Business · Markets · 14 hrs ago
Saudi market chief sets plan to address stock market challenges
Saudi Capital Market Authority chief Mazen Al-Sudairi says he has prepared a plan to address challenges in the Saudi stock market.
He says the priorities are fairness, efficiency and stronger confidence in the market.
The market once relied on paper deals through private offices, with limited protections for buyers and sellers.
Reforms later brought daily oversight, bank-based trading and automated settlement.
The Capital Market Authority was established in 2003, and regulation and automation helped expand the market.
The market now plays an important role in investment and reflects the strength of the Saudi economy.
The next phase is expected to continue reforms, seek public views on some decisions and protect individual investors’ rights.
Saudi Capital Market Authority chief Mazen Al-Sudairi has set a plan to address major challenges facing the Saudi stock market.
He said the plan follows his appointment and reflects instructions to strengthen market fairness and efficiency.
The stated goals include raising confidence and supporting investment and economic growth.
Al Eqtisadiah described the announcement in an article that also traced the market’s development from informal trading to a regulated system.
The article said the market’s next phase should protect investors’ rights and encourage balanced growth.
- Who
- Mazen Al-Sudairi, head of the Capital Market Authority.
- What
- He said he had set a plan to address major challenges facing the Saudi stock market.
- When
- After his appointment as authority chief; the appointment date is not stated.
- Where
- Saudi Arabia.
- Why
- To strengthen market fairness and efficiency, raise confidence, and support investment and economic growth.
This story does not have two clearly opposing sides.
Not stated
The Saudi Arabian Monetary Agency took responsibility for the market’s daily regulation, and commercial banks became the only stock-trading intermediaries.
Automated settlement began, and investors started going to bank trading halls popularly known as “the screen.
The Capital Market Authority was established.
Al-Sudairi said he had set a plan to address the stock market’s main challenges.
- Plan
- To address the main challenges facing the Saudi stock market
- Market regulator
- Capital Market Authority
- Daily regulation began
- 1984
- Automated settlement began
- 1989
- Capital Market Authority established
- 2003
Sources
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