The board members also approved the appointment of Bader Abdullah Al-Kandari as Vice Chairman for the same period.

Al-Kharafi has more than 20 years of experience in 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.

In his role, Al-Kharafi will lead Boursa Kuwait’s ambitious vision and growth strategy, focusing on improving the Kuwaiti capital market’s efficiency and strengthening its investment appeal.

Commenting on his appointment as the Chairman, Al-Kharafi said: “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,” he added.

The new official also rolled out plans to launch exchange-traded funds (ETFs) and a fixed-income trading platform, which will include bonds and sukuk, in the second quarter (Q2) of 2025.

The plans also include applying the Central Counterparty (CCP) system and the introduction of financial derivatives in the future.

He stated: “These initiatives will undoubtedly enhance the market and create new investment opportunities for a wider range of investors.”