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Volume :47 Issue : 183 2021      Add To Cart                                                                    Download

The Legal Framework of Small and Medium Enterprises' Financing by Crowdfunding: A Study on Crowdfunding Regulation Ability under the Capital Markets Authority Law and Its Executive Bylaw

Auther : Dr. Fahad N. Alshammari

Objectives: This study aims to regulate the crowdfunding under Kuwait Capital Markets law and its executive bylaws, Module Eleven "Dealing in Securities". Although the Kuwait legislator had enacted the national fund for small and medium enterprise development to ensure that entrepreneurs obtain the optimal fund for their projects, the national fund has fallen short of the goals that the Kuwaiti legislator sought to achieve.
Method: The study conducted the nested comparative analytical approach using comparative models to understand the concept of crowdfunding and to identify the legislative shortcomings' aspects in the Kuwaiti law.
Results: This study revealed that Kuwait has proper legislative rules that fit the distinctive features of crowdfunding; however, this study recommended several legal amendments to Module Eleven "Dealing in Securities" of the executive bylaw of the Capital Markets Authority to ensure that Kuwait keeps up with the fast pace of crowdfunding spread in the business world.
Conclusion: This study was concluded with a set of results and recommendations to the Kuwaiti legislator to introduce several legal amendments to Module Eleven of the executive bylaw of Capital Markets Authority law.

Keywords: Crowdfunding, Small and Medium Enterprises, Kuwait.
 

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Dec 26, 2021

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