The Capital Markets Authority (CMA) has announced that it has granted EFG Hermes IFA Brokerage Company preliminary approval to obtain a license to operate as a Qualified Securities Broker registered on Boursa Kuwait.

According to the official decision, the preliminary approval is valid for six months—renewable—and is effective from July 6, 2025, until January 5, 2026, during which time the company must fulfill all regulatory standards and requirements set by the Authority.

The CMA stated that final approval will be granted upon completion of all necessary requirements. The current license will then be amended to:

Revoke the activity of “Registered Securities Broker”
Add the activity of “Qualified Registered Securities Broker”
Additionally, the job titles of registered representatives will be updated to:

“Representative of a Qualified Registered Securities Broker”, in accordance with the CMA’s formal procedures and regulations.