Privacy Statement

This privacy statement (“Privacy Statement”) of Boursa Kuwait requires your careful attention as it is a legally binding document between you as a user (referred to in this Privacy Statement as “you”, “your” or “user”) and Boursa Kuwait (referred to as “Boursa Kuwait”, “we”, “us”, “our”).

At Boursa Kuwait, your privacy and the security of the personal data you provide to us are of utmost importance to us. We are committed to safeguarding the privacy of your personal data and the information that you provide, and we take all necessary precautions to ensure its security. This Privacy Statement will provide you with information and transparency regarding how we collect, use, and process your personal data.

Boursa Kuwait has therefore adopted this Privacy Statement which sets out and explains your rights, how we process your personal data (including our collecting, handling, storing, using, sharing, or transferring of such information (“Processing”)) when you engage with us, access, use, attend, and/or interact with our products, services, websites, events, platforms, software and applications, including mobile application (“Services”) and how you can contact us so we can respond to you if you have any of questions or concerns regarding the privacy of your information. 

The Services that we bring to you are provided by Boursa Kuwait Securities Company K.P.S.C., a public shareholding company incorporated under the laws of the State of Kuwait with Commercial Registration Number 355538 and registered address of P.O. Box 22235, Kuwait City, Kuwait.

Under our Privacy Statement, and by providing us with your personal data or by making use of the facilities provided by our Services or in any dealings you enter with Boursa Kuwait, you hereby agree: (i) that you have read and understood this Privacy Statement in its entirety; (ii) that you consent to the Processing of any or all of your personal data and non-personal data by us as specified under this Privacy Statement and subject to its terms and conditions; and (iii) that, without reservation and to the extent permissible under applicable laws and regulations in the State of Kuwait, you consent, accept and agree to be bound by the terms and conditions of this Privacy Statement. If you do not agree to this Privacy Statement, please stop using or accessing the Services. 

Personal Data and Information

When you use our Services, deal with Boursa Kuwait, or become engaged with us through recruitment or employment, we may collect and store your personal data and information. The information we collect may include:

1. name and contact details;
2. employer and professional level data;
3. account credentials;
4. payment information;
5. device information, usage information;
6. identification documentation;
7. special categories of data or sensitive personal information (when needed).

Collection

When you use our Services or deal with Boursa Kuwait, we may - depending on the purpose of each Processing of information and to the extent necessary collect and store your personal data from various sources, including:

1. filling applications, or entering into a contract with Boursa Kuwait
2. through your interactions with us and/or our Services;
3. through your system/device and use of our Services;
4. that is lawfully made available from sanctions, watchlists, records, databases, and/or systems of government agencies, departments, divisions, law enforcement, court, regulatory, registry, or other operating units, in electronic, paper, or any other format for you to access our Services; and
5. through recruitment and employment processes.

In general, you can browse the website without telling us who you are or disclosing any personal data about yourself. 

To the extent that any personal information is provided to us by a third party, other than the data subject, such third parties are also responsible for their own compliance with applicable data protection and privacy laws.

Once you give us your personal data, you are not anonymous to us. Where possible, we indicate which fields are required and which fields are optional. You always have the option to not provide information by choosing not to use a particular service or feature from the Service or otherwise by not being permitted engagement with or by Boursa Kuwait on particular contractual terms that require the collection of your personal data. 

Purpose

Boursa Kuwait is the authorized operator of the Kuwait Stock Exchange, the national stock market of the State of Kuwait with a commercial and operational license. We have a purpose in Processing your information where it is appropriate to provide comprehensive and optimal services to you as our valued user (“Purpose”). For the below-mentioned Purposes, as required by applicable law, Boursa Kuwait will obtain your consent as and when required to Process your personal data. Such Purpose may include Processing personal information so we can:

1. identification purposes;
2. internal usage for the business operations you are involved with us in;
3. provide you with the comprehensive and optimal Services that you request;
4. inform you about events or services related to Boursa Kuwait that may be of interest to you;
5. inform you directly about updates related to the products/Services you are involved in with Boursa Kuwait;
6. manage customer relationships such as processing payments and corresponding purposes;
7. detect and protect us against error, fraud, and other criminal activity;
8. comply with our legal obligations and enforce our terms and conditions;
9. facilitate recruitment and manage ongoing employment; and
10. improve our product and service offering to you based on your interest.

