TRANSFORMATION BACKGROUND AND OBJECTIVES

Boursa Kuwait Securities Company (BKSC) was founded in April 2014 by the Capital Markets Authority Commissioners’ Council resolution No. 37/2013 dated 11/20/2013 and permeable to Law No. (7/2010), to replace the Kuwait stock exchange in order to create a competitive securities exchange at the regional level, and upgrade standards in the capital markets to the international level. Boursa Kuwait key strategic objective is to execute an effective management of the transformation from the current operator while creating an attractive issuer base, broadening the investor base, increasing depth and breadth of products and upgrading the stock exchange infrastructure and business environment to international standards.

Boursa Kuwait aims with this strategy to enhance the current level of performance, achieve emerging market status, enable the market to compete with regional peers, and build a market reflecting the strength, depth and flexibility of the Kuwaiti private sector.

TRANSFORMATION STRATEGY

To ensure a smooth transformation of the exchange that meets the ambitions of all stakeholders, Boursa Kuwait developed a strategic roadmap and detailed an operational takeover plan between December 2014 and March 2015 in collaboration with a consultancy group. During this period, Boursa Kuwait conducted an in-depth market scanning exercise, best-practice benchmarking of global peers, and an in-depth analysis of KSE’s financial performance and operational infrastructure. Over 2,300 hours were invested by March 2015 in total and intensive meetings were held with over 65 stakeholders and market leaders including banks, investment and brokerage firms, business associations and listed companies. The transformation plan consists of critical work-streams, each of which contains multiple projects to ensure swift transformation of KSE’s systems and high priority processes. The plan also focuses on identifying the right opportunities for the current KSE staff either within the CMA or the new company. As of April 1, 2015, all preparations for the work-streams was initiated and Boursa Kuwait team is working closely with CMA Council of Commissioners and the KSE's management team to ensure the successful takeover and transformation of the stock exchange.

  • PHASE 1: Setting Strategic Roadmap (Completed)

    Market assessment, research and development of the company’s vision, mission, corporate values, strategic roadmap and business plan.

  • PHASE 2: Operational Takeover Preparation

    Preparations for operational takeover of the KSE as per CMA Law 7/2010.

  • PHASE 3: Takeover Execution and Transformation Commencement

    Boursa Kuwait to takeover KSE operations and starts implementing the transformation plan.

  • PHASE 4: Transformation and Growth

    Focus on the growth of the company through the creation of an attractive securities issuers’ base, the broadening of the investors’ base and the increase of the depth and breadth of products.

Boursa Kuwait begins recruitment process, launches online center for stakeholders to track KSE transformation progress

Kuwait, June 14 , 2015 — Boursa Kuwait, the company founded in April 2014 by the Capital Markets Authority to become the new operator and owner of the Kuwait Stock Exchange (KSE), today launched an online communication center to be the home and first point of reference for the latest news, preparations, and developments regarding Boursa Kuwait takeover of the Kuwait Stock Exchange (KSE). Boursa Kuwait also announced that it began the first stage of the company’s recruitment process, starting with an exclusive application period for current KSE staff the ends on June 30th.

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Boursa Kuwait
Mubarak Al Kabeer Street, Kuwait City, Kuwait
P.O.Box 22235 Safat, 13083 Kuwait

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Telephone:22992000
Fax:22440476
E-mail: info@boursakuwait.com