CMA gets recognition at global level with IOSCO membership
As part of Kuwait’s ambitious vision to become a leading financial and investment hub by 2035, the Capital Markets Authority (CMA) has achieved notable recognition on the global stage.
In a significant milestone, the CMA has been appointed as a member of the Board of Directors of the International Organization of Securities Commissions (IOSCO), representing the Growth and Emerging Markets Committee (GEMC) for the term of 2024 to 2026, reports Al-Jarida daily.
This accolade marks the second consecutive term that the CMA has secured this prestigious position, underscoring its commitment to advancing national objectives and enhancing Kuwait’s presence in international arenas. IOSCO’s GEMC, comprising 115 members from diverse regions, plays a pivotal role in developing and fortifying emerging financial markets by establishing standards, offering training programs, and fostering information exchange and collaboration.
Kuwait’s representation on the IOSCO Board of Directors through the CMA signifies a commitment to institutional excellence and reinforces the authority’s dedication to principled, institutional governance. This institutional representation allows for flexibility in selecting representatives while ensuring continuity and stability in leadership.
Securing this position affords the CMA invaluable opportunities for collaboration and knowledge sharing with representatives of developed markets, enabling Kuwait to glean insights into regulatory best practices and cutting-edge investment tools.
Additionally, IOSCO’s involvement with esteemed international organizations such as the Basel Committee and the Financial Stability Board aligns with Kuwait’s overarching financial objectives.
This achievement is a testament to the CMA’s active participation in IOSCO committees, such as those overseeing secondary markets, intermediaries, and derivatives, as well as its steadfast adherence to IOSCO principles. The CMA’s exemplary performance has garnered widespread appreciation within the GEMC, culminating in its successful nomination.
Moving forward, the CMA remains committed to leveraging its IOSCO membership to enrich regulatory frameworks, foster economic growth, and realize the goals outlined in Kuwait Vision 2035. The Authority extends gratitude to the Minister of Trade and Industry for ongoing support, recognizing its pivotal role in advancing the CMA’s mission and contributing to Kuwait’s strategic vision for the future.
