Shares off limits to expatsWell who's crazy enough to buy shares on the KSE anyway, unless you're participating in insider trading like everyone else! This country is a joke.
KUWAIT: The Ministry of Trade and Industry issued a legislation prohibiting expatriates from buying or selling shares listed at the Kuwait Stock Exchange. They said buying and selling shares listed on KSE could only be done by Kuwaiti citizens at the moment. A number of expatriates however expressed their regret over the decision as their interests and investments worth millions of dinars were frozen in the process. Officials meanwhile said that the decision had been taken a long time ago but was made effective just last Tuesday.
16.8.07
Shares off limits to Expats!
According to today's Kuwait Times....
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Markets worldwide try to attract more and more people. It helps the markets be successful and have increased volume and greater efficency. Our market is doing the complete opposite.
It seems that "transparency" is a bad word. In my opinion Kuwait is becoming more isolationist, protectionist and less open to the rest of the world. What I can't understand is why it would want to do this? Why would a country seek to follow the Saudi or Iranian economic model? Is this the type of progress Kuwait wants to make?
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