Relationship with Third Parties Regarding Your Data

We use your personal data to deliver our products and services, in order for us to support our business operations on a lawful basis, with your consent, and fulfill our legal obligations, contractual obligations, and legitimate business interest which you are aware of upon using our Services, Boursa Kuwait commits before starting Processing activities using new technologies to carry out data protection assessments in accordance with our local regulations and at times GDPR and by undertaking appropriate actions accordingly.

We may share personal data with banks, clearing agencies, brokerages, corporate entities, affiliates, and service providers (“Partner/s”) that support us in the delivery of our Services to you so that we can optimize the Services we provide you with. 

This personal data cannot be used by the Partners to market their own services. We will require the Partner to take steps to ensure that your personal data and information are kept secure and used in accordance with this Privacy Statement. The user undertakes and hereby agrees that Boursa Kuwait shall not be held liable for any unauthorized use of or access to your personal data by a Partner or any third party. The disclosure to third parties may be required for us to provide you access to any of our Services, as part of our Services and products, to comply with our legal obligations, to enforce any applicable user agreements, or to prevent, detect, mitigate, and investigate fraudulent or illegal activities related to any of our Services or otherwise. 

This Privacy Statement only applies to personal data collected directly through the Services and products offered to you by Boursa Kuwait. This Privacy Statement does not apply to any other third party or Partner that you connect to from the Services provided. The user hereby acknowledges and agrees that the user shall not hold Boursa Kuwait responsible for the content or practices of websites operated by third parties that are linked to or from the Services. 

We may also disclose your personal data to the following categories of third-party recipients in the following circumstances:

1. where you give us your consent;
2. to third-party service providers and Partners engaged in data processing services for us or handling personal data for Purposes outlined in this Privacy Statement or communicated to you during the collection of your personal data. Some Partners may handle specific tasks for us as part of contractual obligations, including cloud services for data storage, and task management which might involve transferring data outside of the State of Kuwait. We ensure that your data receives comparable protection, following data protection laws and regulations, through measures like contracts or adherence to standards;
3. in the context of a due diligence exercise of a potential transaction involved in a Boursa Kuwait assets sale, merger, or acquisition of any part of our business;
4. to competent regulatory authorities, government agencies, courts, or any other third party where disclosure is necessary for the purposes of (i) satisfying any legal, regulatory, tax, accounting, or reporting requirements; (ii) applicable laws or regulations; (iii) fraud prevention; and (iv) exercising our legal rights; and
5. where necessary for the performance of a contract with you.

Links to Other Sites

Our Services may link to other websites that may collect personally identifiable information about you. Boursa Kuwait is not responsible for the privacy practices or the content of those linked websites.

Security Precautions

We have stringent security measures in place to protect against the loss, misuse, and alteration of your personal data. Once your information is in our possession we adhere to strict security guidelines, doing our best to protect your personal data against unauthorized access and misuse. However, we cannot guarantee the security of your data transmitted online or over the Services.

All information you provide to us is stored on secure servers. Any payment transactions will be protected and safeguarded with high-security precautions. 

Your Rights and Access to Your Personal Data

You have a number of rights under Law No. 20 of 2014 concerning Electronic Transactions (“Privacy Law”) regarding how we handle and undertake Processing of your personal information. These include your rights to:

1. Request access to your personal data. This will enable you to receive a copy of the information we hold about you. We may charge a service fee for this.
2. Request correction of the personal data that we hold about you. This enables you to have any incomplete or inaccurate information we hold about you corrected, although we may need to verify the accuracy of the new information you provide to us.
3. Request the erasure of your personal data. This enables you to ask us to delete or remove the information data where there is no good reason for us continuing to Process it. Please note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.
4. Withdraw consent at any time where we are relying on consent to for the Processing of your personal data. However, this will not affect the lawfulness of any Processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to engage or contract further with you or provide certain Services to you. We will advise you if this is the case at the time you withdraw your consent.
5. Complain to the competent authority in Kuwait established under the Privacy Law to administer and oversee the operation of and compliance with the Privacy Law, where you are concerned that we may have not complied with the Privacy Law or any of its implementing requirements.

