Legal Framework

The modernisation of the country’s capital markets continued in April 2018 through the promulgation and implementation of Boursa Kuwait’s new rulebook. Its purpose is to clarify the regulatory and organisational framework of Boursa Kuwait and all other aspects of Kuwait’s stock exchange. The new rules provide, among other things, for the segmentation of the market into the premier market, main market and auction market. Each segment has been designed to provide the most suitable disclosure and listing requirements for their members. These reforms also included the recognition and regularisation of specific new transactions, such as short selling, security lending and borrowing. This chapter contains a viewpoint with Ahmed Barakat, Managing Partner, ASAR – Al Ruwayeh & Partners.