The Kuwait Capital Markets Authority (CMA) has issued Resolution No. 101 of 2025 to launch, from 13 July 2025, the second part of the third phase of the Capital Market System Development Program, rolling out market-infrastructure and supervisory changes as part of implementing Law No. 7 of 2010. Key measures include granting the Kuwait Clearing Company a licence to conduct central broker activity, making it the first entity in Kuwait to perform this function, and upgrading ten brokerage firms to the qualified broker model to expand the range of services and products they can offer. The phase also includes operational changes such as completing cash settlements through the Central Bank of Kuwait system and settlement banks, establishing a series of financial guarantees, and creating sub-account numbers within consolidated accounts for investment portfolios and electronic accounts to support more efficient oversight of Boursa Kuwait trading. Systems for bond and sukuk offerings and for exchange-traded fund indices have been developed and tested, and draft amendments to the executive regulations of Law No. 7 of 2010 have been prepared as part of ongoing work to enable these products to be launched and to update the related regulatory framework.
Kuwait Capital Markets Authority 2025-07-12
Kuwait Capital Markets Authority launches second part of Phase 3 market development programme and licenses Kuwait Clearing Company as first central broker
The Kuwait Capital Markets Authority issued Resolution No. 101 of 2025 to advance the Capital Market System Development Program, implementing changes under Law No. 7 of 2010. Key initiatives include licensing the Kuwait Clearing Company for central broker activity, upgrading brokerage firms, and enhancing cash settlement processes. Systems for bond and sukuk offerings and exchange-traded fund indices have been developed, with draft amendments to the executive regulations prepared to support these initiatives.