Saudi Press

Saudi Arabia and the world
Wednesday, Dec 06, 2023

Saudi financial market outperforms G20 counterparts: CMA

Saudi financial market outperforms G20 counterparts: CMA

Saudi Arabia’s financial market led its counterparts in other G20 countries in 2022 in terms of shareholders’ rights and stock market capitalization as a percentage of gross domestic product, according to the Capital Market Authority.
The shareholder’s rights as a percentage of GDP give a sense of the influence that they have on the economy, while the stock market capitalization-GDP ratio indicates the size of the stock market in relation to the country’s economy.

In its annual report for 2022, the authority stated that the rate of public offerings in the Saudi capital market advanced to a new high, with a portion of 37 businesses’ shares offered for sale in the main and parallel markets for a total of SR40 billion ($10.6 billion).

Some 13 firms’ shares were registered for a direct listing on the parallel market in the same context.

Saudi’s capital market was dubbed “resilient” in February by Wassim Alkhatib, CEO of Lazard Investment Banking for the Middle East and North Africa, as he talked of the unprecedented global challenges that countries around the world had faced in 2022.

“The CMA is creating the potential required to provide a suitable and encouraging environment for the capital market system to positively reflect on the Kingdom’s economy,” Mohammed bin Abdullah Elkuwaiz, chairman of the CMA said in the report.

In terms of foreign ownership, the main market witnessed record net foreign investment levels in 2022, amounting to about SR184 billion.

By the end of 2022, foreign investors’ ownership value in the main market totaled SR347 billion, which represents 14 percent of the free float total value.

According to the regulator, since the Saudi market joined the MSCI Emerging Markets Index in 2019, the pace of growth in foreign investment last year was the highest.

The CMA approved three new operational regulations — Securities Exchanges and Depository Centers Regulations, Instructions on Direct Financing Investment Funds, and Instructions for Shariah Governance in Capital Market Institutions.

Additionally, the authority altered seven implementing regulations, rules, and guidelines.

Some 91 licenses were the subject of inspections, which were broken down into 53 cycle inspections and 38 cause inspections.

On the control level, thorough investigations into possible trading violations increased by 17.7 percent to 859 instances in 2022 from 730 cases in 2021, yielding 11 suspected cases and 152 control inquiries, the CMA reported.

Elkuwaiz emphasized that such accomplishments are the result of the hard work and dedication of all employees aiming to place the Kingdom in its rightful place and achieve the CMA’s strategic objectives.

These objectives include ranking the Saudi market as the leader in the Middle East and placing it among the top 10 capital markets globally, in line with the Kingdom’s Vision 2030.

Complaints received fell 15.7 percent to 12,118, with 11,354 settled and 512 referred to the Committee for the Resolution of Securities Disputes, while 252 are under review.

On the legal level, the total compensation ordered by the CRSD in its final rulings was SR1.75 billion, a rise of 377.7 percent from 2021.

Related Articles

Saudi Press
Henry Kissinger, the influential American diplomat, Nobel Peace Prize laureate, and former Secretary of State, passed away at 100 at his Connecticut home.
Here is a video showing the moment of the release of the captives by the terrorist organization Hamas and their transfer to the Red Cross on their way back to the State of Israel.
Here is a video showing the moment of the release of the captives by the terrorist organization Hamas and their transfer to the Red Cross on their way back to the State of Israel.
Bill Gates Envisions a Possible 3-Day Work Week with AI
Abu Dhabi-Backed Fund Poised to Assume Control of UK's Telegraph Media Group
Biden Advocates for Palestinian Authority to Govern Gaza and West Bank
Apple and Disney Halt Ads on X Following Elon Musk's Antisemitic Post, US Reacts
The UK’s Supreme Court, in a move that surprised no one who respects international law and human rights, has just delivered a landmark ruling against Prime Minister Rishi Sunak’s immigration strategy.
Top German journalist received €600,000 from Putin ally, leak reveals
A Dramatic Video from Gaza, Provided by IDF Spokesperson Daniel Hagari, Offers Undeniable Evidence of Hamas Establishing Terror Operation Bases Near Schools, Above Hospitals, and Inside Civilian Areas.
Moody's Downgrades U.S. Credit Outlook to Negative Amid Fiscal Concerns
Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Steve Jobs' Son Launches Venture Capital Firm With $200 Million For Cancer Treatments
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
Google reshuffles Assistant unit, lays off some staffers, to 'supercharge' products with A.I.
End of Viagra? FDA approved a gel against erectile dysfunction
UK sanctions Russians judges over dual British national Kara-Murza's trial
US restricts visa-free travel for Hungarian passport holders because of security concerns
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Political leader from South Africa, Julius Malema, led violent racist chants at a massive rally on Saturday
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
'I am not your servant': IndiGo crew member, passenger get into row over airline meal
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Spanish Citizenship Granted to Iranian chess player who removed hijab
US Senate Republican Mitch McConnell freezes up, leaves press conference
Speaker McCarthy says the United States House of Representatives is getting ready to impeach Joe Biden.
San Francisco car crash
This camera man is a genius
3D ad in front of Burj Khalifa
Next level gaming
BMW driver…
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Swedish Embassy in Baghdad Engulfed in Flames Amidst a Firestorm of Protests
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Today, we're unveiling the splendor of one of Saudi Arabia's most exclusive and stunning retreats – the Jeddah Yacht Club
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali