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Second phase of revamping Kuwaiti bourse begins Sunday.

KUWAIT, March 31 (KUNA) -- Boursa Kuwait Company begins on Sunday second phase of overhauling the national stock market as part of an ongoing development strategy. The development process coincides with a declaration by the Financial Times Stock Exchange (FTSE) Russel that promoting the Kuwaiti bourse, to be enlisted among Russel's international stocks, would be in two segments. The team in charge of upgrading services and the bourse products, which groups the Capital Market Authority, the bourse company and Kuwait Clearing Company, had declared that the market, in the development process, would be divided into three ones -- the first, the main and the auctions. The first segment will be promoted within the FTSE index for international stocks, in tandem with the by-annual review of this index, due on September 24. The enlisting of the second segment will coincide with the index quarterly review. First phase included a strategy "roadmap," drawn up between December 2014 and March 2015. The Kuwaiti bourse company is aspiring to develop the national financial markets and enhance them to regional levels. Boursa Kuwait Company, owned by the Capital Market Authority, was established on April 21, 2014, signaling first step toward privatizing the stock market, established in 1983. Transitional phase began on April 25, 2016, when Boursa Kuwait Company officially took charge of the operations at the bourse. (end) mke.abd.rk

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Publication:Kuwait News Agency (KUNA)
Geographic Code:7KUWA
Date:Mar 31, 2018
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