Title: The Capital Markets Authority Publishes the 16th Issue of its Electronic Awareness Magazine

Kuwait, June 2, 2024 - The Capital Markets Authority’s (CMA) published  the16th issue of its electronic awareness magazine on the first of June. The issue commenced with the “Editorial” section by Prof. Ahmad Al-Melhem – Chairman of CMA’s Board of Commissioners, who briefed some of the CMA’s recent achievements on two pillars of its current strategy in its first year. Those two pillars were (institutional empowerment, communication and cooperation), the latest of which was signing memorandums of understanding with each of the International Financial Services Centers Authority – Republic of India, and the Islamic Development Bank Institute to coordinate possible aspects of cooperation with those entities in areas related to securities activities. Prof. Al-Melhem pointed to the fact that the achievements of these two pillars positively reflect the third pillar of the capital market development which witnessed the entry of the Market Development Program to the 24th expanded stage of examinations as part of a chain that started in 2021.

The “Economic Leaders” section featured excerpts from the biography of the late “Abdul-Aziz Saud Al-Babtain”, the author and poet, prominent figure in the economic and social worlds. The section reviewed his national contributions that will remain immortal in the memory of the generations, particularly in the economic, cultural, social, and charity areas, in addition to literature, poetry, knowledge, culture, and Arabic Language, which Al-Babtain had an efficient contribution to deliver globally. The “Legal Section” on the other hand discussed the topic of “The Capital Markets Authority: An Administrative Control Tool” by Dr. Mohammad Al-Faily – Constitutional Law Professor at the College of Law, Kuwait University.

“Local, Regional, and International Cooperation of the CMA” and its recent remarkable activity was the topic of the “Issue File” section which presented several MoUs recently signed with the CMA. This was followed by the “Opinion and Vision” section in which Ms. Huda Kribane, researcher of international economics and cyber security analyst from IBM Company, presented her vision with regards to cyber security as an economic development key.

The well-known economic expert, Mr. Fahad Abdul-Rahman Saud Al-Mukhaizeem was the guest of the “Issue Interview” section, where he presented his experience in investment and capital markets, his visions of several areas relating to securities activities starting from experiencing their developments in the latest years, further to his reading of global economic aspirations within the geopolitical developments that our world witnesses today.

Th awareness section introduced some definitions related to securities activities, and discussed two topics, the first was concerning the updates of monitoring and controlling the violations of releasing financial recommendations and investment consultations from unqualified persons after one year from the issuance of CMA’s resolution concerning regulation of the investment advisor activity, license of one-person-company to practice securities activities, and launch the financial analysts register. The second topic discussed cash policy as an economic stability tool.

The “Information Awareness” section discussed the advantages and challenges of distance work and how to maintain security in distance work. It also presented the social engineering attacks and their prevention methods in a sequential form.

The “Issue File” section presented a comprehensive study on collective investment schemes and the investment opportunities they offer, beginning with sovereign funds and ending with investment funds, by introducing their definitions, types, forms, advantages, disadvantages, and the risks expected to occur upon investment therein.

The topic of “The Capital Markets and the Artificial Intelligence” was presented in the “Prospects and Trends” section which discussed the historical development of artificial intelligence, its use in the financial services industry and the capital markets, and the mechanisms of supervising its systems. On the other hand, “IFRS for Small and Medium-sized Entities was the topic of “At the Core” section.

The “Studies” section presented a comprehensive study of the regulations of conflicts on interest and the amendments thereof. As for the most prominent events and activities of the CMA during the issuance period extending between the months of March and May, they were summarized in the “Events” section.

The opportunities and challenges that surround CMA’s direction to become an integrated sustainable Islamic financial market, particularly after CMA’s recent signing of an MoU with the Islamic Development Bank Institute aiming to prepare a road map for the Islamic Financial Industry which ended with the approval of an integrated, regulatory, and legislative framework for such industry on the securities activities field that support the CMA’s adoption of the elements of transferring into a leading Middle-Eastern entity in the field of that industry was presented by the editor-in-chief of the magazine Mr. Khaled Al-Saqer, Awareness Office Director in the issue’s final section “In conclusion” .
 

Ends-

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