EFG Hermes, the leading investment bank in emerging and frontier markets, in collaboration with Boursa Kuwait, the oldest financial market in the Golf Cooperation Council (GCC), concluded the virtual investment conference for its eighth institutional day entitled “The Stars Converge to Receive the latest emerging markets ”, over four days during the period From 23 May to 26 May.
This virtual event was held with the participation of representatives of the executive management of approximately 13 Kuwaiti companies, as well as more than 175 international investors from more than 95 of the most prominent global institutions with a total assets under management of $ 2 trillion. The conference aims to provide an opportunity for the investment community to exchange visions and ideas on some promising opportunities in the Kuwaiti market.
The state of Kuwait continues to reap the benefits of upgrading the stock market indices during 2019-2020, as it is the most followed index in emerging markets, which has attracted the attention of investment fund managers to the Kuwait market and led to the growth of assets under management with nearly $ 2 trillion. The “first” market index of Boursa Kuwait also achieved a total annual return in US dollars of 17% over the past five years, which outperformed the annual return of the MSCI Emerging Markets Index of 6%..
Noura Al-Abdulkarim, Head of Markets at Boursa Kuwait, said at the event: “Boursa Kuwait continues its efforts to provide new partnership opportunities for investors and exporters through its eighth institutional day, in its virtual image, presented by “EFG is organized. Hermes, to reflect the role of the Stock Exchange in contributing to the growth of the market and the national economy.”
In turn, Mohammed Obaid, Co-CEO of Investment Bank at EFG Hermes, expressed his congratulations on holding this virtual conference in collaboration with strategic partner Boursa Kuwait, which is a constantly evolving financial market whose value is below the major global stock exchanges that deserve to be followed. He stressed that emerging markets are the best choice for investors during the current period, given expectations that the growth of the world economy will slow in 2022, driven by a number of other factors, including economic reform measures and attractive stock valuations. Obaid also pointed out that the attention of investors in the Kuwaiti financial market is due to the clear recovery of consumer patterns after the complete closure during the year 2020 against the background of the spread of the Corona virus, and the possible initial offers during the coming period, in addition to the rise in oil prices. He added that the initiatives taken by the government to direct further market reforms to improve liquidity levels, such as the addition of margin trading, have also contributed to the consolidation of the leading position of the Kuwaiti market.
On the other hand, Ahmed Wali, head of the securities brokerage sector at EFG Hermes, pointed to the growth of trading volume in Boursa Kuwait in light of the improvement in the appetite of individual investors and the attention of foreign investors for that promising market. , where the total value of trade has risen to $ 210 million since the beginning of the year. In 2022, compared to $ 179 million in 2021 and $ 144 million in 2020. Wali added that the current record rise in oil prices and the removal of Russia from major emerging market indices has led to an increase in foreign interest in the market, with total purchases from foreign investors reaching $ 576 million.During the first quarter of 2022, as well as $ 4.2 billion over the past three years. Wali emphasized that Boursa Kuwait has transformed into one of the leading regional stock exchanges accepting the highest international standards, as well as its firm belief in the role of the private sector in promoting economic development in the country, and expects more strong results during the coming period.
The series of institutional days for Boursa Kuwait aims to market the companies listed on the Kuwaiti stock market to the investment community and the investment opportunities it offers, through the meeting of listed Kuwaiti companies with major investment and asset management companies worldwide. strength emphasized. and business strategy of these companies to provide a deeper insight. On the benefits of investing in the Kuwaiti capital market. Since its inception, Boursa Kuwait has worked to establish a reliable stock market based on credibility and transparency, creating a flexible financial market with liquidity, and an advanced trading platform, in addition to developing a comprehensive set of reforms and improvements that it has risen to the highest regional and international levels. The company has also implemented many market reforms in recent years and introduced many products as part of its comprehensive plans to develop the market.
The convening of this conference comes in the wake of a series of successful virtual conferences organized by EFG Hermes since the outbreak of the Corona virus, which takes advantage of its groundbreaking innovative platform to provide an opportunity for the international investment community to with representatives of large companies and institutions to exchange opinions and views and benefit from the opinions of experts on the most important topics of interest Capital markets on the world stage.
About EFG Hermes Holding
EFG Hermes Holdings (code HRHO.CA: EGX; EFGD: LSE) with a direct presence in 13 countries across four continents, where the company originated in the Egyptian market and expanded over 38 years of continuous performance to transform from an investment bank in the Middle East region to a comprehensive bank in Egypt and the leading investment bank in emerging and border markets. The company has a professional team capable of providing a unique package of financial and investment services, ranging from promotion, underwriting, asset management, stockbroking, research and direct investment in emerging and frontier markets. In the Egyptian market, the company has a leading platform in non-bank financing services, covering various activities including microfinance, financial leasing and factorization, in addition to buying now and paying for services later (BNPL) and real estate financing and insurance.
By acquiring a majority stake in aiBANKIt also allowed the company to offer banking products and services.
The three business sectors, Investment Bank, Non-Bank Finance and Commercial Bank, have contributed to consolidating the leading position unique to the company and improving its ability to launch more financial products and services, thus contributing to providing a comprehensive package of services to meet the needs of its customers, individuals and companies of all sizes, and access to new customers.
We are proud to be in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Amman | Jordaan | Pakistan | United Kingdom | Kenya | USA | Bangladesh | Nigeria | Vietnam
EFG Hermes Holdings may have referred in this statement to future matters, including, for example, management’s expectations, strategy, objectives, growth opportunities and future indicators of various activities. These statements about the future are not seen as real facts, but rather give the group’s vision for the future, and many of these expectations, in terms of their nature, are uncertain and beyond the company’s control, and these include – for example, but not limited to – fluctuations in the financial markets and the actions of current and potential competitors and the circumstances The general economic and the consequences arising from the local currency position and the current and future legislation and various regulations. Consequently, the reader should be careful not to rely excessively on statements about the future that are correct on the date of publication..
Kuwait Stock Exchange
Boursa Kuwait was established by the Capital Markets Authority in 2014 to replace the Kuwaiti Stock Exchange. Since then, Boursa Kuwait has worked to establish a credible stock market based on credibility and transparency, to create a flexible financial market that enjoys liquidity, and an advanced trading platform, with a sustainable corporate strategy in line with value creation. for long-term stakeholders economically, socially and environmentally.
The company has implemented many market reforms as part of its comprehensive plans to promote them at various stages, and has succeeded in introducing innovative investment instruments, improving the level of transparency and restructuring the market with the aim of increasing liquidity in it. and its competitiveness, based on the strategy emanating from its mission, which focuses on developing market to keep pace with international standards. The company’s development and improvement efforts also helped to reclassify Kuwait’s market as an “emerging market” among the top three world indices, thus strengthening the country’s position as a leading local financial center.
Boursa Kuwait is itself listed in the “first market”, and it is one of the Kuwaiti government agencies that has been successfully privatized.