Boursa Kuwait receives World Federation of Exchanges membership
The vote was conducted during the recent 58th WFE General Assembly in Athens, Greece.
The new membership marks another milestone on the Kuwaiti exchange’s path towards further strengthening integration with global financial markets and benefitting from knowledge exchange with its peers.
Khaled Al-Khaled, CEO, Boursa Kuwait, commented: “We are very proud that Boursa Kuwait has been accepted as a full member of the World Federation of Exchanges. Since our privatization in 2016, we have put in a lot of hard and relentless work, and it is a pleasure to see it pay off.
“I am convinced that the excellence we have cultivated in our day-to-day operations has been a decisive factor in the positive vote.
“Not only has it given us a competitive edge over other stock exchanges in the region, but it has now also earned us this remarkable recognition amongst our peers in the global trade association.”
A rigorous assessment procedure preceded the membership vote. Boursa Kuwait was visited by a WFE inspection team, and several meetings with the management team as well as local key stakeholders, such as the Capital Markets Authority and the Central Bank of Kuwait, took place.
The Kuwaiti stock exchange has been pursuing the creation and operation of an efficient, fair and transparent capital market platform that services all relevant asset classes.
In their assessment report, the WFE Review Committee commended Boursa Kuwait on the attention paid to putting in place up-to-date regulatory and technological infrastructure, thus positioning the stock exchange for future growth and increased global exposure. ■