JEDDAH, 19 March 2005 — Saudi Arabia’s first capital market forum will be held in Riyadh next month.
A number of economic decision-makers in Saudi Arabia and the Gulf will participate to discuss the latest trends and challenges faced by the capital market in Saudi Arabia.
The forum is being organized by the Consulting Center for Finance and Investment (CCFI), in association with the National Vision Company.
The April 19-20 forum aims to clarify the new laws and systems of the market. The Saudi Capital Market Authority (CMA) will participate by setting up specialized workshops, introducing techniques for improving the businesses of contributing companies, and highlighting the experiences of other nations in the capital market.
The head of CCFI, Dr. Abdulaziz Al-Dukheil, confirmed that the forum will focus on the experiences of the Gulf and Arab nations in the capital market, and the future needs of the Saudi market. Working papers will be presented by a group of economic experts during the two-day session.
The Saudi capital market, which continues to be the largest Arab capital market, accounts for more than SR740 billion.
During the forum, specialized paper on Saudi capital markets will be introduced to discuss the advantages and disadvantages and the role of the CMA in the coming stages. The most important functions of the CMA are: Organizing bonds, overseeing and dealing with them, protecting investors in bonds from unjust or crooked practices such as theft, embezzlement or corruption; working to achieve justice and clarity in bond dealings; auditing and approving the introduction of bonds and the enlisting, withdrawal or suspension of them.
