Key Financial Achievements:
Sukuk and Debt Instruments:
- Raised SR29.95 billion ($8 billion).
- The sukuk and debt instruments market reached 18.3% of GDP.
- 70 sukuk and debt instruments listed.
- Significant growth in sukuk and debt capital market since 2019, with unlisted issuances growing annually by 9.6%.
- Total corporate sukuk and debt market size reached SR125 billion.
Foreign Investments:
- Secured SR198 billion in foreign investments, marking a 7.7% increase from the previous year.
- Foreign investor ownership rose to SR401 billion.
Market Activity:
- Traded values increased to SR2.5 billion.
- Transactions surged from 3,722 in 2021 to 36,961 in 2023.
- Individual investor participation increased to 12.5%.
Regulatory and Market Developments:
New Regulations and Amendments:
- Approved new regulation and amended four existing principles, rules, and instructions.
- Sanctioned Real Estate Contributions Law to strengthen the legislative framework.
- Introduced Rules for Foreign Investment in Securities.
- Updated critical regulations such as:
- Implementing Regulations of the Companies Law for Listed Joint Stock Companies.
- Capital Market Institutions Regulations.
- Instructions for Company Announcements.
- Investment Accounts Instructions.
Market Listings:
- 43 new listings, a 79% increase from the target.
- Seven companies listed in the main market.
- 29 companies listed in the parallel market.
- Six direct listings in the parallel market.
- One traded real estate fund.
Strategic Initiatives:
Debt Market Development Strategy:
- Fostered market growth and enhanced liquidity.
- Canceled CMA’s share of the trading commission on sukuk and bonds.
Global Financial Market Rankings:
- Ranked first among G20 countries in the Board of Directors Index.
- Secured second place in key indices such as:
- Ease of Access to Financial Markets Index.
- Stock Market Capitalization Index.
- Shareholder Rights Index.
- Venture Capital Index.
- Improved position in six out of 12 financial market indicators according to the IMD World Competitiveness Yearbook.
Impact and Future Outlook:
- The CMA’s efforts align with Saudi Vision 2030, aiming to enhance market vibrancy, governance, and investor protections.
- Continuous collaboration with the Financial Sector Development Program to foster market development.
- Focus on adopting best practices and digitalizing trade processes to attract global investors.
These achievements underscore Saudi Arabia's commitment to developing a robust and competitive capital market, contributing to the Kingdom's economic diversification and long-term financial stability.
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BUSINESS