April 16, 2021

Boubyan Capital: The share of the “stock exchange” has become Sharia compliant

Boubyan Capital revealed that the Kuwait Stock Exchange will be included in the list of shares of companies that comply with the provisions of Islamic Sharia, as of today.

The company has put the stock exchange under follow-up during the last period, as it has become one of the acceptable shares for investment and trading in accordance with the controls set for the company’s clients.

Review the program in the presence of Al-Fulaij

This classification will be subject to a quarterly review to ensure that the stock continues to comply with Islamic Sharia law, while the Kuwait Stock Exchange is interested in organizing its business in line with the local, regional and international investment circles, especially since the company’s share is now one of the main stocks in the components of the first market.

According to official reports, the percentage of foreign shareholders in the stock exchange company has reached close to 8 percent of its capital, while the majority of the capital shares belong to leading entities and groups represented in each of the Al-Khair National Company for Shares and Real Estate (the National Investments Company and the National Gate Company for General Trading and Contracting). With a stake of 15.7%, Arzan Financial Group Company for Financing and Investment with a 14% stake, Gulf Cables and Electrical Industries Company with 14.4%, and the General Organization for Social Insurance with 6%.

The stock exchange company achieved a package of achievements that were reflected in its financial position well during the last period, including 56 percent growth in revenues during 2020.

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