Saudi Arabia Seeks to Turn Financial Market into Global Investment Platform

Saudi Arabia Seeks to Turn Financial Market into Global Investment Platform

Saudi Arabia announced its intention to launch a package of new enhancements to develop the post-trading infrastructure and increase its efficiency.

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

The announcement was made at the Saudi Capital Market Forum, which was held in Riyadh by the Saudi Tadawul Group, under the patronage of Mohammed Elkuwaiz, the Chairman of the Capital Market Authority.

Elkuwaiz said that work was underway to transform the Kingdom into a global hub of Islamic and sustainable finance.

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

Eng. Khalid Al-Hussan, CEO of the Saudi Tadawul Group, said that the launch of new improvements to the market infrastructure would contribute to supporting financial stability and integrity, as well as enhancing the group’s products and offerings.

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

“These enhancements mark a new chapter in the advancement of the Saudi capital market