Capital market institutions employ over 6,000 by Q2-end; Saudization at 76%: CMA

Logo of Capital Market Authority (CMA)

The number of employees at capital market institutions rose by 228 quarter-on-quarter (QoQ) to 6,011 by the end of the second quarter of 2024, according to the latest data from the Capital Market Authority (CMA).

Meanwhile, the Saudization rate at these institutions reached 76% by the end of the second quarter, according to the Capital Market Institutions Report.

The table below shows the number of employees at capital market institutions since 2017:

Employees at Capital Market Institutions since 2017*
Period**	Number of employees	Saudization
Q1 2017	4420	70%
Q2 2017	4351	70%
Q3 2017	4379	70%
Q4 2017	4342	71%
Q1 2018	4385	72%
Q2 2018	4332	72%
Q3 2018	4353	72%
Q4 2018	4325	73%
Q1 2019	4317	73%
Q2 2019	4240	73%
Q3 2019	4340	73%
Q4 2019	4348	73%
Q1 2020	4350	73%
Q2 2020	4371	73%
Q3 2020	4417	74%
Q4 2020	4395	75%
Q1 2021	4464	76%
Q2 2021	4491	76%
Q3 2021	4606	77%
Q4 2021	4773	77%
Q1 2022	4784	78%
Q2 2022	5109	77%
Q3 2022	5100	77%
Q4 2022	5252	77%
Q1 2023	5421	77%
Q2 2023	5524	75%
Q3 2023	5531	77%
Q4 2023	5689	76%
Q1 2024	5783	77%
Q2 2024	6011	76%

*Includes data of companies that were licensed at the time, but unlicensed later.

The number of capital market institutions reached nearly 158 by the end of the second quarter of 2024. SNB Capital topped the list by number of employees with 403. Riyad Capital followed with 304 employees. The Saudization rate at the entities was 89% and 87%, respectively during the same period.

Meanwhile, nine companies achieved 100% Saudization.

Number of Employees by end of Q2 2024
Company	Number of Employees	Saudization
SNB Capital	403	89%
Riyad Capital	304	87%
HSBC Saudi Arabia	302	68%
Al Rajhi Capital	260	87%
Alawwal Invest	230	79%
Saudi Fransi Capital	202	90%
Alinma Invest	200	91%
Derayah Financial	195	81%
Albilad Capital	189	87%
AlJazira Capital	187	80%
ANB	167	85%
Jadwa Investment	153	75%
SEDCO Capital	136	73%
Alistithmar Capital	135	83%
Alkhabeer Capital	123	81%
Yaqeen Capital	106	81%
GIB Capital	92	82%
Alkhair Capital	82	73%
Musharaka Capital	82	73%
Blominvest Saudi Arabia	77	60%
Others	2386	--
Total	6011	76%

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