KUWAIT: A group photograph of the debt capital market conference in Kuwait.
KUWAIT: A group photograph of the debt capital market conference in Kuwait.

KUWAIT: KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region, and winner of the prestigious Kuwait Asset Manager of the Year Award 2015, hosted the debt capital market conference in Kuwait in partnership with The Gulf Bond and Sukuk Association (GBSA). The event coincided with the introduction of new by-laws by Kuwait’s Capital Markets Authority (CMA) directed towards enhancing the rate of bonds and sukuk issuance.

Faisal Sarkhou, Chief Executive Officer of KAMCO, said, “Hosting and participating in the ‘Debt Capital Market Opportunities for Corporates’ conference reflects our role as one of the leading investment companies in the local and regional markets. Shedding the light on important economic issues helps map out the attractive investment opportunities within the local market. It is our duty to support the local market by organizing professional conferences and seminars that bring together an array of perspectives from specialized analysts to international experts.”

Sarkhou delivered the opening speech at the conference, emphasizing the importance of debt capital market opportunities and Islamic bonds. He also highlighted the ways of strengthening the local framework and regulations related to the issuance of bonds and sukuk in accordance with the CMA’s new by-laws.

The President of the GBSA, Michael Grifferty said, “Only a few companies have taken advantage of bond/sukuk markets to extend their liability profiles and diversify their investor base. These new rules provide considerably more certainty for the process and improve the prospects for companies to fund in the capital market. We salute the hard work of the CMA and its willingness to consult the market in finalizing these regulations. We are proud to have contributed to their development.”

Ananthakrishnan Prasad, Deputy Division Chief in the Middle East and Central Asia Department at the International Monetary Fund, commended the discussion with an overview of the economic outlook in the GCC region.

Senior Vice President and Head of Investment Banking at KAMCO, Omar Zaineddine led the panel discussion on bonds and sukuk transactions featuring industry experts. A second lively debate led by Alex Roussos, partner at Dentons concluded the event. The discussion shed light on current investor preferences and brought about the interesting views of speakers from Interactive Data Corporation and Euroclear who deliberated the resources available to improve transparency and attract investors to the Kuwaiti market.