Kuwait Capital Markets Authority publishes fourteenth annual report and reports 62% delivery of its current strategy

The Kuwait Capital Markets Authority (CMA) has issued its fourteenth annual report for financial year 2024/2025, setting out its legislative, regulatory, supervisory and market-development work, along with updates on internal governance and its forward programme under the current strategy. The report’s headline performance indicator is 62% completion of the CMA’s 2023/2024–2026/2027 strategy by the end of its second year, including completion of 50 sub-initiatives out of 127. It highlights progress on major infrastructure and rulemaking projects, including the Capital Market System Development Program, the electronic disclosure system using XBRL (with the mandatory application phase announced), implementation of the securities-based FinTech regulatory framework and company registrations in the CMA’s FinTech services registry, and issuance of rules for inter-registration funds aligned with a GCC common framework. It also notes establishment of the Capital Markets Academy, a standing sustainability committee and the CMA’s first annual sustainability report, and ongoing work to develop an Islamic finance regulatory framework, including provisions related to the regulation, issuance and trading of sukuk. Looking ahead, the report points to remaining initiatives in the current strategy and preparation of the next strategy covering 2027/2028 to 2030/2031, described as extending to end-March 2031, alongside planned next steps for the market systems programme and rollout of the XBRL disclosure regime.