KUWAIT: Boursa Kuwait yesterday completed the Kuwaiti capital market’s inclusion into the MSCI Emerging Markets Indices with the successful implementation of the first tranche of index inclusion. A total of seven listed companies – the National Bank of Kuwait (NBK), Kuwait Finance House (KFH), Zain, Agility, Boubyan Bank, Mabanee and Gulf Bank – were included. The inclusion brought in huge inflows to the market, as the total traded value during the inclusion was over KD 961.6 million, most of which came from foreign inflows.
HH the Prime Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah hailed Kuwait’s entry into all emerging markets and achieving a quantum leap in its ranking of improving the business environment and enhancing competitiveness indicators. Minister of Commerce and Industry and Acting State Minister for Youth Affairs Khalid Al-Roudhan said Kuwait’s inclusion in international indices is an important aspect of the implementation of the New Kuwait 2035 vision and the embodiment of the idea of transforming Kuwait into a regional financial center.
Bader Nasser Al-Kharafi, head of the executive committee at Boursa Kuwait, said this achievement proves the private sector’s success in operating Boursa Kuwait, one of the most important economic facilities in the country. Boursa Kuwait’s Chief Executive Officer Mohammad Saud Al-Osaimi said: “We saw values of over 961.6 million Kuwaiti dinars traded today, which is proof of the Kuwaiti capital market apparatus’s success in absorbing these unprecedented foreign inflows.”
The Capital Markets Authority said in a statement yesterday that it played a significant role in developing the Kuwaiti market and promoting Kuwait in international indices, starting with the plan of developing the market and overseeing its implementation in cooperation and coordination with Boursa Kuwait and Kuwait Clearing Company.