Software Disclaimer

We do not accept responsibility for any disruption, damage, and/or any losses of profits or data on your data or computer system that may occur while using or accessing the Services. We do not make any warranty that the functionality of the Service will be uninterrupted or error-free.

General

If any of the terms and conditions of this Privacy Statement should be determined to be illegal, invalid, or otherwise unenforceable by reason of any applicable laws or regulations; such provisions shall be removed and deleted from this Privacy Statement. To the extent reasonably possible, all other terms and conditions of this Privacy Statement shall remain in full force and continue to be binding and enforceable.

No ideas, material, computer code, information, or other communication you submit or post to the Service will be considered confidential or proprietary. All such material becomes the exclusive property of Boursa Kuwait which is entitled to use such material for any purpose without restriction or compensation. 

You are prohibited from posting or transmitting to or from the Service any unlawful, infringing, threatening, libelous, defamatory, obscene, or offensive material or any other material that would violate any applicable laws and regulations and we reserve the right to delete such material without giving any notice. We also reserve the right, at our sole discretion and without providing any explanation, to block any user from entering our website permanently. Views expressed or comments offered by the users shall be personal in nature of the users and we shall not have any responsibility whatsoever in this regard.

To the fullest extent permitted by applicable law or regulations, neither Boursa Kuwait nor any other third party, service provider, or Partner acting on behalf of or in conjunction with Boursa Kuwait, nor any of the respective affiliates, group companies, subsidiaries, or holding companies of either Boursa Kuwait or any authorized contractor, partner or service provider acting on behalf of or in conjunction with Boursa Kuwait (“Protected Companies”) nor any of the respective owners, shareholders, directors, officers, employees, agents, consultants or representatives of any Protected Companies shall be responsible for any proceedings, claims, liabilities, costs, fees (including attorney fees), expenses, delays, losses, penalties or other damages (howsoever arising) caused to you or any other third party arising out of or in connection with this Privacy Statement.

Changes to This Privacy Policy

Boursa Kuwait may change this Privacy Statement from time to time without notice. Any changes we may make to this Privacy Statement in the future will be posted where appropriate. Your continued use of the Services provided by Boursa Kuwait or engagement with Boursa Kuwait after we publish our changes to this Privacy Statement will mean that you are consenting to the updated Privacy Statement. This version was last updated on March 18, 2024.

Boursa Kuwait reserves the right in its sole and absolute discretion to change these policies, terms, and disclaimers at any time. Any such changes will take effect when posted on this page or otherwise notified to you and it is your responsibility to read the policies, terms, and disclaimers on each occasion you provide or obtain services from Boursa Kuwait and upon using Boursa Kuwait’s products, services, or the website or otherwise engage with us. Your continued usage or engagement shall signify your acceptance to be bound by the then-current or future policies, terms, and disclaimers applied by Boursa Kuwait.

No Liability

In no event shall Boursa Kuwait be liable for any loss or damage including, without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of the website or reliance placed by you on the information contained on this website. 

Contact

Should you have any questions or queries regarding this Privacy Statement, please contact us at info@boursakuwait.com.kw. 

Governing Law and Jurisdiction 

Any dispute relating to the enforcement, interpretation, or application of the Privacy Statement shall be governed by and construed in accordance with the laws of the State of Kuwait. Any dispute arising out of or in connection with this Privacy Statement, or any usages of Boursa Kuwait’s Services including the website shall be dealt with through the Courts of the State of Kuwait to the exclusion of all others.