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Dubai: The Saudi stock market is now the seventh largest globally, demonstrating the strength of the real economy, according to Mohammed Bin Abdullah El Kuwaiz, chairman of the Capital Market Authority (CMA).
El Kuwaiz shared these insights at the 7th CEOs Forum, hosted by the Small and Medium Enterprises General Authority (Monsha’at) on September 30 in Riyadh.
The event, centred on the theme ‘Opportunities to Enhance Business Growth’, attracted over 1,200 executives from various sectors and was sponsored by Saudi commerce minister Majid Al Qasabi, who also chairs Monsha’at.
Al Qasabi said that the stock market primarily serves entrepreneurs by providing financing options for growth and exit strategies, enabling investors to pursue new opportunities. He highlighted two main funding sources: Equity financing and debt market financing.
While acknowledging the stock market’s current maturity, El Kuwaiz noted that several priorities remain, especially the implementation of a technological system for managing subscriptions.
This new system, recently introduced by the Saudi Stock Exchange, aims to streamline subscription processes, reduce costs, and shorten processing times, thereby enhancing the market’s appeal.
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