KUWAIT CITY, March 20: Reinforcing the credibility of disclosed information, Boursa Kuwait announced today its partnership with the Public Authority for Civil Information (PACI), to offer the latest Electronic Signature feature, which acts as an authentication system for the information provided by listed companies on the Company Information Portal (CIP). The partnership was announced during a press conference held at the Boursa Kuwait premises, on March 20, where both parties signed the partnership agreement to make it official.
Commenting on this new system, Boursa Kuwait Vice-Chairman and CEO, Khaled AbdulRazzaq Al-Khalid said: “When we initially launched the CIP, our main objective was to capitalize on the importance of providing stakeholders with a credible, transparent and accessible information platform. Building on that, it was equally significant that we maintained a secure and authenticated gateway for that information, hence our partnership with PACI to offer the Electronic Authentication Gateway for Civil ID’s verification”. Al-Khalid added: “We chose PACI as our partner to provide secured identity authentication as they are one of the few ISO 27001 certified organizations in Kuwait. The fact that PACI is the sole authority in Kuwait that issues the National Civil IDs for all legal residents, along with its secured authentication process, gives it the unique qualification that Boursa Kuwait needed to implement CIP authentication”.
Boursa Kuwait designed and launched CIP with the aim of providing a credible and up to date information platform for all listed companies, which can be used as a reference site by all stakeholders. The Portal requires listed companies to upload news regarding disclosure announcements, their profile page and their financial statements with full authority to make regular updates. “Boursa Kuwait seeks partnerships that add value to its long terms vision and strategy, and supports its day to day operational objectives. We thank PACI for their cooperation and we look forward to a productive and longstanding partnership that is mutually beneficial”; Al-Khalid added. The Electronic Signature system, provided by PACI, requires the authorized representatives from listed companies in Boursa Kuwait to visit PACI’s offices to activate the electronic signature. Therefore, it is crucial that the companies update their information at PACI