RIYADH: The Capital Market Authority of Saudi Arabia has revealed a plan for 2024–2026 that aims to strengthen the country’s debt market and increase the asset management sector’s competitiveness abroad.
The plan strongly emphasizes maintaining market integrity and enhancing transparency to protect investors’ rights. It is organized around three primary pillars and consists of more than forty initiatives designed to increase market efficiency and growth. Strengthening the stock market’s role in capital raising is a crucial component of this strategy.
The authority intends to facilitate the issuance of Saudi depositary receipts and introduce special-purpose acquisition companies to the parallel market to accomplish this. These policies aim to increase market appeal to both domestic and foreign investors by providing a wider range of investment opportunities.
“Our new strategy emphasises the creation of a robust debt market, the enhancement of the asset management industry, and the attraction of increased investments to the national economy,” stated CMA Chairman Mohammed El-Kuwaiz, highlighting the bold objectives of the plan. Building on previous achievements, the project aligns with Saudi Vision 2030, which promotes foreign investment and an advanced financial ecosystem to bolster the country’s economy.
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