Capital Markets Seeks To Create A Sustainable Financing Environment That Supports Economic Growth

The Capital Markets Authority affirmed its efforts to create a sustainable financing environment that supports economic growth, according to factors that take into account environmental, social, and governance aspects, due to the noticeable increase in the importance of these factors for investors. The Capital Markets said in a press statement today, Wednesday, that it participated in the hypothetical HSBC Securities Conference 2021, which was held between March 1 and 4, and reviews the latest developments and investment opportunities in the financial markets in the region.

The statement quoted the director of the Market Regulation Department at (Capital Markets) Abdul Rahman Al-Failakawi as saying that the authority has a tendency to adopt the recommendations issued by the World Financial Markets Organization with regard to sustainable financing. Al-Failakawi added that (Capital Markets) formed a team to develop recommendations related to the regulatory framework for sustainable financing and investment, according to factors that take into account environmental, social, and governance aspects. He explained that the Kuwaiti market development project will focus in the coming stages on strengthening the infrastructure in a way that supports offering and providing products and services in line with the standards of developed markets.

He pointed out that a regulatory framework will be developed to keep pace with the digital transformation in the financial sector and to enable the work of modern technological applications, especially in the field of financing technology. The Capital Markets Authority will hold intensive virtual meetings and meetings on the sidelines of this conference with international investment banks and foreign investors to explain the latest developments related to the Kuwaiti market and future plans to develop the market, listen to the remarks of investment banks, and investors, and answer all their inquiries.

The participation of (capital markets) in the conference is part of completing its efforts to raise the efficiency of the market and develop it in accordance with international best practices and diversify the investor base by attracting foreign and institutional investment. The Authority was established in accordance with Law No. 7/2010 approved by the National Assembly in February 2010 and its amendments. In accordance with the law, it regulates and monitors securities activities, achieves the principle of transparency, fairness, and efficiency, and obligates listed companies to implement the principles of corporate governance and protect investors from unfair practices that violate the Authority’s law.

 

SOURCE  TIMESKUWAIT

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