Title: Press Release: Capital Markets Authority and FSDC, Sign Addendum to Memorandum of Understanding

Kuwait, 13 May 2025 – The Capital Markets Authority (CMA) represented by Mr. Emad Ahmed Tifouni, Chairman of the CMA and Managing Director, welcomed a delegation from the Financial Services Development Council (FSDC), represented by Mr. Andrew Weir, Vice Chairman,  and Dr Au King-lun, Executive Director. to sign an addendum to the Memorandum of Understanding (MoU) originally signed in February.

This addendum,  requested by both parties,  enhances cooperation in emerging financial domains and is considered  an integral component of the original MoU. It  addresses collaboration in the areas of artificial intelligence,  digital assets,  financial technologies and Web3 tools. Additionally, it promotes the exchange of knowledge through joint events, workshops, seminars, sharing of best practices, and capacity-building initiatives such as staff  visits and exchange programs.

The addendum was signed on behalf of the CMA by Mr. Emad Ahmed Tifouni, an on behalf of the FSDC by  Dr. Au King-lun.

In addition, the Capital Markets Authority team provided an introductory presentation about the CMA and the latest developments in the market. The FSDC team, in turn, introduced the Council and highlighted key market developments. Representatives from the Markets Sector presented developments in the Market Development Program and the current stage of the project, while representatives from the Supervision Sector presented developments in fintech, digital transformation, and the development of digital assets and crypto assets.

The MoU signed between the two parties earlier this year planned to strengthen ties, enhance cooperation, exchange information, and promote innovative financial services and products.

It is worth noting, The FSDC was established in 2013 by the Government of the HKSAR as a high-level advisory body to engage the industry in formulating proposals to promote the further development of the financial services industry of Hong Kong and to map out the strategic direction for the development.

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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.

For further information, please contact:
Public Relations & Media Office
Tel: 1888898
Email: pr-media@cma.gov.kw