Ministry of Economy and Planning, CMA and Saudi Exchange Company sign trilateral MoU

Ministry of Economy and Planning, CMA and Saudi Exchange Company sign trilateral MoU

- Focusing on three main areas, the MoU will forge a strong connection between the entities to deliver on the long-term success of Saudi Arabia’s capital market

- It will lay the foundation for increased collaboration and an even stronger Saudi capital market infrastructure

Riyadh: The Ministry of Economy and Planning, the Capital Market Authority, and the Saudi Exchange Company have signed a Memorandum of Understanding (MoU) at the second annual Saudi Capital Market Forum, held under the patronage of H.E. Mohammed El-Kuwaiz, the Chairman of the Capital Market Authority.

The agreement brings together shared objectives among the three entities to drive the sustainable development and long-term success of Saudi Arabia’s capital market, as well as advance ESG industry standards. As part of the MoU, a dedicated coordination team will be established to meet regularly and collaborate across three main areas:

- The development of a Saudi ESG taxonomy

- The development of a national ESG disclosure framework for listed companies, infrastructure companies, and capital market institutions in Saudi Arabia

- Promoting awareness of ESG among investors and companies in Saudi Arabia

Commenting on the signing of the Memorandum of Understanding, His Excellency the Minister of Economy and Planning Faisal bin Fadhil Alibrahim said: “This new partnership