CmaBoardReleases
Title: The Capital Markets Authority Participates in EFG Hermes 14th Annual One on One Conference
KUWAIT CITY, March 6, 2018 - The Capital Markets Authority’s (CMA) delegation participated in EFG Hermes 14th Annual One on One Conference held over three days in Dubai, and organized by EFG-Hermes Holding for Middle East and North Africa and Frontier Markets. The conference is a meeting point for the most prominent international institutions looking to participate in the development of the markets in the region. A number of investors and representatives of regional institutions and companies will participate to review investment opportunities. The delegation was headed by Mishaal Al‐Usaimi - Vice Chairman of the Board of Commissioners and Acting Managing Director of the Capital Markets Authority, Moayed Al-Shakhs - Director, Office of the Managing Director, Abdulrahman Mohamad – Director of International Relations Office, Meshal Alsejari – Director of Public Relations & Media Office, and Abdulrahman Al Failakawi – Senior specialist in Vice Chairman’s Office.
The conference started with a welcome speech by Mr. Karim Awad, Chief Executive Officer of EFG-Hermes Holding, in which he gave a brief overview of the conference, its objectives and statistics.
The first session of the conference dealt with the issue of investment promotion and public sector management, in which HE Khalid Badawi, Minister of Public Business Sector in Egypt, discussed the Arab Republic of Egypt's plans to privatize some sectors and the benefits expected. He also talked about attracting foreign investors to invest in the privatization of some sectors.
The second session of the conference discussed the vision of the heads of the boards of directors and executive managers in the Arab financial markets and stock exchanges to shed light on the investment opportunities in the Arab countries. The meeting was attended by Mr. Mishaal Al‐Usaimi, along with senior officials who are represented by Mr. Khalid AlHomoud - Board of Commissioners member from the Saudi Capital Market Authority, and Dr. Obaid Al Zaabi - Chief Executive Officer from Emirates Securities and Commodities Authority, Mr. Mohamed Farid – Chairman of the Board of Directors of the Egyptian Exchange, and Mr. Khaled AbdulRazzaq AlKhaled - Chief Executive Officer of Boursa Kuwait. Al-Usaimi discussed the extent to which local parties accept the changes taking place in the Kuwaiti market. He said that the local investor is the basis of the structure of the market, which contributes to its stability in the long term, so all the changes that are applied are not only to attract foreign investment, but to raise the level of efficiency of the market to a global standard to attract local investors in addition to the foreign investor, in particular the local funds that leave the Kuwaiti market and target markets that work in line with international standards.
In response to another question at this meeting, Al-Usaimi explained that the biggest challenge is to keep pace with the various changes that are being implemented within the project stages, and the importance of the awareness role played by the Authority and Boursa Kuwait to meet this challenge.
It is worth mentioning that the Authority held several meetings with financial and international institutions on the sidelines of the conference. It also took part HSBC conference, in which a group of international and regional investors participated. The delegation met with a number of participating parties, and a brief was presented on the market development project and the various stages of its application.
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