Title: The Capital Markets Authority Publishes the 18th Issue of its Electronic Awareness Magazine

Kuwait, December 2, 2024 - The Capital Markets Authority (CMA) published the 18th issue of its electronic awareness magazine on December 2nd, marking the last issue of the magazine for the current year.

The issue delved into various aspects of securities activities. It commenced with the “Editorial” section by Prof. Ahmad Al-Melhem – Chairman of the CMA Board of Commissioners who highlighted the most prominent achievements of the CMA during the current year, including the fintech regulatory framework, and launching the first batch of its services, in addition to other initiatives such as Market Development project (MD) and those relating to promoting practices compatible with sustainable development and finance, preparing a roadmap for the Islamic financial industry, establishing the Capital Markets Academy.

The “Economic Leaders” section honored the late Sheikh Salem Al-Ali, recognizing his significant contributions to Kuwait’s security, stability, and development. In addition, he had several cultural and knowledge contributions that was culminated in the launch of “Sheikh Salem Al-Ali Informatics Award” as well as his humanitarian contributions represented by donations and charity work aiming to support the humanitarian situation inside and outside the State of Kuwait.

The “Legal Section” provided a comprehensive analysis of Article (109) of the CMA Establishment Law in light of Law No. 9 of 2020. It presented the topic of electronic notification  and its features. Furthermore, it presented a comparative analysis of the aforementioned Article and its corresponding provision in the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets authority and Regulating Securities Activities, in addition to discussing the key points of Law No. 9 of 2020 (Amending some provisions of Kuwait Decree-Law No. 38 of 1980 on the issuance of the Civil and Commercial Procedure Law “Electronic Announcement” that influenced Article 109 of the CMA Establishment Law before concluding with the impact of electronic notification on the legal procedures.

The " Issue Event " section covered the establishment of the Capital Markets Academy and the initiation of the first qualification program, and the launch of the first fintech service regulated by the CMA through the registration of two companies (The Securities House Company, and Watani Investment Company) as the first companies registered in the concerned register of such services at the CMA.

In the “Opinion and Vision” section, lawyer and commercial arbitrator Abdul-Aziz Al-Subaie discussed the importance of reconsidering the definition of fraud and scam and their impact on society and national economy as a result of the increasing prevalence of these crimes and the exploitation of legislative gaps within the development of the technical means and economic openness.

The economic expert “Fahad Mutlaq Nassar Al-Shuriaan” was the guest of the current issue of the magazine, where he presented his vision regarding our local reality from several fields, politically and socially, and focused on the economic field considering it the “jewel of the crown” for the other society fields -according to Al-Shuriaan-. He also discussed financial derivatives, investment products, financial fraud, and other topics related to securities activities and their development during the latest three decades coinciding with his work at several relevant fields, in addition to other social issues such as privatization, small and medium-sized projects, and others.

The awareness section - as usual - after introducing some definitions related to securities activities, covered several topics: it discussed the sustainable finance future in green and colored bonds, in addition to another topic regarding the latest opportunities and challenges that face the use of artificial intelligence in the awareness field of the CMA work.

The “Information Awareness” section presented the topic of “Today’s mechanisms of data protection in our digital world”, in particular the classification of such data and its protection, and the resulting benefits.

The “Issue File” section was allocated for CMA’s awareness participations during the issue period, such as participation in the World Investment Week in its eighth edition and participation in Gulf Smart Investment competition in its third edition.

CMA’s efforts in enhancing financial inclusion and supporting the conversion to sustainable economy were most prominent pillars of the radio interview with each of the Strategies Office Director and the Development of Islamic Financial Industry Team Leader at the CMA were the topic of “Prospects and Trends” section, followed by “At the Core” section that discussed the multiple alternatives of the accounting policies and its change mechanisms.
The “Studies” section presented a study on the precise balance between hedge and flexibility that the CMA endeavored to consider when setting the regulatory framework of financial technologies (fintech) services related to securities activities. As for the most prominent events and activities of the CMA during the issuance period extending between September and November, they were summarized in the “Events” section.

In the issue’s final section “In conclusion” the editor-in-chief of the magazine Mr. Khaled Al-Saqer, Awareness Office Director at the CMA, presented the connection between the initiatives of the CMA’s current strategy and the directions of development plan of the State (New Kuwait 2035), starting with those included in the framework of the programs of that plan, such as CMA’s two projects of developing the capital markets system and establishing a knowledge entity specialized in the capital markets sector, and ending with indirect contributions, such as the direction to transform into knowledge economy through the Capital Markets Academy, enhancing financial inclusion, digital transformation, and the regulatory framework of financial technologies (fintech) related to securities activities.

Finally, it is worth noting that CMA’s electronic awareness magazine is a quarterly awareness publication concerned with the awareness of financial, investment, and legal issues related to securities activities, in addition to covering the CMA’s news and events during the issuance period.

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: 1888898
Email: pr-media@cma.gov.kw