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Kuwait bourse takes essential strategies towards global recognition - Al-Khaled

The bourse's CEO Khaled Al-Khaled
The bourse's CEO Khaled Al-Khaled

By Khaled Al-Daihani

LONDON, April 26 (KUNA) -- Boursa Kuwait is taking the essential strategies and plans towards global recognition, said the bourse's CEO Khaled Al-Khaled late Wednesday.
After the start of Boursa Kuwait's roadshow in cooperation with the multinational financial services firm Goldman Sachs, Al-Khaled told KUNA that the main purpose of the event was to promote Kuwaiti companies.
Boursa Kuwait took the necessary steps to develop its infrastructure through phases which included the introduction of new indices as well as new rules to list companies, said Al-Khaled.
He indicated that "Our cooperation with Goldman Sachs came on the request of investors," adding that companies showcased in the roadshow were chosen on their recommendation.
The companies had held 60 meetings with senior representatives of financial institutes in the UK.
Asked about the date of privatizing the Kuwaiti bourse, Al-Khaled revealed "Our role, as a stock market, is to provide private data on listed companies to the Capital Markets Authority (CMA) and to prepare companies from a strategic, statutory, and Internal structure standpoints." The CMA and eight prestigious companies, including Kuwait Finance House (KFH), Burgan Bank, Zain, Kuwait Projects Company (KIPCO), Mabani, Mizan Holding, and Human Soft are participating in the tour.
In accordance with the Kuwait 2035 state vision, spearheaded by His Highness the Amir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and the Kuwait National Development Plan, the tour aims to enhance the economic landscape in Kuwait.
Goldman Sachs is a US multinational financial and investment services firm and is one of the most recognized banking institutions in the United States and the world. It operates in more than 30 countries and has six regional branches, with more than 100 offices and 35,000 employees and more than USD 850 billion of total assets. (end) kd.gta