Boursa Kuwait participates in virtual seminar
KUWAIT CITY, Oct 14: Boursa Kuwait participated in the virtual seminar organized by the Financial Services Corporation (HSBC), with the participation of the Capital Markets Authority, with the aim of shedding light on the latest developments and preparations for the inclusion of the Kuwaiti Capital Market in the “MSCI” (Morgan Stanley Capital International) emerging markets index in late November, reports Al-Anba daily.
Boursa Kuwait was represented in the symposium by the Head of the Market Sector at Boursa Kuwait, Noura Al-Abdul Karim.
At the symposium she commented on the important achievements made by the Boursa as a result of its wide efforts in developing and strengthening the Kuwaiti Capital Market, and also presented the most important changes that have been introduced recently in trading mechanisms to accommodate the requirements for inclusion in the MSCI Index.
Al-Abdul Karim said during the symposium: “Despite the challenges posed by the emerging corona virus pandemic, the Kuwait Stock Exchange continued to achieve its strategic goals with full commitment to contribute to the advancement of the Kuwaiti financial market and invite the international community to invest in it.”
She added: “In preparation for listing the Kuwait Stock Exchange in the MSCI Emerging Markets Index, the Kuwait Stock Exchange has implemented a series of exceptional measures for the trading mechanism, which will be applied on the listing day only to absorb the funds that are pumped, as there will be an extension of the closing auction and the trading session on the closing price.”
In the meeting, the Capital Markets Authority was represented by the head of the markets sector, Muthanna AlSaleh, and the director of the Markets Regulatory Department, Abdul Rahman Al-Failakawi.
In this meeting, the Authority reviewed its contribution to the development of the Kuwaiti Capital Market, the most prominent of which was the initiation of the market development project and the supervision of the implementation of its implementation stages, in addition to the latest developments in the project and its future plans.
It should be noted that the benefits of the promotion will contribute to the increase in the volume of institutional and foreign investments directed to the Kuwait Stock Exchange, by enhancing the level of liquidity in the market, diversifying the investor base, attracting high-quality IPOs to the market, and enhancing the role of the relationship between exporters and investors.