The National Assembly and Kuwait Stock Exchange (KSE) are working together to address the continuing collapse in the bourse, Deputy Premier and Minister of Commerce and Industry Dr. Abdulmehsen Al-Medaj stressed Wednesday.
The minister made this statement to the press at the end of a parliamentary session, called by Speaker Marzouq Al-Ghanim, to discuss the deteriorating situation of the Kuwaiti bourse.
Al-Medaj added that a group of financial experts are discussing amending KSE's laws; the government will pass these amendments to the parliament for further discussion and approval.
He noted that the government and the parliament are holding meetings and working side by side to find a solution to rescue the stock market and traders.
Meanwhile, Managing Director of Kuwait Investment authority Bader Al-Saad said at the end of the same parliamentary meeting that since funds in the national portfolio are belong to the Kuwaiti people then its investments should be "discreet and practical." The national portfolio should not engage in any risky investments to avoid being held accountable by the people, he stressed.