The Chairman of the Saudi Capital Market Authority, Muhammad Al-Qweiz, stated during the Financial Sector Conference that the Authority started to allow foreign companies to be included in the Saudi financial market, and is working to launch the first financial derivatives to enable foreign investors.
>Al-Quwaiz added that the presence of diversified investors in the market raises its efficiency and increases its stability, and what we have done recently is to diversify and not focus on a specific investor.
Al-Quwaiz explained that the level of development is largely natural, and in most of the world’s markets the stock market develops and reaches maturity, followed by the development of the debt market, and Saudi Arabia is at this stage now.
Al-Quwaiz said: We started to cover the yield curve with government debt issuances, and last year there was a complete update of the offering regulations, and issues guaranteed by assets, as it is already the community of investors began to diversify and most of the demand for government debt instruments from investors from Outside the Kingdom, it is also important to maintain the share of small investors in the financial market to support liquidity. We do not prefer one category over another, but our goal is to diversify investments.
It is mentioned that, the work of the financial sector conference was launched today at the King Abdulaziz International Conference Center, in Riyadh, under the patronage of the Saudi monarch, King Salman bin Abdulaziz, and participated in the conference organized by the Ministry of Finance, the Saudi Arabian Monetary Agency, and the Market Authority The Ministry of Finance has about 2000 participants representing the leaders of the financial and business sectors locally, regionally and globally.
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