Title: The Capital Markets Authority Announces the Ten Most Compliant Companies in Submitting the Governance Reports of 2017

Kuwait - August 14, 2017 – Following up the companies concerned with implementing the Corporate Governance rules, which are issued by the CMA and included in Module Fifteen (Corporate Governance) of the Executive Bylaws of Law No. 7 of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, showed remarkable progress in compliance with governance rules in light of the revision made to the Corporate Governance follow up forms of the current year. Such forms were submitted to the CMA through its electronic portal by all companies subject to the rules, and an off-site revision was conducted to the information of such forms to ensure their fulfilment of the governance rules.

Thus, as the CMA announces the results of compliance in implementing the requirements, it praises all companies that complied with submitting the required report within the specified period, in particular the first ten companies which met all the requirements. They are the following companies:
- Salhia Real Estate Company
-  Kuwait and Middle East Fin. Inv. Co.
- Al Mazaya Holding Company
- First Dubai for Real Estate Development Company
- United Real Estate Company
- National Industries Group (Holding)
- Bayan Investment Company
-  Global Investment House
- Arabi Holding Group Company
- Gulf Insurance Group

Finally, due to the important positive impact of corporate governance for the work of companies and the financial sector, the CMA urges all concerned companies to implement the corporate governance rules, not only because they are required by Law No. 7 of 2010 and its Executive Bylaws, but also because of the benefits it has to the company and its shareholders.

Ends

Notes to Editors
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority 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 Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The Authority 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