Kuwait city: Kuwait's Capital Markets Authority (CMA) has granted Goldman Sachs Group a permit to operate as an investment adviser, citing that the US-based global financial institution has met "regulatory and procedural" prerequisites.
According to Kuwait News Agency, the move is part of efforts to enhance the appeal of the Kuwaiti market by providing an environment that allows permitted firms to engage in financial activities. The Kuwaiti market regulator described Goldman Sachs Group's entry into the national market as a strategic step towards transforming Kuwait into a regional financial hub.
The statement added that Goldman Sachs Group's presence in the Kuwaiti market offers an opportunity to leverage global expertise for greater market preparedness. These goals are considered integral components of the "Kuwait Vision 2035."
Additionally, the establishment of ties with reputable financial institutions like Goldman Sachs Group is expected to allow the national workforce to further develop their skills.