KUWAIT

Published December 31st, 1969 - 11:59 GMT

The first law to organize the stock market in Kuwait was issued in 1962, though the first premises for the securities trading section was inaugurated in 1972, in the commercial fifty area in Kuwait City. In 1976, a resolution was issued to organize dealing in Kuwaiti share holding company shares, and a committee was designated to supervise these share holding companies. 

 

In April 1977 the stock exchange was opened, and was later referred to as the Kuwait Stock Exchange. In August 1983, an Amiri Decree was issued concerning the organization of the exchange as an independent financial institution. 

 

The stock exchange operates with the use of the Kuwait Automated Trading System (KATS)—a computerized trading system based on software specially developed and customized for the exchange. It is the first automated trading system in the world designed to be fully operational in the Arabic language. 

© 1969 Mena Report (www.menareport.com)

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