Boursa Kuwait Awarded Full Membership at the Federation of Euro–Asian Stock Exchanges

Press release

Published July 22nd, 2018 - 05:05 GMT

Boursa Kuwait CEO, Mr. Khaled AbdulRazzaq Al Khaled

Boursa Kuwait has announced today its membership with the Federation of Euro-Asian Stock Exchanges (FEAS), which facilitates its integration with global financial markets and exchanges.

Through this membership, Boursa Kuwait will be a member of a federation that gathers exchanges from Europe, Asia and the Mediterranean and allows Boursa Kuwait to benefit from FEAS scope of activities, which will bring invaluable benefits to its members including awareness sessions, access to research, analysis and data, as well as widening the network.

Commenting on the earned membership, Boursa Kuwait CEO Mr. Khaled AbdulRazzaq Al Khaled stated: “Today’s significant announcement gets us a step closer towards fulfilling our key objective to become a leading regional stock exchange, and reflects Boursa Kuwait’s commitment to implementing the highest standards of international best practices and its efforts to establish a sound regulatory and technological infrastructure, to meet global standards, as well as position Boursa Kuwait for future growth.”

FEAS Chairman Mr. Mohamed Farid Saleh stated: “It is our pleasure to announce during FEAS's 25^th Extraordinary General Assembly that Boursa Kuwait's application is approved and awarded full membership. We would like to congratulate Boursa Kuwait for joining FEAS community as a full member. We look forward to beneficial and prosperous collaboration.”

Since its establishment in 2014, Boursa Kuwait has been committed to raising the standards of the Kuwaiti capital market, facilitating the development of a sound, internationally recognized, leading regional stock exchange.

Background Information

Boursa Kuwait

Boursa Kuwait was founded on April 21st, 2014 by the Capital Markets Authority Commissioners’ Council Resolution No. 37/2013 dated 20th November, 2013 and the Capital Markets Authority Law No. 7/2010. In addition to being primarily responsible for regulating all aspects of the Kuwaiti capital market, the Capital Markets Authority also has full ownership of Boursa Kuwait, which manages the exchange operations. Boursa Kuwait is responsible for introducing new trading rules, risk management practices, price discovery mechanisms and new technology to ensure that Boursa Kuwait is as robust and secure as possible. The establishment of Boursa Kuwait marked the first step in privatizing the Kuwaiti Stock Exchange, which was founded in 1983.