Title: Resolution No. (101) of 2025 Regarding Entry into Force of the Second Batch of the Third Phase of the Market Development Project

Having Perused:
- Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, its Executive Bylaws, and amendments thereto, and
- Resolution No. (60) of 2016 Regarding Amending the Executive Bylaws of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments by Adding the Activity of a Qualified Securities Broker Registered with an Exchange issued on 27/06/2016, and

-Resolution No. (92) of 2025 Regarding the Development of the Infrastructure of the Post-Trade Model; and

- CMA Board of Commissioners Resolution passed in its meeting No. (09) of 2025 held on 26/03/2025 regarding approving the documents of Kuwait Clearing Company; and

- CMA Board of Commissioners Resolution passed in its meeting No. (13) of 2025 held on 14/05/2025 regarding approving the documents of Kuwait Central Depository Company; and

- CMA Board of Commissioners Resolution passed in its meeting No. (16) of 2025 held on 03/06/2025 regarding entry into force of the second batch of the third phase of Market Development Project.

The Following Was Resolved

Article (1)

Resolution No. (92) of 2025 Regarding the Development of the Infrastructure of the Post-Trade Model shall enter into force as of (13/07/2025).

Article (2)

All statements included in the following documents shall enter into force as of (13/07/2025), which are the following:

1. Kuwait Clearing Company Rulebook approved and issued by Kuwait Clearing Company.

2. The Recovery Plan of Kuwait Clearing Company approved and issued by Kuwait Clearing Company.

3. The procedures and default management document approved and issued by Kuwait Clearing Company.

4. Kuwait Central Depository Company Rules approved and issued by Kuwait Central Depository Company.

5. The Governance Document approved and issued by Kuwait Clearing Company and its subsidiaries.
 

Article (3)

The following documents shall be canceled as of (13/07/2025): 

1. Collateral Document issued by the Kuwait Clearing Company.

2. Securities Lending and Borrowing Rules issued by the Kuwait Clearing Company.

3. Collateral Document (OTC Market) issued by the Kuwait Clearing Company.

Article (4)

The current approved documents shall apply for a transitional period of six months as of (13/07/2025) which are:

1. Kuwait Clearing Company Rulebook issued by the Kuwait Clearing Company.

2. Procedures and Policies Rulebook for general Assemblies through electronic systems issued by the Kuwait Clearing Company.

These documents shall apply for the purpose of regularizing the status of depository members only, in accordance with what is stipulated in the transitional provisions in the Central Depository Rules document issued by the Kuwait Central Depository Company mentioned in Article (1). The provisions of these documents do not apply for any purpose other than this purpose and the purpose stipulated in Article (5) below.

Article (5)

The provisions of Article (2) mentioned above shall remain effective on the transactions executed before (13/7/2025).

Article (6)

The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from (13/07/2025), and it shall be published in the Official Gazette. 

Emad Ahmed Tifouni
Issued on 04/06/2025.

Copy of the Official Document