Bader Nasser Al-Kharafi appointed Chairman of Kuwait Stock Exchange Board

• Bader Nasser Al-Kharafi, the new Chairman of Kuwait Stock Exchange, brings 20+ years of expertise in finance, banking, industry, and telecom.

• Al-Kharafi’s chairmanship ushers in a new era focused on growth, market efficiency, and investor appeal.

• Al-Kharafi praised the His Highness the Amir’s Ramadan speech, emphasizing its message of hope, reform, and national progress.

The Kuwait Stock Exchange’s Board of Directors, after concluding its Ordinary General Assembly for 2024, convened and unanimously approved the new board formation for the 2025-2027 term. As part of this decision, Bader Nasser Al-Kharafi was appointed Chairman of the Board, while Bader Abdullah Al-Kandari was selected as Vice President for the same period.

The Board of Directors extended its sincere gratitude and appreciation to Hamad Mishari Al-Humaidi, the former Chairman, recognizing his pivotal role as the first Chairman of the Stock Exchange following the completion of its initial privatization phase.

The Council commended his outstanding leadership and contributions in establishing the Kuwait Stock Exchange as a key pillar of the national economy and a remarkable success in the country’s financial sector. His tenure was marked by significant milestones, most notably the highly successful IPO, which was oversubscribed by more than 850%, followed by the exchange’s listing in the “Premier” market.

The new Chairman of Kuwait Stock Exchange’s Board of Directors, Bader Nasser Al-Kharafi is a distinguished leader in Kuwait, bringing over 20 years of experience across the financial, banking, industrial, and telecommunications sectors.

Since the privatization of Boursa Kuwait in 2019, Al-Kharafi has served on its Board of Directors, chaired the Executive Committee, and been a member of the Nominations and Remuneration Committee, playing a crucial role in shaping its strategies and enhancing its governance.

Al-Kharafi’s appointment as Chairman of the Board marks the start of a new phase driven by ambition and a forward-looking vision. Under his leadership, the company aims to advance further, emphasizing market efficiency and enhancing its appeal to investors.

Commenting on his appointment as Chairman of the Board, Al-Kharafi expressed his gratitude to the Board members for their trust in him during this crucial phase of Boursa Kuwait’s journey. He emphasized his commitment to advancing the capital market’s aspirations and strengthening its position. Being closely connected to Kuwait’s financial sector, he aims to accelerate the development of innovative financial products, services, and tools to enhance the market and create added value for all stakeholders.

Al-Kharafi further expressed his deep pride in the recent speech by His Highness the Amir, Sheikh Meshaal Al-Ahmad Al-Jaber Al-Sabah, delivered during the last ten days of Ramadan. He highlighted the speech’s message of hope and optimism for Kuwait’s bright future, emphasizing a new era of reform, development, and progress. In alignment with this vision, he reaffirmed Boursa Kuwait’s unwavering commitment to supporting the nation’s ambitious goals, stressing the need for collective efforts across all sectors to achieve economic diversification, enhance financial stability, and establish a long-term strategic foundation for a prosperous and sustainable future.

Moreover, Al-Kharafi also emphasized that the privatization of the Kuwait Stock Exchange has demonstrated how a clear vision and professional management can drive a true transformation in financial markets. This, he noted, has strengthened the position of the Kuwaiti capital market among both local and international investors. He highlighted that Boursa Kuwait has a highly skilled and efficient team dedicated to achieving and advancing all stages of development, enabling the exchange to align with global best practices and enhance the overall financial market system.

Al-Kharafi reaffirmed his commitment to fostering a competitive investment environment by introducing new financial tools and products while prioritizing governance and transparency in line with international best practices. He announced that in the second quarter of this year, Boursa Kuwait is set to launch ETFs and a fixed income trading platform that will encompass bonds and sukuk.

Additionally, the implementation of the central broker system will pave the way for the future introduction of financial derivatives, further deepening the market and expanding investment opportunities for investors.

Al-Kharafi also commended His Excellency the Minister of Trade and Industry, Khalifa Abdullah Al-Ajeel, for his extensive expertise in the financial sector. He highlighted the minister’s significant contributions to the development of the regulatory and legislative framework, particularly through his previous roles as Chairman of the Financial Controllers Authority and a member of the Board of Commissioners of the Capital Markets Authority. Al-Kharafi emphasized that these experiences are a valuable asset and expressed Boursa Kuwait’s eagerness to strengthen cooperation with the minister to advance the interests of the Kuwaiti capital market.

Importantly, Al-Kharafi congratulated the chairman and members of the new Board of Commissioners of the Capital Markets Authority on earning their positions, wishing them success in their roles. He expressed optimism about the expertise and capabilities of the new board, emphasizing that their presence will contribute to strengthening the Kuwaiti capital market environment and driving its development forward.

Al-Kharafi emphasized Boursa Kuwait’s strong collaboration with the Capital Markets Authority, highlighting their partnership as a fundamental pillar in supporting market development and increasing its appeal to investors. He expressed eagerness to continue working together to achieve strategic objectives that advance the market in line with international best practices.

Source: Al Qabas