Title: Capital Markets Authority Receives Lord Mayor of London

Kuwait – November 30, 2016 - Dr. Nayef Falah Al-Hajraf – Chairman of CMA Board of Commissioners and Managing Director received on Tuesday 29/11/2016 at CMA headquarters a delegation headed by Dr. Andrew Parmley - Lord Mayor of London. The meeting was attended by head of the mission of honor, Governor of Hawalli Lieutenant-General (rtd.) Sheikh Ahmed Nawaf Al-Ahmed Al-Sabah, and the British Ambassador to the State of Kuwait Mr. Matthew Lodge.

This visit is part of a tour made by the Mayor to a number of financial institutions in the State of Kuwait to promote the deep-rooted relationships between the two countries with regard to consultations and economy. It also enhances the communication and exchange of experiences between the CMA and different international institutions, and the CMA’s endeavor to promote the financial market in Kuwait to become an emerging market in accordance with best international practice. The upcoming phase of Kuwait’s securities exchange witnesses the presence of a global strategic international operator for the market, where the CMA aims to establish or contribute in the establishment of an educational or training institution related to the field of securities markets. This step is based on the provisions of Article (5) of Chapter Two of Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities, and its amendments.

The meeting tackled a number of mutual cooperation aspects between the CMA and the expertise in the UK, in particular in the field of training after the signing of agreement with the Chartered Institute for Securities & Investment (CISI) last August. It aims to establish a comprehensive program appropriate for the financial sector to serve the persons who deal in securities through the application of the qualifying tests for specific positions at the licensed persons in order to enhance the efficiency of market participants.

It is worth mentioning that former Lord Mayor of London Mr. Jeffrey Mountevans made a similar visit to CMA last January, during which he praised what he witnessed in Kuwait in terms of growth and development of the legislations and provisions issued by the CMA that reflect its visions of creating fair, efficient and transparent investment environment. 

Clarification to Editors
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010, and amended by Law No. 108/2014. Pursuant to the Law, the Authority shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance Regulations, and protect investors from unfair practices which violate the Authority's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The Authority also aims to provide awareness programs related to securities activities.

For more information, kindly contact:
Public Relations & Media Office
Tel: 22903062
Fax: 22903505
Email: pr-media@cma.gov.kw