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Gulf markets · Kuwait City

Kuwait

Kuwait’s state reserves are managed by the Kuwait Investment Authority, which traces its roots to 1953 and describes itself as the oldest sovereign wealth fund in the world. It manages the State’s General Reserve and the Future Generations Fund, and its founding law prohibits public disclosure of information about its work.

Sovereign and state investors

Kuwait Investment Authority (KIA)

Created in 1982 by Law No. 47 as an autonomous governmental body, KIA traces its roots to the Kuwait Investment Board, established in 1953. It manages the State’s General Reserve, the Future Generations Fund and any other funds entrusted to it by the Minister of Finance, with the mission of achieving a long-term investment return that provides an alternative to oil reserves.

Reporting and disclosure

KIA does not publish its assets under management: Law No. 47 of 1982 prohibits public disclosure of information about its work. KIA states that it reports its annual performance directly to the Government and to the National Assembly.

Future Generations Fund

Created by Amiri decree in 1976 as Kuwait’s intergenerational savings fund, and originally allocated a minimum of 10% of the State’s annual revenues. In September 2026 the Kuwait Times reported a decree-law permitting the government to borrow from the fund with Cabinet approval, with borrowing in any fiscal year capped at the fund’s average returns and total loans at 10% of its assets.

Kuwait Investment Office (KIO)

KIA’s London office. It began as the Kuwait Investment Board in February 1953, was reorganised as the KIO in 1965, and manages the portion of the Future Generations Fund entrusted to it.

Family offices and private wealth

The public sources used for this page include no official statistics on family offices or private wealth in Kuwait, and no dedicated family office regime, so we do not describe this segment here.

Institutional investors

Public Institution for Social Security (PIFSS)

Established under Amiri Decree-Law No. 61 of 1976. Its investment sector manages the PIFSS fund with the aim of achieving a return equal to the discount rate of its pension liabilities, investing across equities, fixed income and alternative investments.

Financial centres and regulators

Central Bank of Kuwait (CBK)

Established by Law No. 32 of 1968. Its objectives include maintaining the relative stability of the Kuwaiti dinar and supervising the State’s banking system.

Capital Markets Authority (CMA)

Established under Law No. 7 of 2010, it regulates securities activities in Kuwait, including disclosure and investor protection, and is headquartered in Kuwait City.

Boursa Kuwait

Set up by the CMA in 2014, it has operated the stock exchange since April 2016 and was licensed by the CMA as a securities exchange in October 2016.

National agenda

Kuwait Vision 2035, “New Kuwait”, aims to make Kuwait a financial and trade hub with the private sector leading the economy. It rests on seven pillars, including a diverse and sustainable economy.

Sharia-compliant finance

Islamic banks hold about half of Kuwait’s banking assets. Central Bank of Kuwait data show assets of KD 53,045.5 million for local Islamic banks in May 2026, out of KD 104,919.1 million for all local banks.

Working week and time zone

Working week
Sunday to Thursday, the business and trading days of Boursa Kuwait.
Time zone
UTC+3 (Arabia Standard Time), Kuwait City; no daylight saving time.

Preparing a raise in Kuwait

Boursa Kuwait’s business days run Sunday to Thursday on UTC+3. A process that also involves the UAE or Europe therefore has Monday to Thursday as its shared working window.

Securities activities in Kuwait are regulated by the CMA, so the route by which any raise is presented to investors there is a question for legal counsel before materials are circulated.

Artane Partners has no affiliation with, and is not endorsed by, any institution named on this page.

Sources

Each figure is given as its source published it, with the date stated on this page. All sources were accessed on 23 October 2026.

Considering a raise into Gulf capital?

Artane Partners has senior coverage across Riyadh, Abu Dhabi, Dubai, Doha and Kuwait City.

If you are preparing a raise and would like to discuss Kuwait, we would be glad to hear from you.

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