Saudi Arabia seeks to transform the financial market into a global investment platform

Saudi Arabia has announced its intention to launch a set of new improvements to develop the post-trade infrastructure and increase its efficiency.

The improvements are the largest in the history of the Saudi capital market and aim to provide investors with increased investment opportunities and access to a diverse range of financial instruments and new products.

The announcement was made during the Saudi Capital Market Forum, organized in Riyadh by the Saudi group Tadawul, under the patronage of Mohammed Elkuwaiz, chairman of the Capital Market Authority.

Elkuwaiz said work is underway to transform the Kingdom into a global hub for Islamic and sustainable finance.

The new enhancements are introduced by three of the Saudi Tadawul Group’s subsidiaries: the Saudi Stock Exchange, Securities Clearing Center Company (Muqassa) and Securities Depository Center Company (Edaa).

Eng. Khalid Al-Hussan, CEO of Saudi Tadawul Group, said the launch of further market infrastructure improvements would help support financial stability and integrity, as well as improve the group’s products and offerings.

In remarks on the occasion, Al-Hussan noted that the improvements represent another positive step in the development of the Saudi financial market.

“These improvements mark a new chapter in the advancement of the Saudi capital market and align it with global best practices. Our goal is to provide local and international investors with a range of investment opportunities that benefit the Saudi economy and strengthen its position as an attractive global investment destination, he stressed.

Mohammed Al-Rumaih, CEO of Saudi Exchange at Tadawul, said the market would see strong momentum from the initial public offering, revealing that 70 listings were currently underway in the financial market and the Capital Market Authority. .

Wael Al-Hazzani, CEO of Muqassa, said the improvements would allow Muqasaa to activate central clearing services in the main market, parallel market, sukuk, bonds and exchange-traded funds.

“Muqassa will enable the introduction of new products and services to the market and implement international practice clearing services for all products traded on the Saudi Exchange, which is an essential step to develop the market and enhance its stability,” he added.


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