CMA restructures advisory committee

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The Capital Market Authority’s (CMA) board of directors issued a resolution to recompose the advisory committee for its eighth term.

The advisory committee comprises 12 part-time members from market participants, experts, specialists, and experienced college professors. The committee's composition took into consideration a wider representation of market participants.

The members are as follows:

1) Ameen bin Fahad Al Shiddi – stc’s chief financial officer (CFO)

2) Rayyan bin Mohammed Nagadi – CEO of National Center for Privatization & PPP (NCP)

3) Saleh Bin Hamad Al Shunifi – stc’s internal auditing consultant

4) Abdulrahman A. Alnafea - Founder of Abdulrahman bin Abdulmohsen AlNafea office

5) Abdulaziz Mohammed Alajaji- CEO of Morgan Stanley Saudi Arabia

6) Abdulatif A. Alseif – CEO of Raidah Investment Co.’s (RIC)

7) Abdullah H. Al Fozan – Chairman of KPMG Al Fozan & Partners

8) Abdullah Bin Nasser Al Dawood – CEO of Seera Holding Group

9) Mohammed S. Al Rumaih – Chief of Markets at Tadawul

10) Fahad I. Alshathri – Deputy governor for supervision at Saudi Central Bank (SAMA)

11) Fahad K. Alsaud – MD & CEO of Alpha Capital Co.

12) Fahad A. Alhoymany – Founder & CEO of EPAP Marketing Platform Co.

The advisory committee held five meetings during its seventh term, and presented a set of proposals and recommendations on a number of topics, most notably on CMA's strategic plan and the most important achievements, convertible debt instruments, and a special strategy to make the Kingdom among the largest financial centers in the world by 2030.

The committee’s proposals also included the potential effects of the COVID-19 outbreak on the local economy and the Saudi financial market; the proposed regulatory framework for the graduation of collective ownership financing platforms from the FinTech Lab; and announcements issued by the Commission’s board decisions to impose administrative sanctions from the Commission’s board or related to the referral of criminal cases to Public Prosecution; the derivatives market; endowment funds; and dual listing of ETFs.