CmaBoardReleases
Title: Press Release: Al-Melhem: Important Achievement by the CMA in Information Security and Addition of a Major Indicator to the Governance Rules
Kuwait, January 26, 2022 – The Chairman of the Capital Markets Authority’s (CMA) Board of Commissioners and the Managing Director Prof. Ahmad Al-Melhem announced that the CMA has obtained ISO certificate in information security (ISO/IEC 27001:2013). The scope of the certificate includes all the CMA’s systems of managing information technology and communication after meeting the technical and administrative requirements and applying the supervision and security regulations of such systems.
The CMA is keen to protect its information and the data of persons subject to its supervision, in line with best international practice in the information security field. ISO 27001 standard is one of the most reliable and well-known international standards of information security. The standard also determines the requirements of the Information Security Management System (ISMS) and the method adopted by institutions in managing and addressing the information assets’ security, such as financial information or intellectual property as well as the information entrusted to the CMA by other parties.
Prof. Al-Melhem mentioned that the achievement is a result of continuous efforts taken by the CMA to protect its information against all the internal and external risks. It ensures the soundness and availability of information and the continuous improvement of information security systems.
He added that protecting the data of persons subject to the CMA’s supervision with the development of the electronic threats is one of CMA’s main objectives. The CMA’s receipt of this certificate shall increase our commitment in the requirements and principles of the Information Security Management System.
The CMA’s Chairman indicated that (TUV), which is an international company specialized in checking the procedures of information security, has ensured CMA’s compliance with all the technical requirements and the supervision and security regulations and reviewed all the items of the international standard, and confirms that active policies and sound procedures are included in its application.
Prof. Al-Melhem declared that this achievement is regarded as an important step towards achieving CMA’s Board of Commissioners’ vision in implementing the digital transformation and working professionally in accordance with the international standards. It strengthens CMA’s efforts regarding its governance rules, which resulted in ranking first among the public authorities with independent budgets in implementing the governance rules, according to the annual report of the State Audit Bureau (SAB).
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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.
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