CmaBoardReleases
Title: The Capital Markets Authority Receives the Lord Mayor of London
Kuwait, October 7, 2021, Prof. Ahmad Al-Melhem - Chairman of CMA Board of Commissioners and the Managing Director- received a delegation headed by the Lord Mayor of London, Alderman William Russell, accompanied by Mr. Vincent Keaveny - the next Lord Mayor, and the British Ambassador to Kuwait Mrs. Belinda Lewis on October 7, 2021 at CMA’s headquarter.
This visit is part of a tour to several financial institutions in Kuwait and senior economic officials. It is an extension of the relationships between the two countries in several fields and an opportunity to discuss several future projects related to sustainable investment between the two countries, which include developing the control of financial technology (FinTech) and enhancing the digital regulatory environment. Additionally, the visit seeks to enhance the economic and investment relationships, considering that Kuwait is one of the oldest investors in the United Kingdom. During his visit to the CMA, the Lord Mayor of London expressed his interest in the CMA’s work that contributed in upgrading the financial market in the State of Kuwait and resulted in upgrading its classification in several indicators. He also expressed his interest in the Market Development project, the stages it has completed in record time, and its impact in improving the efficiency of the local investment environment according to the latest standards and the applicable international practice. Moreover, the issues discussed were the CMA’s membership in IOSCO since 2017 and its meeting of about 95% of the organization’s standards, as well as CMA’s current strategy and its inclusion of projects, programs, and developing businesses. Prof. Al-Melhem expressed CMA’s aspiration in upgrading the financial market of Kuwait to a developed emerging market according to FTSE Russell as well as CMA’s introduction of opening the channels of communication and coordination with the UK Financial Conduct Authority (UK FCA).
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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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