Federation of Saudi Chambers Held Workshop on Listing, in the Saudi Stock Exchange

The Federation of Saudi Chambers held a workshop on Monday, under the motto: Listing in the financial market (the stock exchange or “Tadawul”), in the presence of Tadawul’s Chairman, heads of national committees and leading businessmans.

The move falls in line with the government trend to stimulate national firms, in order to list in the stock exchange.

Pivotal role played by the private sector, in bolstering the national economy has been highlighted, in addition to launching much more initiatives and programs that would enable the national companies to become sustainable, as well to reasserting its contribution in realizing economic development, in collaboration with all pertinent parties, including “Tadawul”.

During the past, a number of initiatives have seen the light, through various memos of understanding co-signed by the federation and ‘Tadawul”, aiming at raising the integration and coordination, in terms of information and data exchange over the financial market and how to enable companies to apply for being listed, in the stock exchange, besides other related goals.

“Tadawul” is already working towards developing the current incentives and stimulus and adding furthermore of them, to reactivate the economic activities as new non-cash incentives are in the pipelines, which will be forwarded by government sides, including legislations.

Both the federation and Tadawul are exerting collective endeavors to bring about a flexible pace to upgrade the legislations, in terms of trading and issues related to both of them, a matter that would help in mitigating challenges ahead.

In the context, another memo of understanding has been co-signed by the federation and the Tadawul, on their respective roles, in promoting each other potentials, with an ultimate goal of serving the national interest, including putting forward a robust mechanism on how to best educate and raise the awareness of companies associated with Tadawul.

Such a process, necessitate showing them the benefits of listing in the stock exchange, through shedding light on the prominent success stories and experiments, across the country and their positive impact, on the companies, various sectors and the national economy, in general.