Capital market institutions staff average earnings grow to SAR 1M per person: ElKuwaiz

Mohammed El-Kuwaiz, Chairman of CMA

The number of employees at the capital market institutions rose to 5,522 in Q3 2023, said Chairman Mohammed Elkuwaiz.

Average earnings per employee at capital market institutions grew to SAR 1 million.

This increase reflects better efficiency of human cadres in the Saudi capital market, ElKuwaiz added on the sidelines of the Capital Market Institutions Forum. The market regulator works with the capital market and economic systems to develop a unified concept for sustainability.

CMA seeks to drive the market institutions to publish the relevant disclosures to enhance the capital market attractiveness, Elkuwaiz affirmed in an emailed statement to Argaam.

The Capital Market Institutions Committee concluded the forum, which was organized with the CMA in Riyadh on Nov. 30 under the theme “Toward A Promising Capital Market”.

The first panel discussion discussed opportunities and enablers on the level of investment options in the public sector, as well as diversified investment products and their impact on the capital market’s sustainability development.

The second panel discussion addressed the impact of artificial intelligence (AI) and innovation on the capital market products and how to benefit best from global technology and AI to analyze data and maintain innovation.

Speakers also discussed the future of real estate products, aspirations and challenges.

The number of employees at capital market institutions reached 5,524 in Q2 2023, a rise of 103 quarter-on-quarter.