Wanted: A Kuwait Capital Market Authority

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The passing of the Capital Market Law (CML) recently by the Kuwait parliament is being debated and discussed extensively. In our assessment, this is a.....

Summary

The passing of the Capital Market Law (CML) recently by the Kuwait parliament is being debated and discussed extensively. In our assessment, this is a momentous decision and may mark a significant turning point in the capital market fortunes of Kuwait. Given the current global and regional market turmoil and the huge losses being suffered by local investors, there is a general lack of appreciation or enthusiasm about this key development. Barring Saudi Arabia, there is not much empirical evidence in the regional context to estimate the huge leap that this step is likely to bring. Apart from the usual benefits of improved systems, investor protection and transparency that the CML is supposed to herald, it is likely to bring in strong foreign investment interest especially at a time when Kuwait is positioning itself to become a financial hub and foreign investment in Kuwait stocks is generously allowed.

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Wanted: A Kuwait Capital Market Authority

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