Markaz Research
Markaz: GCC Markets Fall Despite Oil Price Rise
Published: 05 - Oct - 2016 Read More
Markaz Research
Markaz sponsors Euromoney Kuwait Conference 2016
Published: 25 - Sep - 2016 Read More
Markaz Research
Oil Price Rebound Fails to Cheer GCC Markets
Published: 06 - Sep - 2016 Read More
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Markaz Corporate Social and Economic Responsibility Charter 

In its constant endeavor to actively participate in community service and contribute to building a strong and sustainable economy in Kuwait, Kuwait Financial Centre “Markaz” adopted a corporate social and economic responsibility strategy aimed at fulfilling Markaz’s responsibilities to society and national economy.
The strategy is founded on three main pillars, namely:
1.    Building human capacity
2.    Aligning our business environment with the principles of sustainable development
3.    Promoting good governance in the business environment

1. Building human capacity
Out of its belief that the sustainable future of Kuwait relies on individual skills and capabilities, Markaz is keen to cooperate with viable non-profit organizations and contribute to human capacity building programs, in order to provide for and maintain sustainable progress. Below are some of non-profit organizations who are contributing in developing human capabilities:
  • Bayt Lothan
  • AC Milan Soccer School in Kuwait
  • GCC SME Investment Projects Forum
  • Injaz Kuwait
  • Kuwait Association for the Care of Children in Hospitals
  • Children’s Cancer Center Lebanon
  • Kuwait Red Crescent Society
  • Omniaty Project to support children with terminal and deteriorating Illnesses
  • Lending club at Kuwait University, College of Business Administration
  • College of Engineering and Petroleum at Kuwait University
  • Indian Community School Kuwait
  • CFA Institute for research challenge
  • Center of Excellence in Management (Global Center)
2. Aligning our business environment with the principles of sustainable development
In fulfilling its economic responsibility, Markaz was the first to publish research to broaden knowledge of the financial sector. A special department was dedicated to publish research. Markaz also collaborates with a number of global research institutes and experts in the field of economic policies to publish research addressing practical policies capable of implementation in Kuwait and the region, concerned with energy, manpower, economic structuring and the public sector, with emphasis on calling for the publication of such research. The research is disseminated to decision makers and stakeholders in Kuwait, and research findings are discussed with them to reach best practical solutions.
a. Partnership with international experts for sustainable development
Markaz is fully aware of the importance of effective partnerships. It was always motivated by the applied research philosophy which can be appropriately aligned with local realities. Markaz also endeavors to create simple solutions capable of implementation. In this context, Markaz entered into partnerships with many thought leaders and renowned institutes, such as the Institut Français des relations internationales – French Institute of International Relations (IFRI), an independent research institute based in Paris, dedicated to international affairs.
Under the slogan “Towards Sustainable Economic Development”, Markaz has recently published the following reports to stimulate the discussions about
the key challenges at hand and to come up with possible solutions:
  • Powering Kuwait into the 21st Century: Adopting a Sustainable Strategy
  • Powering Kuwait into the 21st Century: Alternatives for Power Generation
  • Policies towards Involving Kuwaitis in the Private Labor Market
  • Tools to Strengthen and Support the State of Kuwait’s Private Sector
  • Review of the Partnership Law between the Public and the Private Sector in Kuwait and its proposed Amendments
  • GCC Energy Strategies: The Way Forward
b. Partnership with economic federations and civil society organizations
Markaz took part in the formation of the Union of Investment Companies in Kuwait in 2004. The Union aims at serving and developing the finance and investment business in Kuwait, and promoting cooperation between Markaz and the Union to enhance the regulatory environment in the investment sector in general. In collaboration with Kuwait Chamber of Commerce and Industry, the Union and Markaz commented on draft legislations, submitted proposals to Kuwait’s Parliament and government departments concerned, and organized lectures and seminars with the participation of world renowned experts.
3. Promoting good governance in the business environment
The public sector plays a vital role in the allocation and use of economic resources in Kuwait, given the importance of the government’s expenditures and role in economic development. Efforts shall be deployed in order to promote the performance of the public sector to drive economic development.
Within this context, Markaz collaborates with the Kuwait Economic Society, an independent nongovernmental national organization. This cooperation focuses on the strengthening of governance principles in public institutions and has resulted in a number of publications, lectures and seminars such as:
  • “Toward Public Sector Reform in Kuwait: Four Policies for Administrative Reform”
  • “Proposed Government Action Plan to Implement Administrative Reform Policies in Kuwait’s Public Sector”
  • “Guide for Review of Governance Practices in Public Sector for Enhancing the Efficiency of Public Institutions”
  • Seminar on Strengthening governance and institutions in the MENA Region
  • Seminar on evaluation by citizens and residents of the quality of basic government services provided in the health and education sectors
  • Seminar on Methods of fighting corruption and implementing good governance principles in the public sector
  • Legal workshop titled: Review of laws of governance in the public sector to improve the efficiency of government institutions
  • Workshop on Law No. (110) of 2014 concerning capping end-of-service benefits for subscribers in PIFFS in all sectors
  • Series of seminars titled: Good governance principles for public sector reform

Corporate Social and Economic Responsibility Report - 2014 / 2015