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Watani Financial Brokerage Company (WFBC)

Corporate Governance

WFBC believes that the application of good corporate governance rules and regulations provides a proof of company's systems solidity where it’s the most important base and foundation to ensure the rights of stakeholders and enhance their supervision role over the company, WFBC establish and promote the corporate governance rules and regulations according to the Capital Markets Authority standards to implement the highest standards of professional competence.

Accordingly, WFBC is working on establishing a culture of responsibility and accountability to all parties to the company, starting from its Board of Directors and its responsibility in the implementation of the corporate governance framework and rules, determining the mechanism of decision-making, reviewing plans and policies as well as its role to ensure implementation of proper management to achieve the company objectives and activate proper management system through the executive management , also activation of the internal control system down to all employees of the company to ensure the compliance with the Code of Conduct and Ethics.

WFBC is being directed by a BOD composed of Executive, non-Executive and Independent members enjoying extensive experiences and qualifications. The BOD is supported in achieving its roles by several committees whose responsibilities and authorities are defined by the BOD.

The Board of
Directors committees are:

  • The Nomination and Remuneration Committee

  • The Risk Management Committee

  • The Audit Committee

The Nomination

and Remuneration Committee

The Main Role:

The main role of the Nomination and Remuneration Committee is to draw recommendations for nomination to membership of the Board of Directors and Executive Management and recommendations related to policies and regulations that govern the granting of benefits and remuneration.

Members of the Committee:

The Risk Management Committee

The Main Role:

The main role of the Risk Management Committee is to draw Risk Management policies and the relevant internal regulations in line with the Company’s risk appetite.

Members of the Committee: Risk Management

The Audit Committee

The Main Role:

The main role of the Audit Committee is to ensure the integrity and soundness of the financial reports and internal control systems.

Members of the Committee: Audit

Introduction

Watani Financial Brokerage Company (WFBC) is a leading financial brokerage company in Kuwait, offering trading services in the local market for selling and buying securities listed in the regular market and in the OTC market (unlisted) in Boursa Kuwait

WFBC systems provide trading solutions that grant excellent services to its clients. WFBC holds a market share standing amongst the top Brokerage Companies in Boursa Kuwait.

WFBC is licensed by Kuwait Capital Market Authority (CMA).

The financial statements of the company are consolidated within the financial statements of its parent company (National Bank of Kuwait S.A.K.P.) which may be accessed here.

The external auditor of WFBC is Mr. Talal Y. Al-Muzaini, Deloitte & Touche (Al Wazzan & Co).

Services

 

You may view it on WFBC website, by pressing on the link below:

https://www.watani-wasata.com/en-services.html

  • 01

    WFBC offers the service of selling and buying securities of companies listed in Boursa Kuwait.

  • 02

    WFBC offers the services of selling and buying securities of companies listed in the OTC market.

  • 03

    Easy trading through specialized brokers and via more than 80 direct phones assigned for WFBC clients.

  • 04

    Providing the service of receiving, handing off and depositing Bank checks in the clients’ bank accounts.

  • 05

    Providing the service of sending a summary of the client’s trading on daily basis by email, fax or by SMS after the closing of the trading session.

  • 06

    Receiving the annual dividends of the listed companies on behalf of clients through Kuwait Clearing Company.

  • 07

    WFBC is unique in providing

  • 08

    The company's branches provide a service to deliver the statement of accounts issued by the Kuwait Clearing Company to customers.

Branches

In addition, to the main office of WFBC located at the building of Boursa Kuwait.

You may view it on WFBC website, by pressing on the link below:

https://www.watani-wasata.com/en-branches.html

 WFBC provides trading service through its branches spread in 7 locations in National Bank of Kuwait premises where the company provides trading halls equipped with screens displaying live share prices and news without the need to visit Boursa Kuwait location to proceed with the selling and buying transactions. There are also a number of specialized brokers in the mentioned branches to execute the selling and buying orders at the real market time and provide all the aforesaid services to the clients through the branches spread at the following branches of NBK:

  • 01

    Shamiah Branch

  • 02

    South Surra Branch

  • 03

    Salwa Branch

  • 04

    Andalus Branch

  • 05

    Jahra Commercial Branch

  • 06

    Fahaheel Al-Sahely Branch

  • 07

    Ageila Branch

Related Links

Boursa Kuwait
Capital Markets Authority
Kuwait Clearing Company
National Bank of Kuwait
Watani Investment Company
The List of Annual Dividends of Listed Companies in Boursa Kuwait 2023

NBK Wealth
Asset Management

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