Tadawul seeks to encourage entrepreneurship through Nomu, says CEO

Khalid Abdullah Al Hussan, Chief Executive Officer of Saudi Stock Exchange (Tadawul) said the Saudi government and private equity market offer a high level of support to Saudi entrepreneurs who have offered 'very successful models' to date.

"We believe in entrepreneurship. Saudi entrepreneurs have offered very successful models to date. We try to support their financing requirements through Nomu that accepts companies with only one financial year (of operation)," said Al Hussan at Euromoney Saudi Arabia 2018 currently held in Riyadh.

Saudi entrepreneurs have however to start things up, and achieve a certain level of maturity to be ready to tap the financing opportunities at the stock market, he added.