Boursa Kuwait, GCC stock exchanges join forces with HSBC to present investment opportunities
LONDON: Boursa Kuwait successfully organized its tenth Corporate Day in London, coinciding with the London GCC Conference organized by HSBC, one of Europe’s largest banks, from 12-16 June.
The prominent event brought together twelve companies listed in the esteemed “Premier” Market, including Boursa Kuwait, with more than50globally recognized asset management firms and investment companies. Over the 80 meetings conducted during the conference, international investors were provided with a valuable opportunity to gain in-depth knowledge about the listed companies, as well as a comprehensive understanding of the financial performance and business strategies employed by the companies publicly traded in the Kuwaiti capital market.
Boursa Kuwait’s Chief Executive Officer Mohamad Saud Al-Osaimi expressed his thoughts on the occasion, stating, “As we mark our tenth Corporate Day, a tradition that started in 2017, we remain committed to showcasing our listed companies and investment opportunities to foreign institutional investors through our series of Corporate Days and Roadshows, a tradition we’ve started in 2017. Our tenth Corporate Day gave us the opportunity to engage with over 50 asset management firms and investment companies and presenting the unique investment opportunities available in Kuwait.
The company constantly seeks to provide transparency and ensure that market participants, including both local and international investors, have a voice in shaping our market.” Al-Osaimi expressed his optimism for the future, anticipating a productive period ahead and highlighting ongoing developments in the Kuwaiti market. He emphasized that Boursa Kuwait remains committed to enhancing the market in line with international standards and practices and stated that the upcoming launch of the Central Clearing Counterparty system (CCP) is expected to reduce systematic risks in capital markets.
“Boursa Kuwait aims to introduce additional products and services, focusing on key objectives such as fostering an attractive issuer base, expanding the range of products, diversifying the investor base, and upgrading infrastructure and business practices to meet international standards,” he added. The conference also brought together CEOs and senior executives from the GCC stock exchanges, as representatives from Kuwait, Saudi Arabia, Oman, Qatar and the United Arab Emirates showcased the benefits and prospects of investing in their respective countries. This conference marked the second meeting of GCC exchanges and featured a panel discussion that provided valuable insights into each country’s economic outlook.
Representing Kuwait on the panel were Boursa Kuwait’s Chief Executive Officer, Mohammad Saud Al-Osaimi and Abdulaziz Ibrahim Al-Mulla, the Head of the Debt Management Department at the Ministry of Finance, which was moderated by HSBC Global Research’s Chief CEEMEA Economist Mr. Simon Jon Williams. For his part, Head of the Debt Management Department at the Ministry of Finance Abdulaziz Ibrahim Al-Mulla thanked Boursa Kuwait and HSBC for inviting him to the conference, which was an opportunity to showcase the State of Kuwait’s National Development Plan for diversifying the economy to international investors, adding that the private sector has an integral role in that plan.
Al-Mulla also showcased the national debt market and the need to develop it in line with the tenets of the “New Kuwait 2035” vision. Boursa Kuwait has been a key driver in the development of the Kuwaiti capital market and the diversification of the national economy, in line with the goals of the “New Kuwait 2035” vision. Since its establishment, the company has been dedicated to building a reputable exchange founded on efficiency and transparency, fostering a liquid capital market and developing an advanced exchange platform through a comprehensive set of reforms and enhancements that has allowed it to compete on an international level. Over the past five years, the company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans.
