Opinion Poll for the Third Strategic Plan for the Capital Markets Authority (2023/2024 – 2026/2027)

Kuwait, June 11, 2022 - The Capital Markets Authority launched the preparation work for the CMA’s third strategy on 30/03/2022, which will cover the future directions of the CMA for the next four years (2023/2024 until 2026/2027). An internal team of specialized CMA cadres was formed to implement the process of preparing and designing the third strategy of the CMA, lead by the Strategies Office, until the end of March 2023, in order to start implementing the third strategy as soon as the current strategy of the CMA ends.
In completion of the efforts of the CMA in working on the first stages of preparing its third strategy, which includes internal analysis and identifying strategic ambitions, in order to form the strategic ambitions of the CMA as a whole, and frame it clearly and realistically. The CMA contacted stakeholders to identify their needs that they see important and that require the contribution of the CMA and the Capital Markets Academy in the period from 2023 to 2027, whilst requesting any other comments or suggestions in order to add them in the context of CMA’s next strategy in the mentioned period.
On May 29, 2022, the CMA published a general opinion poll on its website, notifying all registrants in the CMA's electronic portal, listed companies in the Main Market and brokerage companies to participate in the survey, the survey was also announced on the CMA's home page and the its accounts on social media.
Moreover, various authorities related to the works of the CMA were contacted, most important of which are the Ministry of Commerce and Industry, the Central Bank of Kuwait, Boursa Kuwait Securities Exchange Company and Kuwait Clearing Company, in addition to other government agencies for this purpose, such as the Kuwait Anti Corruption Authority, Kuwait Financial Intelligence Unit, Kuwait Direct Investment Promotion Authority and Insurance Regulatory Unit, in addition to local authorities such as the Union of Investment Companies, Kuwait Economic Society, the Financial Analysts Association, Kuwait University, and Kuwait Chamber of Commerce and Industry to seek their views in this regard.
The efforts of the CMA’s team in the internal analysis process at the CMA extended by beginning to list the guidelines and aspirations of the members of the Board of Commissioners, heads of its sectors and all offices, departments and organizational units. The survey responses from both external and internal parties will be analyzed in order to reach the strategic ambitions of the CMA in a unified manner and articulate it in a clear and realistic way.
Note that after completing the opinion poll stage, which is followed by the internal analysis stage, defining strategic ambitions, analyzing the current situation and environmental survey, the agenda of deviations will begin to be defined. This forms the basis for determining the factors of the strategic plan, including vision, mission, values, pillars, strategic objectives, initiatives and indicators, through the preparation and in detail through the operational plan. The CMA also aims, through its efforts in the field of strategic planning, to work with the Balanced Scorecard that was designed during the development of the strategic planning methodology.
This is as a result of CMA's belief in the importance of the planning process to direct its resources in order to achieve efficiency and effectiveness, and fulfill its role by supervising the activities of the capital markets in the State of Kuwait. This is due to its direct impact on the development of the national economy and achieving the vision of the State of Kuwait in the economic aspect. It should be noted in this context that the CMA has adopted, during the past strategy, many practices and developed trends for the local capital market, and the importance of the CMA’s role in the development of the national economy, while emphasizing the principle of the importance of arrangement with the state’s plans as one of the main sources of guidance in formulating and defining strategic directions, as the CMA's strategic plans are considered a link for continuity in achieving impact and keeping pace with and adopting more practices and trends that will have an impact on developing the scope, attractiveness and competitiveness of the local market.
Survey link:
https://www.cma.gov.kw/ar/web/cma/strategies-survey-content