Title: Resolution No. (112) of 2025 Regarding Regularizing the Situations of Kuwait Clearing Company

Having Perused:

- Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and amendments thereto; and

- Resolution No. (68) of 2016 Regarding Licensing Kuwait Clearing Company which Regularized its Situations Pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments; and

- The license transfer mechanism issued for Kuwait Clearing Company in compliance with Article (4) of Resolution No. (68) of 2016 Regarding Licensing Kuwait Clearing Company which Regularized its Situations Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments (Separate Entities) approved in CMA Board of Commissioners Resolution No. (32) of 2017 held on 16/08/2017; and

- Resolutions No. (107) of 2021, (132) of 2020, (47) of 2020, (190) of 2019, (107) of 2019, (170) of 2018, (19) of 2018, and (113) of 2017 Regarding Extending the Grace Period Granted to Kuwait Clearing Company to Comply with Article (2-2-3) of Chapter Two of Module Four of the Executive Bylaws of Law No. 7 of 2010 and their Amendments; and

- Resolution No. (157) of 2019 Regarding the License Application Submitted by Kuwait Clearing Company to Practice Securities Activities Pursuant to Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments issued on 29/10/2019; and

- Resolution No. (92) of 2025 Regarding the Development of the Infrastructure of the Post-Trade Model issued on 12/05/2025; and

- Resolution No. (101) of 2025 Regarding Entry into Force of the Second Batch of the Third Phase of the Market Development Project issued on 04/06/2025; and

- CMA Board of Commissioners Resolution passed in its meeting No. (19) of 2025 held on 02/07/2025. 

The Following Was Resolved:

Article (1)

The existing license for Kuwait Clearing Company shall be amended as follows:

1. Cancel the activity of the Clearing Agency to provide:

• Clearing and Settlement Service.
• Central Counterparty Service.

2. Adding the activity of the Clearing Agency to provide:

• The service of establishment, ownership, and management of companies with the purpose of carrying out any of the clearing agency activities.

Article (2)

The authorized and issued capital of the Company shall be 20,025,000 (twenty million and twenty-five thousand Kuwaiti Dinars), and its legal form shall be “Shareholding Company”.

Article (3)

The situations of Kuwait Clearing Company shall be regularized pursuant to this resolution, and it shall complete the transfer of all the works related to the activity of Clearing Agency to provide:

• Clearing and Settlement Service.
• Central Counterparty Service.

To Kuwait Clearing Company and Kuwait Central Depository Company in accordance with the license granted to the two companies, and the consequent procedures and requirements, within a maximum of six months from 13/07/2025.

Article (4)

The license of the mentioned Company is valid from the entry into force of the second batch of the third phase of the Market Development Project on13/07/2025.

The mentioned Company shall pay the prescribed fee upon license renewal for any other period according to the provisions of Law No. 7 of 2010 and its Executive Bylaws and their amendments, and the CMA’s resolutions and instructions.

 Article (5)

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 Tifouni

Issued on: 03/07/2025

Copy of the Official Document