Title: Chairman and Members of CMA Board of Commissioners Congratulate His Highness on the Occasion of Promoting Kuwait Among the Index of S & P Dow Jones
Date Publish 18 December 2018
KUWAIT CITY, 18 December 2018 - His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah welcomed His Excellency the Minister of Commerce and Industry Khalid Nasser Al-Roudhan and the Chairman of the Board of Commissioners of the Capital Markets Authority, Prof. Ahmed Abdulrahman Al-Melhem and the members of the Board of Commissioners, as well as the Chairman of the Board of Directors of the Boursa Kuwait Mr. Saad Faisal Al Mutawa and the members of the Board of Directors and Mr. Khalid Abdul Razzaq Al Khalid, Chairman of the Board of Directors of Kuwait Clearing Company and CEO’s of both companies at Bayan Palace, where they congratulated His Highness the Amir on the promotion of Kuwait among the ranks of emerging markets within the Index of S & P Dow Jones, and added a brief explanation of the aspects of the strategic plan of the Authority and its future projects.
His Highness praised the efforts exerted by the Authority and all concerned parties to obtain the promotion, which serves the national economy and strengthens its position locally and internationally. His Excellency the Minister of Commerce and Industry presented to His Highness, the seventh report of the Capital Market Authority for the financial year 2017-2018.
The delegation also met with His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and offered him congratulations on this occasion, thanking him for his support and constant encouragement.
It is worth noting that this upgrade comes as a result of the implementation of the market development program in its first and second stages, with the start of the third phase of development, which is supervised by the Authority in cooperation with Boursa Kuwait and Kuwait Clearing Company. It is considered the second promotion after being promoted to emerging markets in the FTSE Russel Index announced on September 29, 2017, the actual implementation of the addition of the State of Kuwait to the S & P Dow Jones Index will be implemented before the market opens on 23/09/2019.
On this occasion, the Capital Markets Authority (CMA) extends its thanks and appreciation to His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and to His Highness the Crown Prince and his Highness the Prime Minister for their continuous support to accomplish this achievement for the State of Kuwait, wishing Kuwait more progress and prosperity.
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 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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