Albilad Capital and Tadawul Celebrate the Listing of Albilad CSOP MSCI Hong Kong China Equity ETF on the Main Market

Albilad Capital rang the opening bell of the Saudi Exchange (yesterday 30th October) to celebrate the listing of the Albilad CSOP MSCI Hong Kong China Equity ETF which marks the largest ETF listing in the history of MENA region and the commencement of trading its units on the main market "TASI" under the symbol (9410).

The listing ceremony was attended by the Honorable Paul Chan Mo-Po, Financial Secretary of Hong Kong, Special Administrative Region of the People’s Republic of China, His Excellency Mr. CHANG Hua, Chinese Ambassador to the Kingdom of Saudi Arabia, Mr. Darryl Chan, Deputy Chief Executive of Hong Kong Monetary Authority, Mr. Carlson Tong, Chairman of Hong Kong Exchanges and Clearing Limited, Ms. Julia Leung, CEO of the Hong Kong Securities and Futures Commission, and Ms. Ding Chen, CEO of CSOP Asset Management from the Chinese side. From the Saudi side, Mr. Nasser Al-Subaie, Chairman of the Board of Directors of Bank Albilad, His Excellency Mr. Ihsan Bafaqih, Chairman of the Board of Directors of Albilad Capital, Eng. Khalid Al-Hussan, CEO of the Saudi Tadawul Group, Mr. Muhammad Al-Ajlan, Chairman of the Saudi-Chinese Business Council, Mr. Mohammed Al-Rumaih, Executive Director of Saudi Tadawul and Mr. Zaid Al-Mufarreh, CEO of Albilad Capital.

Mr. Zaid AlMufarih, CEO of Albilad Capital, stated: "We are delighted with our market leadership and these successes in listing the largest number of ETFs managed by Albilad Capital. Today we continue our success by announcing the listing of the largest fund in the history of the Middle East and North Africa markets on the Saudi Stock Exchange, Albilad CSOP MSCI Hong Kong China Equity ETF valued at 4.49 billion Saudi Riyals, marking it as the first of its kind in Saudi Arabia. This ETF will invest in the largest Chinese companies listed on the Hong Kong Stock Exchange, compliant with the Sharia Board's guidelines at Albilad Capital. This is the sixth ETF listed by Albilad Capital, affirming our commitment to providing innovative financial services that meet the aspirations of our stakeholders and investors and enable them to access new and diverse asset classes, financial markets, and investment strategies with ease."

He also added that the sector of Exchange Traded Funds in the Saudi market is witnessing significant progress due to the readiness and development of the financial market's infrastructure, as well as the adaptation of the regulatory and legislative environment in the Kingdom to the rapid changes in global financial markets. Abilad Capital aims, through its innovative products, to make the Saudi market a gateway to global markets, considering that the Saudi market is in the best position for connecting Eastern and Western markets. We aspire through this product to enable investors to gain exposure to the world's second-largest economy and one of the fastest-growing emerging markets.

Albilad Capital is considered one of the largest issuers of Exchange Traded Funds locally and regionally, holding the top position in terms of assets under management and being the most diversified in the Saudi market within the ETF sector. The assets under management in ETFs on the Saudi market reached approximately 650 million Riyals before the listing of the Albilad CSOP MSCI Hong Kong China Equity ETF, which added about 4.5 billion Saudi Riyals to the total assets managed by ETFs, pushing the sector's size beyond 5 billion Riyals. This makes this sector in the Saudi market twice the size of the ETF sector in regional markets combined.

The CEO concluded his statement by expressing his deep gratitude to the Capital Market Authority, the Saudi Tadawul Group, partners in Hong Kong-China, and the team at Albilad Capital.

From his side, Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority said, “Our congratulations to Albilad Capital on the launch of Albilad CSOP MSCI Hong Kong Equity ETF. This launch is a continuation of the cross-border capital markets collaboration between Hong Kong and the Kingdom of Saudi Arabia. As the de facto Central Bank of Hong Kong, Hong Kong Monetary Authority is very glad to play a role in supporting this monumental development and look forward to seeing investors in the Kingdom to explore our capital market through this fund."

On her part, Ms. DING Chen, CEO of CSOP said, “We are delighted and honoured to witness the launch of the first ETF investing in Hong Kong listed China equities on Saudi Exchange, which is a great step forward in connecting China and Saudi capital markets. CSOP has always been committed to enriching the ETF ecosystem in Hong Kong, and now we will continue our efforts to bring products with China exposure to our clients in Middle East area. I would like to express my sincere gratitude to Albilad Capital for its dedicated efforts in bringing the opportunity to invest in China to Saudi Arabia.”

Albilad CSOP MSCI Hong Kong China Equity ETF marks a significant addition to Albilad Capital, which leads the scene in pioneering ETFs, with this listing being the company's sixth and joining its unique and qualitative range of ETFs.

The Albilad CSOP MSCI Hong Kong China Equity ETF joins the suite of ETFs managed by Albilad Capital, which includes a broad range of six out of ten ETFs listed on the Saudi financial market, namely the Albilad Sukuk ETF, Albilad Gold ETF, Albilad MSCI US ETF, Albilad MSCI US Tech ETF, and Albilad Saudi Growth ETF.

It is noteworthy that ETFs are investment funds with variable capital that track a specific index and are divided into equal units traded on the financial market during trading sessions. These funds combine the advantages of both mutual funds and stocks, typically featuring low costs and diversity.