Taking Kuwait's capital market to global prominence with visionary strategies

As part of its engaging Growth Perspectives series, Oxford Business Group (OBG) has joined forces with Boursa Kuwait to launch a compelling new video entitled "Transforming Kuwait's Capital Markets", which sheds light on the remarkable strides taken by Boursa Kuwait and the Kuwaiti capital market apparatus in advancing reforms in the financial sector and driving growth within the Kuwaiti capital market. It is now available to view at: https://oxfordbusinessgroup.com/videos/boosting-investment-in-kuwaits-c…  

The documentary material sheds light on Boursa Kuwait’s commitment over the past few years to achieve the state’s developmental goals, highlighting the role of the private sector in this endeavour.  Since its establishment as a private company that manages and develops the Kuwaiti stock exchange, Boursa Kuwait has become a pioneer in the capital markets industry, ultimately achieving full privatisation status and self-listing in the “Premier” Market.

Guided by a visionary strategy aligned with international standards and practices, Boursa Kuwait has seamlessly integrated innovative investment tools, enhanced transparency, and meticulously restructured the market landscape. These strategic efforts have not only escalated competitiveness and liquidity but have also catapulted Kuwait's capital market to new heights, resulting in its reclassification as an emerging market in prominent index providers like FTSE Russell, S&P Dow Jones, and MSCI.

Furthermore, Boursa Kuwait's relentless endeavours to spotlight prominent listed companies through corporate days and roadshows have showcased unique investment prospects, rendering the market even more alluring. These efforts have translated into a significant uptick in traded value, growing from KD4.1bn ($13.6bn) in 2018 to approximately KD14.7bn ($48bn) in 2022. Additionally, market capitalisation surged from KD28.7bn ($95bn) in 2018 to KD46.7bn ($152.2bn) by the close of 2022.

Embracing the global focus on corporate sustainability and community contributions, Boursa Kuwait has taken substantial steps to incentivise businesses to adopt sustainable practices. In a notable stride, the company updated its ESG disclosure guide in 2021, incorporating a range of metrics that resonate with the UN Sustainable Development Goals, further aligning with evolving stakeholder demands.

Boursa Kuwait’s Senior Director of Marketing and Corporate Communications, Mr. Naser Meshari Al-Sanousi, underscored the importance of the partnership with Oxford Business Group, highlighting its instrumental role in communicating the monumental advancements achieved within Kuwait's capital markets to the global investment community.

“Since its inception, Boursa Kuwait has been dedicated to elevating the Kuwaiti capital market by introducing products and services that not only cater to the needs of local investors but also establish a reliable trading platform for investors on a global scale. Our contribution to the Growth Perspectives series is a concrete example of our commitment to raising the profile of our capital market regionally and globally and highlighting Kuwait's financial journey to the global investment community,” Al-Sanousi said.

Marc-André de Blois, Video Content Director at Oxford Business Group, emphasised that the 'Transforming Kuwait's Capital Markets' video genuinely encapsulates the remarkable journey of Boursa Kuwait toward establishing itself as a regional financial powerhouse.

“Through this collaboration, we reaffirm our unwavering commitment to showcasing the transformative stories of emerging markets through dynamic visual narratives, fostering a deeper understanding of their economic evolution, and shedding light on the profound impact of visionary strategies on their financial landscapes," he added.

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 inception, the company has worked diligently to create a credible exchange built on efficiency and transparency, creating a liquid capital market, a progressive exchange platform and developing 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.