ElKuwaiz: we see positive signs on more listings in Saudi market

Mohammed ElKuwaiz , Chairman of Capital Market Authority, said that he sees positive signs on more listings in the Saudi market, as there is a diversity in listing applicants, in addition to a rise in, IPOs, advisers and company numbers.

He added, in a session of the Capital Market Forum 2022, which after the authority has executed several regulations and made procedure changes. It has to be a stop and look back to evaluate what have been done, noting that the officials in the market are aware of that and they have to move on and keep updating.

ElKuwaiz referred to improving and developing more services and financial products such as stocks, assets, and Islamic finance.

He says: “We have seen more investments, foreign companies and participants in the market, so I see that the most important unique sign in our market is liquidity and volume”.

“The market attracted investment funds, ETFs and bond funds which are adding value and growth to the market and the private sector too”, he added.

The Capital Market Authority chairman stressed on a strong economic environment and liquidity in the market thanks to regulations which have been formed for the interest of all parties to promote integrity and transparency.  Also, the Saudi Market follows Environmental, Social and Governance standards for both international and domestic investors.

He also focused on Fintech as a basic element for development adding that the authority is working with the Saudi Central bank (SAMA) to speed up adopting it.