What is KFMA mission & core activities?
We are a leading association, representing the interests of the financial markets by actively promoting the educational and professional interests of our members and the market. Our members are professionals who work in the foreign exchange, money market, capital market divisions of local financial institutions.

We promote professional educational system to our members on the wholesale financial markets, based on the up-to-date information receiving from the local and global sources. We also supply educational programs/seminars and organizing other informative meetings and events. Our major aim is to educate and qualify our members to appear for the ACI examinations, which is to provide benchmarks for dealers in the financial markets. Our association is currently offering eight / ten training courses and seminars a year.

Who do you collaborate with to accomplish KFMA goals?
We are affiliated to ACI – The Financial Markets Association, based in Paris and Interarab Cambist Association (ICA).

Who are your main clients in terms of training and education programs?
KFMA has a membership of 31 financial institutions, which includes all the banks and the largest investment companies in Kuwait.

The largest and most well-known financial centers in the world are in Europe and the U.S., where our readers are. How do you want to exchange knowledge, expertise with the top financial associations/centers in the world through our magazine?

Kuwait Financial Market Association (KFMA) in part of its activity is introducing the participants of the International Financial Center in Kuwait by arranging presentations and seminars for the local market which in return is beneficial for the visitor and the Kuwaiti participant. We are doing this service to enable us to enhance the knowledge of our local market and introduce them to the participants of the International Financial markets.

You are a member of the France-Based ACI-The Financial Markets Association. What role does KFMA play in this association? - How do you want this role to be enhanced?
KFMA is a very active participant in the ACI and the voting rights is higher than any large financial centers. We are in close communiqué in every ACI conference. We already suggested to them the establishment of a sub region for the G.C.C. area to enable us to concentrate with ACI in training and developing the participants of this region since the region now represents Africa and Middle East and this needs to be looked at. ACI is looking at our suggestion. We are an active member of Inter Arab Cambiste Association. Kuwait hosted the 31st ICA Congress 2005 with participants from 36 countries which was the talk of the region especially with the title of “Kuwait the place to exchange ideas”. We in Kuwait managed to form with our colleagues in the G.C.C. the GCC Financial Market Association which will be situated in Bahrain and this again will take the responsibility of training and introducing all type of financial products to the Dealers, Operation Managers and Risk Managers etc. especially with the fast growth in the region.

How do you assess the current performance of the Kuwait Financial Market?
• Where are its challenges?
• How do you want this to evolve in the future?
• How can KFMA benefit from the EU/US counterparts?

KFMA is the most active FOREX internationally. We present the market with more than a dozen courses annually plus seminars presented by International Financial Institutions. During the last 3 years we trained more than 1100 individuals with our training mostly free of charge. We not only target the Banking and investment sector but also the local stock exchange participants.

WE are looking to expand our training activity and direct it towards the GCC Financial Markets Association to prepare the locals for this swift change internationally and locally (they definitely need it !).

If our markets keep its speed and direction, then our colleagues in EU/US will be benefiting from us since we are experiencing a lot of new foreign banks in the region with huge wealth built up due to the high oil prices and by cooperating together in bringing the gulf region participants at high level of professionalism then we all be winners.

Personal message to your interest groups locally and internationally?
Dear all,
It needs more than a will to contribute to any activity. We in KFMA are looking forward to participate fully in bringing Kuwait and the region together to meet the challenge of this revolving markets. It is too fast and we need to catch up (we might not be as fast as the Euro catching the USD) but we need to start somewhere and without the participation of every entity which have an interest, I think it will be difficult for all to achieve our targets.