Title: The Capital Markets Authority Publishes the 15th Issue of its Electronic Awareness Magazine

Kuwait, March 5, 2024 - The Capital Markets Authority’s (CMA) electronic awareness magazine published its 15^th issue on the third of March, with a focus on “Sustainability” and “Financial Technologies”. This issue coincided with the CMA’s launch of the initial implementation phase for securities-based financial technology services and the application of Module Nineteen (Financial Technologies) of the Executive Bylaws of the Establishment Law No. (7) of 2010.

The issue commenced with the “Editorial” section by Prof. Ahmad Al-Melhem – Chairman of CMA’s Board of Commissioners,  who gave a reading of the speech of His Highness the Amir Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah - may God protect him - following the constitutional oath of the new government. Prof. Al-Melhem considered it as a governmental roadmap for reform and development, and highlighted the CMA’s diligent efforts to align its initiatives with the directions of this map to enables it to perform its role in the field of securities activities.

 The “Economic Leaders” section featured excerpts from the biography of the late economist Nasser Mohammed Abdul Mohsen Al-Kharafi. The “Legal Section” addressed violations related to the misuse of the CMA’s name and logo, along with the prevention measures. The “Opinion and Vision” section provided a legal perspective on crowdfunding platforms by Dr. Abdullah Khaled Al-Abd Al-Moneim from the Kuwait Center for Islamic Economics at the Ministry of Awqaf and Islamic Affairs.

The “Issue Interview” was with Mr. Omar Saud Al-Omar, Chairman of the Board of Directors of the Communications and Information Technology Regulatory Authority, who predicted Kuwait’s advancement to the ranks of advanced countries globally in the field of communications with the completion of efforts to manage the fiber-optic network. He also called for the responsible and ethical use of artificial intelligence technologies.

Sustainability issues were addressed in the “Issue File” section through several topics, such as sustainability reporting requirements for listed companies, the reality of the CMA’s sustainable financing system and the prospects for its developments, in addition to the role of regulatory bodies in green financing and facing sustainability challenges by Dr. Nasser Salah Bouresli, a consultant at the Insurance Regulatory Unit and member of the Advisory Board in Reconnaissance Institute.

As previously mentioned, financial technologies were the main focus of the issue. It was addressed in different sections, such as the “Issue Event” section, which was entitled “The CMA Begins the Era of Financial Technologies” and the awareness sections that presented the topics: Challenges and risks related to artificial intelligence, and smart contracts, which it considered a precursor to a revolution in the world of transactions. It also provided an overview of the technologies used in providing financial services. Aadditionally, the “Prospects and Trends” section discussed financial technologies under the CMA’s umbrella, an analysis of the financial technology industry and its future trends. In another context, it discussed the CMA’s project to establish a specialized platform for listing and trading shares of small and medium-sized growth companies. Lastly, the “In Conclusion” section, in which the editor-in-chief of the magazine presented financial technologies as the most prominent tool for the Fourth Industrial Revolution.

As for the remaining sections of the issue, they presented various topics, such as the “Information Awareness” section, which presented the differences between cybersecurity and information security, and also introduced the most prominent social engineering attacks, and the role of training evacuation in business continuity strategies, and the “Free section,” which presented three topics (accounting for expected credit losses, digitalizing the CMA’s licensing and registration services, training tracks and the diversity of their nature and objectives). As for the most prominent events and activities of the CMA during the issuance period extending between the months of December and last February, they were summarized in the “Events” section.

Finally, the Capital Markets Authority, in announcing the launch of this issue, hopes that success is on its side in shedding light on the topics covered and providing the desired educational benefit. It invites interested parties to provide their suggestions on issues they believe should be highlighted in upcoming issues, and welcomes their contributions in accordance with the magazine’s publication policy, the CMA’s controls, and standards.

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