Boursa Kuwait Becomes a Humanitarian Partner of the Kuwait Red Crescent Society

Press release
Published November 24th, 2021 - 10:42 GMT
Boursa Kuwait Becomes a Humanitarian Partner of the Kuwait Red Crescent Society
During the event
Highlights
Boursa Kuwait sponsored the efforts of the Kuwait Red Crescent Society as a “Humanitarian Partner”, contributing to the sponsorship of the Society’s “Basic Education” initiative

Boursa Kuwait sponsored the efforts of the Kuwait Red Crescent Society as a “Humanitarian Partner”, contributing to the sponsorship of the Society’s “Basic Education” initiative, helping children inside Kuwait to gain an education. The initiative aims to reduce the burden on of low-income families, paying part of the tuition fees for about 5,000 students. The campaign, which is running for the sixth year in a row, pays orphans’ full tuition fees.

The initiative forms part of Boursa Kuwait’s efforts to create a lasting meaningful impact on the communities where it operates as part of its Corporate Sustainability strategy and is in line with Goal 4 – Quality Education – and Goal 17 – Partnership for the Goals - of the UN’s Sustainable Development Goals (SDGs) as well as the National Development Plan for the State of Kuwait, “New Kuwait 2035”.

Dr. Hilal Al-Sayer, Chairman of the Kuwait Red Crescent Society, commented on the occasion, saying, “The goal of the “Basic Education” initiative is to decrease illiteracy and the damage it inflicts on the community, through fostering the abilities and educations of the next generation and fulfilling them economically and socially. Education is the foundation of any stable society, which is why we think that this initiative is one of our most promising and important. I would like to thank Boursa Kuwait for their sponsorship and support, and look forward to more fruitful collaborations in the future.”

Mr. Naser Al Sanousi, Marketing and Communication Director at Boursa Kuwait, added, “Boursa Kuwait is proud of our strategic partnership with the Kuwait Red Crescent Society as a Humanitarian Partner and sponsor of this tremendous initiative. Boursa Kuwait seeks to be a force for good for all our stakeholders through an ongoing and diverse range of community and social impact initiatives that are in line with our Corporate Sustainability strategy and the United Nations’ Sustainable Development Goals. I would like to thank the Kuwait Red Crescent Society and Dr. Hilal Al-Sayer for hosting us today.”

Boursa Kuwait’s Corporate Sustainability strategy stipulates ensuring initiatives apply and fall in line with the company’s corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields, and integrating sustainability efforts with the company culture, in order to achieve longevity and an ongoing impact that is carried on and instilled in the day-to-day operations of the stock exchange. 

As part of the strategy, Boursa Kuwait has launched many initiatives in partnership with local and international organizations, focusing on support for nongovernmental organizations and charity programs, financial literacy and capital market awareness, the empowerment of women, as well as environmental protection.

Background Information

Boursa Kuwait

Boursa Kuwait was founded on April 21st, 2014 by the Capital Markets Authority Commissioners’ Council Resolution No. 37/2013 dated 20th November, 2013 and the Capital Markets Authority Law No. 7/2010. In addition to being primarily responsible for regulating all aspects of the Kuwaiti capital market, the Capital Markets Authority also has full ownership of Boursa Kuwait, which manages the exchange operations. Boursa Kuwait is responsible for introducing new trading rules, risk management practices, price discovery mechanisms and new technology to ensure that Boursa Kuwait is as robust and secure as possible. The establishment of Boursa Kuwait marked the first step in privatizing the Kuwaiti Stock Exchange, which was founded in 1983. 

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