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Kuwait, 16th November 2014 – The Chairman of the Capital Markets Authority Dr. Nayef Falah Al-Hajraf, accompanied by Mr. Mishaal Al-Usaimi – the Vice Chairman, along with the members of the CMA Board of Commissioners have paid a visit to Kuwait Stock Exchange entity where they met Mr. Faleh Abdullah Al-Raqaba - Director General of Kuwait Stock Exchange and his deputies. The purpose of this first visit of the Chairman and members of CMA Board of Commissioners is to emphasize on the importance of Kuwait Stock Exchange entity, and to look into the current development projects in the Exchange. Dr. Al-Hajraf and the members of the Board of Commissioners met all employees working at the Stock Exchange entity, with the attendance of the Director General of the Exchange and Mr. Khalid Abdul Razzaq Al-Khalid – Chairman of the Exchange Company's Board. He explained that this meeting was postponed until after the end of the settlement and adjustment of the employees' situations. Now, all are employees of the CMA whether the ones who work in the main headquarters or the ones managing Kuwait Stock Exchange entity. He commended the valuable and accumulated experiences of the Exchange's employees being a reference that must be employed and benefited from, especially that we are ahead of a phase which is considered of utmost importance to KSE, which aims at developing the Exchange and enhancing transparency, integrity, and sound transactions in accordance with the international best practices. Dr. Al-Hajraf stressed on the importance of working and cooperating for the success of the Exchange's privatization due to the national and economical dimensions of this project that can only be reached through collaborative efforts between the Exchange management, the Exchange Company management, and the Exchange committee. Work shall be conducted based on professional standards. The CMA Chairman also explained that they are working towards elevating the standards of the capital markets in Kuwait, and providing an investment environment that gains the investors' trust under a supervisory system which supports competiveness, fairness, and transparency to achieve the CMA goals. These goals are connected to regulating the securities' activities, ensuring the compliance with the rules and regulations related to such activities, protecting investors, reducing the risks by implementing the disclosure policy which prevents the conflict of interests and information exploitation, and would be of benefit for the national economy.
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, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org
CMA LAW: Capital Markets Authority Meets its Employees who Work at Kuwait Stock Exchange Entity
Date Publish
16 November 2014
Kuwait, 16th November 2014 – The Chairman of the Capital Markets Authority Dr. Nayef Falah Al-Hajraf, accompanied by Mr. Mishaal Al-Usaimi – the Vice Chairman, along with the members of the CMA Board of Commissioners have paid a visit to Kuwait Stock Exchange entity where they met Mr. Faleh Abdullah Al-Raqaba - Director General of Kuwait Stock Exchange and his deputies. The purpose of this first visit of the Chairman and members of CMA Board of Commissioners is to emphasize on the importance of Kuwait Stock Exchange entity, and to look into the current development projects in the Exchange. Dr. Al-Hajraf and the members of the Board of Commissioners met all employees working at the Stock Exchange entity, with the attendance of the Director General of the Exchange and Mr. Khalid Abdul Razzaq Al-Khalid – Chairman of the Exchange Company's Board. He explained that this meeting was postponed until after the end of the settlement and adjustment of the employees' situations. Now, all are employees of the CMA whether the ones who work in the main headquarters or the ones managing Kuwait Stock Exchange entity. He commended the valuable and accumulated experiences of the Exchange's employees being a reference that must be employed and benefited from, especially that we are ahead of a phase which is considered of utmost importance to KSE, which aims at developing the Exchange and enhancing transparency, integrity, and sound transactions in accordance with the international best practices. Dr. Al-Hajraf stressed on the importance of working and cooperating for the success of the Exchange's privatization due to the national and economical dimensions of this project that can only be reached through collaborative efforts between the Exchange management, the Exchange Company management, and the Exchange committee. Work shall be conducted based on professional standards. The CMA Chairman also explained that they are working towards elevating the standards of the capital markets in Kuwait, and providing an investment environment that gains the investors' trust under a supervisory system which supports competiveness, fairness, and transparency to achieve the CMA goals. These goals are connected to regulating the securities' activities, ensuring the compliance with the rules and regulations related to such activities, protecting investors, reducing the risks by implementing the disclosure policy which prevents the conflict of interests and information exploitation, and would be of benefit for the national economy.
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, oblige the listed companies to execute the Corporate Governance Principles, and protect the investors from the unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of the merger, acquisition, and disclosure operations. The Authority also aims at providing awareness programmes related to securities activities.
For more information kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22410169
Email: pr-media@kuwaitcma.org
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