The Kuwait Stock Exchange Company reported today (Sunday) that its nine-month period ending on September 30, 2022, net profits of 15. 1 million Kuwaiti dinars (roughly 45. 7 million US dollars), an increase of 29.2% from 11. 7 million dinars (roughly 35. 4 million dollars) for the same period in 2021.
In a statement to the Kuwait Stock Exchange today, Sunday, the company’s chairman, Hamad Al-Humaidhi, said that the company’s strategy and efforts to develop the market with international standards continue to pay off because the stock market is a crucial pillar in supporting the national economy and the country’s development plan.
Al-Humaidhi continued by saying that during this challenging time, which was marred by several geopolitical tensions throughout the world, these efforts helped to solidify the company’s position as a top stock exchange at the level of the Middle East area and an effective member of Kuwait.
He claimed that during the past few years, the Kuwait Stock Exchange has emerged from the renowned enterprises in Kuwait and the pioneers of the Kuwaiti financial scene to become a prominent organisation at the regional level that adheres to the finest international standards and practises.
According to the statement, the CEO of the business, Mohamed Al-Osaimi, stated that efforts to improve the Kuwaiti money market’s allure and to achieve significant results that inspire local, regional, and international investors are emerging as a result of the strategy set by the Kuwait Stock Exchange.
He noted that throughout the first nine months of this year, approximately 17 percent of commerce was conducted abroad. The best indication of the growing confidence in the Kuwaiti money market is the percentage of overall trading on the market.
The Kuwait Stock Exchange Company, which was founded in April 2014, is in charge of overseeing the activities of the Kuwaiti stock market.
The Kuwait Stock Exchange has supported the Capital Markets Authority, exporting organisations, investors, and all other interested parties since 2016. It has also paid for the process of communication, growth, and innovation in the stock market.
In nine months, the Kuwait Stock Exchange makes 45.7 million dollars.
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