Investor relations specialists underline importance of technology

Argaam team participated in the organization of a panel discussion titled “KSA through the IR looking glass” as part of the Middle East Investor Relations Association (MEIRA) conference, which specializes in discussing the best practices and professional standards related to investor relations (IR) and the application of corporate governance.

The discussion panel featured speakers, Fadi Al-Qutub, CIO at Saudi Reinsurance Co. (Saudi Re), Mohamed Abdelhamid, Head of Investor Relations at United Electronics Company (eXtra), and Fahad Alothman, Director of The Treasury and Investment Department at Maharah Human Resources Co.

The speakers shed light on the journey of investor relations transformation since its emergence in 2016, the changes that took place in listed companies due to coronavirus, and the challenges posed by the pandemic, which led to the development of the investor relations department for communication with investors.

They added that the sector began to use some global standards in communication with investors through several channels, such as online meetings and allowing communication through the official “IR” webpage and smart phone applications to view financial data, and raise the level of governance and transparency.

The speakers stressed that the Saudi Exchange (Tadawul) is going through a significant phase of change in terms of investor relations to deliver the Vision 2030 goals, through attracting foreign investors and applying ESG standards.

Abdelhamid, Head of IR at eXtra, said the company worked on developing an IR webpage during the pandemic to facilitate communication with investors and allow them to get all information about any developments. This marks a new stage in the IR department post-COVID.

Al Qutub, CIO at Saudi Re, said the IR guidelines issued by Saudi Tadawul Group Holding contributes to the development of IR departments using the best practices. He pointed out that the Saudi market is witnessing accelerated growth and applies international standards through IR development, which should be adopted as part of the strategy of all companies.

Alothman, Director of The Treasury and Investment Department at Maharah, stressed the importance of IR departments and activation of special channels to convey messages to investors. He indicated that some companies are still facing challenges in creating and developing such channels.

To watch the panel discussion: