Global: Islamic Development Bank Institute (IsDBI) Concludes Scoping Mission for Islamic Finance Technical Assistance to Kuwait’s Capital Markets Authority

The visit was in response to the CMA’s request for technical assistance, supported by the Government of Kuwait, to assist the CMA in developing the Islamic capital market in Kuwait

A delegation of the Islamic Development Bank Institute (IsDBI) (www.IsDBInstitute.org) concluded a scoping mission to the Capital Markets Authority (CMA) of Kuwait from 7-8 March 2023 to discuss the technical assistance for developing the Islamic capital market in Kuwait.

The delegation was received by the CMA Board of Commissioners Chairman and Managing Director, Dr. Ahmed A. Al-Melhem, who thanked the Institute for its continued support to Kuwait.

The IsDBI team was led by Mr. Yahya Rehman, Lead Islamic Finance Specialist, Dr. Abozer Mohamed, Senior Islamic Finance Specialist, and Dr. Abdallahi Mohamed, Senior Financial Product Development Specialist.

The visit was in response to the CMA’s request for technical assistance, supported by the Government of Kuwait, to assist the CMA in developing the Islamic capital market in Kuwait, in line with the CMA’s objectives of developing financial markets and diversifying investment instruments.

During the two-day meetings, the IsDBI team met with various departments of the CMA, industry players and other stakeholders to discuss the issues and challenges related to the development of the Islamic capital market in Kuwait.

The scope of the technical assistance project will include an in-depth assessment of the capital markets of Kuwait and a roadmap for its development, along with recommendations on strengthening the enabling environment, awareness campaign and capacity building within the CMA.