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FAQs

1.   Could the client open a special trading account without physically attending to the Customer Service Section at the Company?

After entering all the information required to open a trading account with the accompany and providing all required documents, the client unable to appear at the Customer Service Section can send the original signed copy of the trading account to customer care department

2.   Can non-Kuwaiti investors resident in their own countries trade on Kuwait Stock Exchange (KSE) through the Company’s E-Trading System?

Non-Kuwaiti customers resident in their own countries will have to fill out an e-trading account opening application through the Company’s website and send the original copy by mail signed thereby along with his signature validation by his bank to the Company’s address. A copy of the client’s valid passport should be enclosed with this application.

3.   Is it possible to pen an e-trading account with National Investments Company (NIC) as the client has an account registered in his own name on KSE? Is it mandatory that the e-trading account number is the same as the one registered with KSE?

No law exists to prevent the investor from having several trading account numbers on KSE, either these were registered in his name with KSE or as an e-trading account with another investment company. The client’s e-trading number with NIC differs from the KSE trading account number. In case the client wishes to maintain the same number used on KSE, NIC allows clients using its trading system to trade on KSE, provided that the client’s trading account is affiliated to NIC’s brokerage company located in KSE premises and that the client utilizes the Programme service to place trading orders on KSE only rather than other services.

4.   What are the documents required to open a trading account in the Company’s name? What are the account types available with you?

The documents required to open a trading account related to the Company are as follows:

-     A copy of the Company’s Memorandum of Association extracted from Ministry of Commerce and Industry

-     A copy of the Company’s Articles of Association

-     The Company’s Commercial Register extracted from Ministry of Commerce and Industry

-     A copy of the authorized signatory document

-     A list of the names of officers authorized as the Company’s signatories

-     Copies of the valid civil identification cards (CIDs) of Kuwaitis and expatriates

-     A valid copy of the Non-Kuwaiti’s passport or any identification document

-     The Company’s account number along with a copy of the ATM card

-     The Company’s address

The account types available along with the required documents are as follows:

Personal Account:         A copy of the CID – a copy of the bank card - a copy of the passport for non-Kuwaitis

Joint Account:                A copy of the CID – a copy of the bank card - a copy of the passport for non-Kuwaitis (all the required documents should be available for all account holders)

Minor’s Account:            A copy of the CID – a copy of the bank card - a copy of the passport for non-Kuwaitis (all the required documents should be available in the minor’s account along with a copy of the CID of the guardian to confirm kinship)

5.   Can non-Kuwaiti companies Trade trough the Company’s system and what are the documents required to open the e-trading account?

Non-Kuwaiti companies with premises outside <st1:country-region w:st="on"><st1:place w:st="on">Kuwait</st1:place></st1:country-region> should provide the following documents where such documents should be validated by the ministry of foreign affairs of the approved company premises.

-     A copy of the Company’s Memorandum of Association extracted from Ministry of Commerce and Industry

-     A copy of the Company’s Articles of Association

-     The Company’s Commercial Register extracted from Ministry of Commerce

-     A copy of the authorized signatory document

-     A list of the names of officers authorized as the Company’s signatories

-     Copies of the valid passport or civil identification cards (CIDs)

-     The Company’s approved bank credit card along with the bank account

6.   Can the Company provide its clients with advice and consultancy on market surveys through specialized persons of its staff?

The system provided by the Company is a programme that allows clients place trading orders and supervise the trading turnover on KSE, where such orders and managing the portfolio are the client’s responsibility through reviewing the latest events and analyses available on the Company’s website, as displayed by several sources. The Company prevents its staff based on a resolution from providing any information or advice related to trading to avoid any problem that may arise to bring about loss in the client’s money.

7.   Can the trading account be in the client’s name and financed by him while managed by the Company?

The e-trading system states the account holder is the person directly responsible for placing trading orders, and orders placed by the trading chambers’ staff are made based on the client’s contact, where the client is responsible for any financial transactions conducted in his account including money deposit and withdrawal or otherwise approval to subscription for capital increase or renewing a forward contract. No act is made by the company in relation to the content of the portfolio except in case a problem occurs legally mandating the company’s act in the content of the portfolio.

8.   What is the commission taken by the Company in return for executed trading transactions?

The Company does not deduct any amount as a trading commission for transactions executed by e-trading accounts. The deduction made from the portfolio based on trading is the Official Market commission, and any other deductions in the account are made with a prior notice to the client. Among such deductions are: Live broadcast subscription – Allowance for adding stocks (according receipts sent by the Official Market management), capital increase allowance – renewal of a forward contract allowance).

9.   Is the order placing service and stock exchanges follow up reports determined according the Official Market office hours?

The electronic system approved in trading (through the internet) allows clients access at any time to the Company’s website and making sure of their accounts, KSE news and trading transactions made throughout the period exceeding the Official Market office hours. It also allows clients the service of placing trading orders without specifying a certain time thereof.

10. Is there any special programme or contact network to utilize downloading the Company’s direct programme?

The direct broadcast programme and approved by NIC does not include downloading the programme in the PC. The programme is an ordinary website and does not require a special network or downloading on a PC to utilize. Subscription in the direct service website is the only means to access it. The Company’s direct broadcast allows clients follow up the Market’s status through any PC and from anywhere, provided a communication channel via the internet is available.

11. Is it possible to add stock certificates and activate the trading account without financing the account with an amount of money?

     Clients can transfer their stock certificates and activate their trading account; though no fees are applicable to open an e-trading account with NIC is free  and they could have their own trading account after providing the signed documents

12. Can stock certificates be added for companies that are not traded on the Official Market?

Clients can not add stocks for companies that are not listed on KSE’s Official Market. Adding these stock certificates to electronic portfolios is made at first after listing the company on the Official Market, then after checking with KSE to allow investment companies transfer stock certificates to be traded within electronic portfolios.

13. Is it possible to add certificates of stocks subscribed on GCC stock exchanges, where these were traded through the Company’s website?

No stock certificates can be added o the electronic portfolio other than the stocks of the companies listed on KSE’s official market. Trading on GCC and foreign stock exchanges based on purchasing and selling via trading through the Company’s website.

14. Is it possible to transfer a certain number of shares or money between two portfolios of the same client or two related clients?

Transferring shares and money can be made among electronic portfolios related to the system of the same investment company. Those who are willing to transfer in such a manner should request either withdrawing the cash amount and depositing thereof in the concerned portfolio or request issuing stock certificates to the name of the concerned person by the Ownership Transfer Section of Kuwait Stock Exchange, then depositing the stocks in the portfolio. Stock ownership transfer from the client name to is fulfilled by the client rater than the Company.