The Capital Market Authority (CMA) is launching a scheme this year to diversify the investment tools in the local market as part of its efforts to strengthen the Kingdom's securities and bonds trade.

This was stated by CMA Chairman Muhammad Al-Asheikh in the authority's annual report released yesterday.

He said: "The CMA will strive to overcome all legal, regulatory and structural obstacles that stand in the way of issuing and diversifying the tools of credit for investment and buoying up their circulation," Al-Asheikh said in the preface of the report for 2012.

The report said the total value of securities launched in the year rose to SR 46.2 billion, recording a 112.2 percent growth from SR21.8 billion in 2011.

The report said the number of listed companies rose to 158 in 2012 from 150 in 2011.

The report said 2012 witnessed considerable improvement in the volume of securities and bonds. There were 126 operations to launch and regulate securities and bonds in 2012. This is an increase of 27.3 percent from 99 in 2011.