CMA Chairman highlights market priorities next year

Mohammed ElKuwaiz, Chairman of the Capital Market Authority

Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), highlighted the market regulator’s priority areas for the next year, when speaking at the inaugural Saudi Capital Market Forum (SCMF).

“We are looking to focus on five things over the next year or so -- equities, debt, asset management, sustainable finance, Islamic finance and capital market infrastructure including the launch of products in the derivatives market,” ElKuwaiz said.

“If you look at the top 10 companies in the Saudi capital market by market capitalization, the top 8 already include a degree of ESG reporting,” he added.

To follow the trajectory of sustainability, initial demand started and was concentrated with international investors; however, interest is increasingly transitioning into the local market. “In the region we have shariah compliance -- it’s about taking into account factors other than financial performance,” ElKuwaiz concluded.