CmaBoardReleases
Title: Press Release: The Capital Markets Authority Publishes the Ninth Issue of its Electronic Awareness Magazine
Kuwait, September 1, 2022 – Today, the Capital Markets Authority (CMA) published its ninth Electronic Awareness Magazine. As the previous issues, it covered various topics from awareness investment and legal issues, in addition to CMA’s activities and events during the issuance period between the months of June and August of the current year.
The “Editorial” of Prof. Ahmad Al-Melhem - Chairman of CMA’s Board of Commissioners – covered the most prominent achievements of the CMA during the last four years which represents the elapsed period of the current strategy, as the completion rate was 84%, in addition to the most prominent development directions of the CMA for the next few years that it works on including them in its strategy for the years (2023/2024 - 2026/2027) which included the directions of digital transformation, enhancing the financial inclusion and sustainability, adoption of new technologies, stimulating innovation in CMA’s regulatory and supervisory work, and developing the Islamic financial industry in promotion of CMA’s role in achieving the development vision of the State of Kuwait.
The “Economic Leaders” section discussed the journey of the late Jassem Mohammad Al-Kharafi, who is always present in Kuwait’s memory, and his political, economic, and social achievements as well as charity.
The “Legal Section” discussed CMA’s independency aspects as a regulatory entity, followed by the “Issue Event” section that was allocated for two topics of a special importance in the present time, the first of which was the selection of CMA Kuwait represented by Mr. Muthanna Abdul-Wahab Al-Saleh - Head of the Markets Sector as Member and Board Representative (institutional membership) of the Growth and Emerging Markets Committee (GEMC) for a period of two years from the current year. The second topic was Gulf Smart Investor prize and its requirements that is available for all GCC citizens and residents and valid until the end of the current month.
The issue allocated the sections of “Opinion and Vision” and “Issue Interview” for two figures of broad economic track, the first one was Mr. Salem Al-Hatlani -economic researcher and writer of an interest in the economic matter and financial markets- who offered his advice that summarized his personal experience and knowledge to those seeking get-rich-quick or institutional investors in the financial markets, and the second one was Dr. Bilal Alsandid -legal advisor of several government and private entities and member at Centre for Constitutional and Administrative Studies at the University of Montpellier- who discussed several aspects related to CMA’s role and independency as well as the current regional and international political and economic issues.
Moreover, the “Issue File” was allocated for the following two topics: the fourth annual report of evaluating the performance of achieving the strategic objectives of the latest financial year (2021/2022) and the CMA eleventh annual report of the same financial year. The two reports offered a broad presentation of CMA’s most prominent achievements whether on the level of its current strategy (2018/2023) or on the level of the latest financial year. The section included CMA’s dedication of its transparency’s elements by setting key performance indicators for its core business and evaluating such indicators for the year 2021, which may be regarded as the first of its kind among the local regulatory and supervisory entities. The "Prospects and Trends" section discussed CMA’s project of developing the mechanism of participating in the general assemblies.
On the other hand, the most prominent topics discussed in the “Awareness” section were: tulip mania, stagflation, the differences between the decline in financial market indices and the movements of their correction, and the actuarial deficit, while the “Economic News” section discussed the crises that the international economy is currently facing and its expected prospects in the future, the inflation that threatens the European economies, the consequences of climate change, and other various topics.
In conclusion, the Magazine’s Editor presented the initiative of Gulf Smart Investor prize which he considered worthy of attention and participation for its being an available platform for showing the talented creations in addition to its valuable prizes.
To browse the magazine, kindly 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