CMA to focus on boosting companies listing, diversifying investments: Chairman

The Capital Market Authority (CMA) will prioritize during the next period on supporting the listing of Saudi companies, diversifying investments products, as well as focusing on investors’ protection, said chairman Mohammed El Kuwaiz.

Speaking at the ‘Listing Forum’, organized by Riyadh Chamber, El Kuwaiz added the CMA has been focusing for the last three years on investors and opening up the market, which led to an abundance of liquidity, adding that the top priority is to attract the available listings in line with the aforementioned liquidity.

He also said that the authority is working on diversifying investment products such as Closed-Ended Investment Traded Funds, updating investment funds regulations, and creating a dedicated establishment for such funds.

He also said the authority is working on establishing a clearance center, which will be the key for the derivative market in the Kingdom.

El Kuwaiz noted that the amendments introduced to the financial market system has affected the monopoly of Tadawul being the sole market, in addition to the Securities Depositary Center Company, hoping that further activities will obtain the required licenses.

He also said that the authority will work on enacting new amendments to protect investors, and expand compensation funds to ensure the rights of those previously affected.