Title: Resolution No. (111) of 2025 Regarding the License Application Submitted by Kuwait Central Depository Company to Practice the Activity of a Clearing Agency

Having Perused:

- Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and amendments thereto; and

- Resolution No. (68) of 2016 Regarding Licensing Kuwait Clearing Company which Regularized its Situations Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments; and

- The license transfer mechanism issued for Kuwait Clearing Company in compliance with Article (4) of Resolution No. (68) of 2016 Regarding Licensing Kuwait Clearing Company which Regularized its Situations Pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments (Separate Entities), approved in CMA Board of Commissioners Resolution No. (32) of 2017 held on 16/08/2017; and

- Resolution No. (107) of 2021, (132) of 2020, (47) of 2020, (190) of 2019, (107) of 2019, (170) of 2018, (19) of 2018, and (113) of 2017 Regarding Extending the Grace Period Granted to Kuwait Clearing Company to Comply with Article (2-2-3) of Chapter Two of Module Four of the Executive Bylaws of Law No. 7 of 2010 and their Amendments; and

- Resolution No. (92) of 2025 Regarding the Development of the Infrastructure of the Post-Trade Model issued on 12/05/2025; and

- Resolution No. (101) of 2025 Regarding Entry into Force of the Second Batch of the Third Phase of the Market Development Project issued on 04/06/2025; and

- The application for licensing the activity of a Clearing Agency submitted by Kuwait Central Depository Company; and

- CMA Board of Commissioners Resolution passed in its meeting No. (19) of 2025 held on 02/07/2025. 

The Following Was Resolved:

Article (1)

Kuwait Central Depository Company is hereby licensed to practice the activity of a Clearing Agency to provide securities depository service.

Article (2)

The license term for the mentioned Company shall be from the entry into force of the second batch of the third phase of the Market Development Project on13/07/2025.

The mentioned Company shall pay the prescribed fee upon license renewal for any other period according to the provisions of Law No. 7 of 2010 and its Executive Bylaws and their amendments, and the CMA’s resolutions and instructions.

 Article (3)

Kuwait Clearing Company shall complete the transfer of all work related to the activity of Clearing Agency to provide securities depository service to Kuwait Central Depository Company, and the consequent procedures, within a maximum of six months from 13/07/2025.

 Article (4)

The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from 13/07/2025, and it shall be published in the Official Gazette.

Emad Tifouni

Issued on: 03/07/2025

Copy of the Official Document