Boursa Kuwait resumes operations
KUWAIT CITY, June 27: Boursa Kuwait has obtained the approval of the Capital Markets Authority (CMA) to resume some of its operations that were suspended due to the precautionary measures taken during the past few months. In addition to the ongoing trading on the exchange, the following suspended operations will be reinstated:
Sunday, June 28, 2020:
● Transfer of Ownership for listed securities: (bold)
Transfer of Ownership will resume as usual, with the requirement of email communication to submit the necessary forms and documents.
For listed securities: Trading@boursakuwait.com.kw
Thursday, July 9, 2020 (HH):
● Over-the-Counter (OTC) Trading:
Trading on the OTC platform will resume as usual and with no changes on trading hours.
● Transfer of Ownership for OTC:
Transfer of Ownership will resume as usual, with the requirement of email communication to submit the necessary forms and documents.
For OTC: OTCTrading@boursakuwait.com.kw
● Mandatory Executions:
Mandatory Execution appointments will be reset and announced later. This operation is subject to the readiness of the General Directorate of Implementation at the Ministry of Justice.
Borsa Kuwait’s announcement to reinstate suspended operations comes as a boost to the investment sector and the economy as a whole and is in line with the Kuwaiti government’s plan to resume life in light of the COVID-19 pandemic. The bourse continues to limit the number of employees and utilize the number necessary to conduct basic activities and operations only, as well as activating a system of rotation within essential departments, with the rest of the staff working from home and following the Ministry of Health’s precautionary measures.
Those infected with the COVID-19 virus will stay at home until they provide sufficient proof and documentation of their cure, as will employees living in quarantined areas and people who have debilitating illnesses and hereditary autoimmune diseases.
For the safety of its employees, and to provide a safe working environment for all personnel working in the building, the company will measure the temperature of employees and building personnel through thermal cameras, as well as re-arranging offices, raising awareness and providing instructions to ensure social distancing.Hand sanitizers and educational material will also be available in common areas.
Boursa Kuwait will continue canceling all its internal and external meetings, holding them only in cases of extreme emergency with adherence to preventive measures approved by the Ministry of Health. All internal and external meetings will be held via virtual platforms and video communications applications. For the safety of all market participants, the Boursa Kuwait building will continue to be closed to the public.Only those with a prior, documented appointment – and proof on their person - for Transfers of Ownership or Mandatory Executions will be allowed to enter the premises.
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