Kuwait's cabinet appointed former finance minister Nayef Al-Hajraf as chairman of its Capital Markets Authority, which regulates the stock market, state news agency Kuna said.

He replaces Saleh Al-Falah, who had held the post since the CMA began operating in early 2011. Kuna did not specify why Falah was leaving, beyond saying that his appointment had ended.

Among his previous posts, Al-Hajraf served briefly as an acting finance minister and was also an education minister. He was appointed a board member of the CMA upon its creation.  - Reuters