CmaBoardReleases
Title: Press Release: The Capital Markets Authority Publishes the Eighth Issue of its Electronic Awareness Magazine
Kuwait, June 1, 2022 – The new issue of the Capital Markets Authority’s (CMA) electronic awareness magazine was published on June 1, 2022., The quarterly magazine covers economic affairs, securities activities, and the CMA’s news and events. It also raises awareness in various financial, investment and legal issues. The magazine was first launched in September 2020.
The publication starts with an article by the Managing Director of the CMA, Prof. Ahmad Al-Melhem, in which he addresses the topic of cancelling the listing of some companies, the obligations of the company, and the joint responsibility between the company’s board of directors and its shareholders, as it is in the best interest to provide a sound financial market free of paper companies, and violating or unsuccessful companies that are unable to meet the requirements of remaining in the market. He concluded by stating that there is an opportunity for the companies whose listing was cancelled to regularize their situations, settle their violations, and re-list again, and the first step is always holding their general assemblies.
The "Economic Leader" section was devoted to recalling the biography of one of the pioneers of modern Kuwait, the late Khaled Youssef Al-Marzouq, and his creative initiatives in the worlds of money, economy, investment, and the media. As for the legal section, it presented a summary of the CMA's preparation efforts for the upcoming trading of financial derivatives after the end of the period of regularizing the situation of companies whose purposes include brokerage in dealing in financial derivatives or those who market services related to their trading.
The following sections included the “Issue Event”, dedicated to the first-of-its-kind awareness campaign for financial inclusion that the CMA recently implemented in conjunction with the Arab Day for Financial Inclusion, which has become an urgent requirement that cannot be postponed. Moreover, it is important to adopt a national strategy for financial inclusion.
In the Opinion and Vision section, Dr. Muhammad Ibrahim Al-Wasmi and Dr. Fahd Nima Al-Shamr -, faculty members in the Law Department at the College of Law at Kuwait University - discussed the topic of "The Rule of the Impartial Board of Directors of the Company Subject of the Acquisition Offer According to the Executive Bylaws of the CMA Law."
The Issue File presented the development initiatives related to licensing and registration activities. This was followed by the "Prospects and Trends" section, which covered the CMA's receipt of the ISO certificate according to the international standard No. 27001 in the field of information security, which falls within the framework of its efforts to enhance digital transformation, ensure the protection of its clients, and settle its practices in various aspects of its work with the latest implemented international standards.
As for "Accounting Standards for All: Other Comprehensive Income" and "Preparations for upcoming benefits in the field of Anti- Money Laundering and Combating Financing of Terrorist ", were other topics addressed by the issue.
“Economic Repercussions of the Ukraine War", "Boom in Global Wealth", " Collapsing and Flourishing of International Currencies" and "Twitter Swallowed the Poison Pill" were some of the economic news included in the new issue of the magazine, which presented in other sections a variety of reports related to the activities of the capital market, the tasks of the CMA, in addition to its most prominent events and activities during the three-month period covered by the publication, and extending between the months of March and May 2022. The issue ended with its last sections “In Conclusion” in which the Editorial Director (the Director of CMA’s Awareness Office) presented the CMA’s current awareness plan and its initiatives, which he considered as an indication of the end of the Corona pandemic era and the beginning of recovery from its repercussions.
To browse the magazine, please scan the QR code
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: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw