Kuwait

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Ahead of a planned privatisation of the country’s stock exchange, Kuwait’s Capital Market Authority (CMA), has been stepping up efforts to ensure listed firms are fully in compliance with a tightened regulatory regime, while at the same time providing transparency and accountability.
New corporate governance rules announced by the Central Bank of Kuwait (CBK) in June should continue to strengthen the banking sector and address issues that have been attributed to a weak corporate governance framework.
Building contractors in Kuwait will be hoping that the roll out of the state’s $108bn national development plan drives up activity in the sector, although political wrangling and red tape could mean key projects struggle to meet their 2014 deadlines.
Conscious that its economy is currently highly dependent on oil and closely tied to markets that continue to face economic uncertainty, Kuwait’s government is looking further afield to new investment destinations as well as to moves to stabilise oil prices.
Kuwait is moving to bring its information technology (IT) infrastructure in line with its neighbours by improving services, the network and the regulatory environment that governs the sector.
The Kuwait Stock Exchange (KSE) is in the midst of what has been described as the largest overhaul of its trading system in almost 20 years, and measures to privatise the bourse, streamline procedures and strengthen transparency all aim to raise the market’s profile and appeal as an investment destination.

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