JEDDAH, 18 April 2006 — Adeem Global Company and the Jeddah Chamber of Commerce and Industry are organizing a forum on stock investment entitled “Your Share: Your Enrichment or Impoverishment” on April 30 at the chamber.
At a press conference on Sunday, JCCI Vice Chairman Ziad Al-Bassam said that this forum is timely and there will be monthly forums on the stock market to discuss its various aspects.
Abdulrahman Al-Mutawae, the general manager of Adeem, said that organizing this forum and future forums on the stock market is part of the company’s efforts to educate the public and serve the community by bringing them in contact with experts and analysts.
“The Saudi stock market has been through several important changes and developments during the past three months that require educating investors on these developments and how to deal with them,” said Al-Mutawae.
“There is a lack of understanding by small investors of the mechanisms of the stock market and many don’t have the necessary expertise and they rely on rumors and chatrooms in making their decisions, so it’s important to improve their knowledge in order for them to make correct decisions,” he added.
A number of experts and economists will be speaking at the forum, including Dr. Said Al-Shaikh, senior economist at National Commercial Bank, Asaad Johar, professor of economics at King Abdul Aziz University, as well as specialists in law and information systems, two areas closely related to stock trading.
Asked if representatives from the Capital Market Authority would be among the speakers, since many investors have called for more transparency and communication with the CMA, Al-Mutawae said that they would not be participating in this forum but may take part in future forums.
Al-Bassam commented that CMA does need to be more transparent and he called for more public appearances and statements by its spokesperson and director.
