Following its 2024 General Assembly, Boursa Kuwait announced that its Board of Directors unanimously approved the formation of the new Board, appointing Mr. Bader Nasser Al-Kharafi Chairman of the Board for a three-year term spanning 2025 to 2027. Mr. Bader Abdullah Al-Kandari was named Vice Chairman for the same period.
The Board of Directors extended its sincere thanks and appreciation to outgoing Chairman Mr. Hamad Mishari Al-Humaidhi, the first Chairman to lead Boursa Kuwait following the completion of the first phase of its privatization, 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, Mr. Bader Nasser 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 privatization 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.
His appointment as Chairman marks the beginning of a new chapter for Boursa Kuwait, defined by a forward-looking and ambitious vision as he leads the company toward greater growth and innovation with a strong focus on enhancing the Kuwaiti capital market’s efficiency and boosting its investment appeal.
Commenting on his confirmation as Chairman, Mr. Bader Nasser Al-Kharafi said, “I would like to thank the Board of Directors for their trust and confidence in confirming me to lead Boursa Kuwait at this pivotal moment in its journey. This phase demands a renewed commitment to advance the capital market and strengthen its position on both the regional and global stages. My goal is to accelerate the development of innovative products, services, and financial instruments that enhance market performance and provide added value to all stakeholders.”
“I would also like to express my deep appreciation for the noble address delivered by His Highness the Amir of the State of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah — may Allah protect him — on the occasion of the last ten days of the holy month of Ramadan. His words inspired hope and optimism for a brighter future for our beloved nation, as we look forward to a promising phase of reform, development and significant achievements for the State of Kuwait,” Al-Kharafi said.
“Guided by His Highness’s vision, Boursa Kuwait remains unwavering in its commitment to contributing to the State’s ambitious agenda, which calls for the collaborative efforts of all sectors to achieve economic diversification, strengthen financial stability and lay the foundations for a long-term, prosperous and sustainable future,” he added.
“The privatization of Boursa Kuwait has demonstrated that a clear vision and professional management can drive real transformation in the structure of financial markets and elevate the profile of the Kuwaiti capital market among local and international investors. With a highly skilled and dedicated team in place, Boursa Kuwait is well-positioned to complete its development journey, adopt global best practices and continue enhancing the overall market ecosystem,” he said.
Al-Kharafi also confirmed Boursa Kuwait’s unwavering commitment to fostering a competitive investment environment, emphasizing 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.
Al-Kharafi also expressed his appreciation for the distinguished efforts of H.E. Minister of Commerce and Industry Khalifa Abdullah Al-Ajeel, whose extensive experience in the financial sector continues to serve as a vital asset to the State of Kuwait. His previous roles as Head of the Financial Controllers Bureau and a member of the Board of Commissioners at the Capital Markets Authority enabled him to play a pivotal role in shaping the regulatory and legislative frameworks governing the Kuwaiti capital market and in implementing policies that have contributed to its growth and development.
“His Excellency’s expertise is a significant advantage to the financial sector,” Al-Kharafi said. “Boursa Kuwait remains committed to fostering a constructive and strategic partnership with him in support of the continued development and advancement of the national capital market.”
Al-Kharafi also extended his congratulations to the newly appointed Chairman and members of the Capital Markets Authority’s Council of Commissioners, expressing his best wishes for success in their new roles. He noted his confidence in the depth of expertise and experience within the new Council, emphasizing that their leadership will play a key role in reinforcing the capital market environment and driving its continued development forward.
“Boursa Kuwait greatly values its strong partnership and close collaboration with the Capital Markets Authority, which remains a cornerstone in advancing the development of the market and enhancing its attractiveness to investors. We look forward to continuing this productive cooperation as we work toward achieving our shared strategic objectives of driving sustainable growth and aligning with the highest global standards.”
Distinguished Career
In addition to his new role at Boursa Kuwait, Mr. Bader Nasser 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.
