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Saturday, May 25, 2024

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Capital Markets Authority’s Board of Commissioners amends bylaws related to controls of sustainable finance

KUWAIT: Kuwait’s Capital Markets Authority (CMA)’s Board of Commissioners has introduced a package of legislative additions and amendments related to the controls of sustainable finance, a statement read.

The additions and amendments to the modules of the Executive Bylaws of Law No 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments include the addition of the definitions of ‘Sustainability’ and ‘Sustainable Fund’ in Module 1, the addition of optional sustainability factors in the risk management systems of the licensed person in Module 6, the addition of articles that determine the sustainability report regulations for listed companies in Module 12, the addition of the ‘Sustainable Fund’ and setting the investment controls of this type of fund in Module 13 and the inclusion of the sustainability issues in the role of the board of directors and the company’s comprehensive strategy in Module 15.

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