Title: The Capital Markets Authority Publishes the 13th Issue of its Electronic Awareness Magazine
Kuwait, September 2, 2023 – The Capital Markets Authority’s (CMA) electronic awareness magazine published its 13th issue first of September. The issue commences with the “Editorial” by Prof. Ahmad Al-Melhem - Chairman of CMA’s Board of Commissioners, in which he presents some of the regulatory procedures taken by the CMA recently and have long-term developmental and societal aspects, the most prominent of which is to continue the paths related to financial technologies, improve the work environment of the indicator of investors rights protection, be in line with the international standards relevant to securities activities and in particular the International Organization of Securities Commissions “IOSCO”.
Prof. Al-Melhem mentioned CMA’s directions towards preparing a roadmap for developing the financial Islamic industry in the capital markets, which shall promote such industry and add further diversity, creativity, and competitive investment opportunities to the local market in order to support the Islamic finance directives and establish it as one of the pillars of sustainable economic development finance.
The “Economic Leaders” section discussed the journey of the late “Hamad Abdul-Aziz Al-Saqer” and his national contributions that ever last in the generations’ memory in the economic, social, and charity areas. The “Legal Section”, on the other hand, discussed the topic of “Determine the Beneficiary of the Legal Person” beginning with the mechanism of determining him and the role of the concerned parties thereon, in particular the CMA, and ending with recommendations of the related working group and images of the ownership structures.
As for the “Issue Event” section, it discussed the topic of “The Second Competition of Gulf Smart Investor Award” and its participation fields and mechanisms and the nature of its awards that valued one million Saudi Riyals . This was followed by the section of “Opinion and Vision” in which Mr. Ayed Al-Arfaj, writer and researcher in the economic concern, presented his vision of the expected implications of the same trilateral financial destruction (inflation, raise of interest rate, refrain from purchasing) and the extent to which they may result in a global financial crisis.
Dr. Osama Adel A-Falah, the famous economic academic, was the guest of the “Issue Interview” section, in which he presented his vision of the reality of the current local and international economy and the future of the oil, in addition to CMA’s role in developing the capital market.
Furthermore, the topics of the awareness section varied between Mexico’s financial crisis in the nineties of the previous century known as Tequila Crisis, the role of the circular economy in saving our world from the implications of environmental pollution such as the present global warming crisis, in addition to CMA’ efforts of anti-money laundering and combating financing of terrorism. The “Information Awareness” section introduced Financial Fraud Triangle (opportunity, pressure, rationalization), while the issue of “Legal Regulation of Special Purpose Vehicle Companies” and “Standards of Sustainability Disclosure” were the topics of other sections.
Dr. Ali Al-Enzi, economic researcher and consultant, presented CMA’s role in upgrading the capital market and enhancing its connection to international markets in a qualitative study
The "Events " section summarized CMA’s most prominent events and activities during the issuance period that extended between the months of June and August.
In the issue’s concluding section “In Conclusion", the editor-in-chief of the magazine – Director of the Awareness Office Mr. Khaled Al-Saqer presented the need to consider our world’s current investment directions of environmental, humanitarian, and society services’ considerations, which include the projects of infrastructure, health care, educational services, and non-profit sectors such as societal organizations and charities, ending with confirming the importance of strengthening the bases of humanitarian economy and social investment.
Notes to Editors:
The Capital Markets Authority (CMA) of Kuwait was established pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments, approved by the Kuwaiti Parliament in February 2010. Under this Law, the CMA regulates and supervises securities activities, ensures transparency, fairness, efficiency, and observes listed companies’ implementation of Corporate Governance regulations. The CMA also protects investors from unfair practices and violations of 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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