KAMCO and GCMA Debt Capital Market Conference
The Gulf Capital Market Association and KAMCO Highlight Debt Capital Market Opportunities at Kuwait Conference
Dubai, November 30, 2015 – The Gulf Capital Market Association (GCMA) in partnership with 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, has held a debt capital market conference in Kuwait. The conference was timed to coincide with the release by Kuwait’s Capital Markets Authority (CMA) of new by-laws meant to pave the way for more bonds and sukuk issuance.
The President of the GCMA, 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.”
Grifferty continued, “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.”
Mr. 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.”
Mr. 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 debate was kicked off by Ananthakrishnan Prasad, Deputy Division Chief in the Middle East and Central Asia Department at the International Monetary Fund who assessed the GCC region economic outlook, and was followed by two panel discussions.
A panel discussion on bond and sukuk transactions featuring leading corporate and legal experts was led by Omar Zaineddine, Senior Vice President and Head of Investment Banking at KAMCO. Alex Roussos, Partner, Dentons, led a buy-side panel that shed light on current investor preferences. Speakers from Interactive Data Corporation and Euroclear discussed resources available to improve transparency and attract investors to the Kuwait market.
The GCMA’s working groups and National Chapters bring together the thought leaders of the regional credit markets to create a more collective voice on key issues affecting the industry.
NOTE FOR EDITORS:
The Gulf Capital Market Association
The Gulf Capital Market Association (GCMA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GCMA is involved in all major matters concerning development of bond markets in the region.
KAMCO Investment Company is a premier investment company based in Kuwait and is regulated by the Capital Markets Authority with one of the largest private sector AUMs in the region.
Established in 1998 and listed on the Kuwait Stock Exchange (KSE) in 2003, KAMCO is a subsidiary of United Gulf Bank (UGB) and is the asset management and investment banking arm of Kuwait Projects Holding Company (KIPCO).
It has become a leading regional company within its sector offering innovative products and services to its clients, holding over USD 11 billion of client AUM and has successfully completed over 82-investment banking transactions worth over USD 12 billion as of 30 September 2015.
With almost two decades of experience in conducting business in Kuwait’s dynamic investment industry, KAMCO has successfully established a robust reputation for solidity, characterized by its prudent, conservative investment philosophy and spirit of transparency, which has consistently commanded the goodwill of a wide patron-base.
The company will further aggressively build upon its core competencies to offer MENAwide investment management consultancy and services, backed by its proven track record in stringent risk mitigation, investment product innovation, and a cautious investment approach towards local, regional and international capital markets.