Wamid sets 9 initiatives for integration, services development with Saudi Tadawul Group subsidiaries: CEO

Mohammed Al-Nory, CEO of Wamid

Wamid, a subsidiary of Saudi Tadawul Group, set nine initiatives that aim at the integration and development of services with Saudi Exchange, Securities Depository Center (Edaa) and Securities Clearing Center (Muqassa), chief executive officer (CEO) Mohammed Al-Nory told Argaam in an exclusive.

“One of these initiatives aims to enhance the performance of the stock market institutions’ systems, in response to Tadawul systems, to accelerate order and bid services. It also aims to enhance investor experience in mutual funds, Al-Nory said, adding that the company will provide innovation-based solutions to be the basis for its future investments through acquisitions.

Wamid will start focusing on the financial sector, as many opportunities are available and the sector needs the company’s operations. It will tap other sectors, based on its strategy, later, he concluded.

The Saudi Stock Exchange (Tadawul) announced on April 7, 2021, its transformation into a holding group under the name of “Saudi Tadawul Group” ahead of the planned initial public offering (IPO) this year, Argaam reported.

The group includes four subsidiaries: the Saudi Exchange, Muqassa, Edaa and Wamid.