KUWAIT CITY, November 10: The Kuwait Stock Exchange sponsored and hosted CFA Institute’s Research Challenge, organized in collaboration with CFA Society Kuwait. This competition offers students from participating colleges a unique opportunity to embark on a journey into the world of finance. Through comprehensive training and mentoring, they gain valuable skills in financial analysis and professional conduct.

The research challenge offers students from Kuwait University, Gulf University for Science and Technology, American University of the Middle East and American University in Kuwait to apply their academic knowledge to real-world scenarios. Participants will conduct an in-depth analysis of companies listed on the Kuwaiti capital market and present their recommendations to a panel of experienced professionals. It enables participants to gather and analyze data, obtain and manage financial resources, and improve their problem-solving skills to address the challenges these companies face. This year, Kuwait Telecommunications Company (stc) was at the center of the challenge.

Commenting on the strategic partnership with CFA Society Kuwait and CFA Institute, Boursa Kuwait’s Senior Director of Marketing and Communications, Mr. Naser Meshari Al-Sanousi, said: “Boursa Kuwait values ​​its strategic partnership with CFA Society Kuwait and CFA Institute and we are proud to we are the first strategic partner of the Kuwait Research Challenge. Boursa Kuwait has been a consistent supporter of the society’s initiatives and events in 2018, united by a shared commitment to promote financial literacy in Kuwait and empower individuals, from students and academics to employees and executives, to invest with confidence and perspective.”

“The Kuwait Stock Exchange remains committed to building and strengthening a robust, efficient and transparent capital market. I would like to wish all the participating teams the best of luck in this competition,” he added.

This year’s research challenge will take place at the iconic Boursa Kuwait building, immersing students in an inspiring environment designed to ignite their competitive spirit. This hands-on learning experience, hosted in such a symbolic location, underscores Boursa Kuwait’s commitment to motivating participants and inspiring the next generation of capital market leaders in the Kuwaiti financial sector. Boursa Kuwait will also be represented on the jury for this year’s challenge.

Boursa Kuwait’s strategic partnership with CFA Society Kuwait and CFA Institute is a cornerstone of its commitment to making a significant impact on the communities it serves. This collaboration is an integral part of Boursa Kuwait’s corporate sustainability strategy, which aims to build an educated, knowledgeable and skilled generation ready to face future challenges. By raising the level of knowledge and developing expertise within the Kuwaiti community, Boursa Kuwait invests in the future of the financial sector. In addition, this initiative aligns with the United Nations Sustainable Development Goals, particularly Goal 4 – Quality Education – and Goal 17 – Partnership for the Goals.

The President of CFA Society, Ms. Amina Abutalef, lauded Boursa Kuwait’s support for the Society’s initiatives and programs, saying, “CFA Society Kuwait is proud of its long-term collaboration with Boursa Kuwait and is proud to have the exchange as its first strategic partner. of the Kuwait Research Challenge. Since its inception, the Society has sought to raise the standards of professionalism in the investment sector in Kuwait by supporting the continuing education and professional development of industry practitioners through specialized educational programs, organizing conferences, supporting CFA charter holders and encouraging collaboration among members. It is also committed to promoting ethical practices that contribute to the development of the Kuwaiti capital market and all stakeholders.”

In October 2018, Boursa Kuwait signed a memorandum of understanding (MoU) with CFA Society Kuwait, which aims to provide educational content on investment fundamentals through Boursa Academy Online, the digital educational portal developed by Boursa Kuwait, which aims to improve financial literacy among novice and professional investors in Kuwait.

The MoU allows both organizations to combine their financial services expertise and provide accessible content to those looking to learn about investing, providing resources to help investors evaluate opportunities and make informed investment decisions, such as a glossary of financial terms, definitions of financial terms. tools, financial planning guidance, an introduction to investment strategies and methods, and educational materials including videos, infographics and online presentations.

This year’s subject company is Kuwait Telecommunications Company (stc), listed on Boursa Kuwait and included in its “Premier” index, which is comprised of a selection of top companies with high liquidity and medium to large market capitalization.

To start the Challenge, stc coordinated with the CFA Society for its participation in this initiative, providing the contestants with the necessary information to familiarize themselves with the telecommunications company. stc’s Investor Relations team also participated in an introductory session for participating teams, which included a comprehensive presentation highlighting the company’s key activities, financial position and financial data. The presentation concluded with an interactive question-and-answer session, allowing participating teams to ask questions about various financial and operational aspects of the company.

General Manager of Corporate Communications at Kuwait Telecommunications Company (stc), Ms. Danah AlJasem, welcomed the selection of stc as the subject of this year’s research challenge, stating: “stc believes wholeheartedly in empowering future generations and our selection as the subject of the competition from this year. The research challenge is aligned with the company’s strategic goals and objectives under the umbrella of the upgrade education initiative. The company plays an active and continuous role in supporting educational initiatives aimed at empowering Kuwaiti youth. I would like to thank CFA Society and Kuwait Boursa for organizing and hosting the Research Challenge and wish the teams participating in this competition the best of luck. stc continues to work closely with its public and private sector partners to pave the way for a brighter and more sustainable future for Kuwait.”

Kuwait Telecommunications Company (stc) is a company with shareholders in Kuwait, established by Amiri Decree no. 187 on July 22, 2008, to operate and manage the third GSM mobile network in the State of Kuwait in accordance with Law no. 2 of 2007. A leader in the telecommunications industry and a subsidiary of the stc group, the company provides innovative services and platforms that enable digital transformation in the region. The company was listed on the Kuwait Stock Exchange in December 2014 with a paid-up capital of KD 50 million, which was increased to KD 99.9 million in 2022 after a 100% bonus share distribution to shareholders in 2022.

Boursa Kuwait’s corporate sustainability strategy involves ensuring that initiatives are implemented and aligned with the company’s corporate social responsibility (CSR), industry best practice standards and investor expectations, creating strong and sustainable partnerships that ultimately achieve success and allow Boursa Kuwait to leverage the capabilities and strengths of other companies or organizations that have experience in different fields and the integration of sustainability efforts with the company’s culture, to achieve longevity and the ongoing impact that is continued and instilled in the day-to-day operations of the stock exchange.

As part of the strategy, Boursa Kuwait launched numerous initiatives in partnership with local and international organizations, focusing on supporting non-governmental organizations and charity programs, financial literacy and capital market awareness, women’s empowerment and environmental protection.