RIYADH, 6 July 2006 — The Capital Market Authority (CMA) published yesterday a draft of new statutes aimed at improving the management of companies listed on the Saudi stock exchange.
The CMA is now seeking feedback on the new statutes from relevant specialists and professionals, including company managers and stock analysts, by Aug. 4.
The CMA said in a statement that improving the quality of corporate governance was vital for a healthy stock market and publicly listed companies.
Feedback is being accepted by e-mail at [email protected], fax (01-2797683) or regular mail: Legal Administration Dept., P.O. Box 220022, Riyadh, 11311.