial Technologies), which are: Securities-based Crowdfunding and Digital Financial Advisory.

- The Initial Implementation phase of Module Nineteen (Financial Technologies) launched in accordance with Resolution No. (181) of 2023 issued on 28/12/2023.

- Application forms for practicing financial technology services regulated by the CMA.

- A digital library containing various awareness materials.

- Direct contact information for the Fintech Unit within the CMA.

The fintech webpage is one of the initiatives undertaken by the CMA to develop the financial technology sector. Its significance lies in being a channel to enhance community awareness about financial technologies through the published awareness materials, in addition to being a channel for communication and interaction with fintech service providers and any other stakeholders. Moreover, the page serves as a source of legislative and regulatory guidance and provides updates on the latest developments in the fintech industry from a technical and regulatory perspective.

The page will be updated continuously to cover all new developments in the regulatory framework for financial technologies and their products and services.

The fintech webpage can be accessed through the main page of CMA’s website or via the following link: www.cma.gov.kw/web/cma/fintech

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Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of the CMA's Law.
Furthermore, the Law stipulates the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs pertaining to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw