KUWAIT: Boursa Kuwait hosted The Network Forum's (TNF) Middle East Meeting, which was held from 8-9 November 2021, along with Kuwait Clearing Company (KCC), to highlight the latest capital market developments in the region. The Network Forum is a curated global community for the custody, settlement, and post-trade industry, aiming to provide a structured networking environment, in which key issues are discussed, developments are communicated, and best practices shared.

The TNF's Middle East Meeting gave experts from across the region the chance to discuss the latest projects and products, the sub-custody landscape and its recent developments, as well as central securities depository initiatives and structure. Also discussed were the latest standards and practices in Environmental, Social and Governance (ESG) reporting, how technology is shaping our future as well as regulations and reforms.

Mohammad Saud Al-Osaimi

Commenting on the initiative, Boursa Kuwait Chief Executive Officer Mohammad Saud Al-Osaimi, said, "Boursa Kuwait's hosting of the Network Forum's Middle East Meeting comes as part of our commitment to raising awareness of the larger investment community to the latest developments in Kuwait and the Middle East, which is fast becoming an important investment destination for investors worldwide."

Al-Osaimi added, "Throughout the pandemic, stock markets were still able to attract local and international investors, launch an assortment of products and services, and see many companies list, accomplishments that I am sure we are all proud of. I would like to thank the Network Forum and our co-hosts, Kuwait Clearing Company, for their efforts in making this event a successful one."

Andrew Barman

Speaking on behalf of the Network Forum, Managing Director Andrew Barman said, "The Network Forum is delighted that the Middle East Meeting was a resounding achievement. I would like to thank Boursa Kuwait and Kuwait Clearing Company for co-hosting this event and contributing to its success, and look forward to further collaborations in the future."

Boursa Kuwait's sponsorship and hosting of the event came as part of the exchange's commitment to promote knowledge, awareness and transparency through the sustained approach to education with respect to all key stakeholders. The company has continued to fund and support a range of high-impact, education-focused initiatives as well as enhanced collaboration with local, regional and international strategic partners as part of the "Education" pillar of its Corporate Sustainability strategy, which is in line with Goal 4 - Quality Education - and Goal 17 - Partnership for the Goals of the United Nations' Sustainable Development Goals (SDGs) as well as the National Development Plan for the State of Kuwait.

The company's Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company's corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, in order to achieve longevity and an ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange.

As part of the strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, environmental protection as well as safety and preventive measures against COVID-19.

Since it was established by the Capital Markets Authority to take over the responsibilities of the Kuwait Stock Exchange in 2014, Boursa Kuwait has worked diligently to build a progressive exchange platform based on efficiency and transparency, with a view to creating long-term value for the company's stakeholders in the economic, social and environmental dimensions.

Guided by a mission-driven strategy that focuses on developing the market in line with international standards, Boursa Kuwait has successfully introduced innovative investment tools, reinforced transparency, and restructured the market to increase its competitiveness and liquidity. The company's market developments and enhancements have contributed to the reclassification of the Kuwaiti capital market to "Emerging Market" status in the world's top three indices, strengthening Kuwait's position as a leading financial center in the region.