Title: Resolution No. (60) of 2019 Regarding 2019 Entry into Force of the First Batch of the Third Phase of Market Development Project (MD-3.1)

Having Perused:

- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments; and

- CMA Board of Commissioners Resolution passed in its meeting No. (11) of 2019 held on 02/04/2019; and

- CMA Board of Commissioners Resolution passed in its meeting No. (14) of 2019 held on 24/04/2019;

The Following Was Resolved

Article (1)
The provisions of the following documents shall enter into force as of April 28, 2019: 
a. Amendments to Boursa Kuwait Rulebook relating to the first batch of the third phase of the market development project (MD 3.1).
b. Amendments to Kuwait Clearing Company Rulebook relating to the first batch of the third phase of the market development project (MD3.1).  

Article (2)
 The launch of stock lending and borrowing and short selling is hereby postponed to no later than 30/06/2019 to subject the concerned parties to further market wide tests. 

Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from 28/04/2019, and it shall be published in the Official Gazette. 

Prof. Ahmad A. Al-Melhem

Issued on: 24/04/2019

Copy of the Official Document