Boursa Kuwait has announced that its board of directors have unanimously approved the formation of the new board, appointing Bader Nasser Al-Kharafi as Chairman of the Board for a three-year term spanning 2025 to 2027. 

 

Bader Abdullah Al-Kandari was named Vice Chairman for the same period.

 

The board extended its appreciation to outgoing Chairman Hamad Mishari Al-Humaidhi, the first Chairman to lead Boursa Kuwait following the completion of the first phase of its privatisation, praising his outstanding leadership and pivotal role in transforming Boursa Kuwait into a cornerstone of the national economy and a success story within the country’s financial landscape. 

 

His tenure was marked by several milestone achievements, most notably the company’s highly successful initial public offering, which was oversubscribed by more than 850%, followed by its listing in the “Premier” Market.

 

Regarded as one of Kuwait’s prominent business leaders, Al-Kharafi brings over 20 years of experience across the financial, banking, industrial, and telecommunications sectors. He has been a member of Boursa Kuwait’s Board of Directors since its privatisation in 2019, during which he chaired the Executive Committee and held a seat on the Nominations and Remuneration Committee — roles that enabled him to play a central role in shaping the company’s strategic direction and reinforcing its governance framework.

 

Al-Kharafi confirmed Boursa Kuwait’s commitment to fostering a competitive investment environment, emphasising the company’s determination to introduce new financial products and instruments as well as enhance governance and transparency to align with global best practices.

 

“We are preparing for the launch of exchange-traded funds (ETFs) and a fixed-income trading platform, which will include bonds and sukuk, in the second quarter of the year. We are also planning to implement the Central Counterparty (CCP) system and lay the groundwork for the introduction of financial derivatives in the future. These initiatives will undoubtedly enhance the market and create new investment opportunities for a wider range of investors,” he stated. 

 

In addition to his new role at Boursa Kuwait, Al-Kharafi is the Vice Chairman and Chief Executive Officer of the Mobile Telecommunications Company (Zain Group). He is also a board member at several prominent regional and international financial and industrial institutions, including Vice Chairman of National Investments Company (NIC), Vice Chairman of Gulf Cable & Electrical Industries and Vice Chairman of Diamond International Motors Company. 

 

Additionally, he is a member of the Board of Directors of Foulath Holding in Bahrain, the Middle East Advisory of UK-based Coutts & Co., the Kuwait-British Friendship Society and the United Nations High Commission for Refugees (UNHCR)’s Sustainability Board for the Middle East and North Africa.  - TradeArabia News Service