Title: The Capital Markets Authority Organizes an Awareness Event “Indices and Passive Investing”
Date Publish 29 April 2019
Kuwait, April 29, 2019 – The Capital Markets Authority has held an awareness event concerning Indices and Passive Investing on April 29, 2019, in Kuwait. In his opening speech, Mr. Muthanna Al-Saleh, Head of Markets Sector, mentioned that the CMA is aware of the importance of this matter especially with the marked growth of the passive investing globally and regionally. Mr. Al-Saleh stated that since Kuwait has been of an importance to the world market indicators, there must be a need to learn how these indicators work and affect the capital markets. In addition, he mentioned that many products will be introduced as a part of the market development project, some of which will be based on the markets’ indices.
During the event, S&P Dow Jones representatives made a presentation about markets indices, their types, and the products that are based on them, as well as the procedures that are used to upgrade the markets and the countries in the international indices.
The event also included a seminar managed by Mr. Muthanna Al-Saleh, in the presence of Mr. Michael Orzano from S&P Dow Jones, Mr. Mohamad Al Hajj from EFG Hermes, and Mrs. Noura Al-AbdulKareem from Boursa Kuwait. The seminar focused on many issues concerning the benefits and risks of passive investing, what identifies the good market indices, and the flow of funds resulting from the upgrading some countries and their shares within the world market indices.
What makes this event more important is that it coincides with the fact that Kuwait has been upgraded in the international shares indices at S&P Dow Jones and FTSE Russell, and it is included on the watch list for the MSCI emerging index. Thus, Kuwait will officially be included in emerging markets indices at S&P Dow Jones in September 2019, and is expecting its inclusion in the emerging markets by MSCI in June 2019, to be officially included in May 2020.
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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