The First Saudi Capital Market Forum Concludes in Riyadh

Riyadh, 23 March 2022: The Saudi Tadawul Group concludes the inaugural Saudi Capital Market Forum 2022, held under the patronage of HE. Mohammed El-Kuwaiz, the Chairman of the Capital Market Authority. During the forum, the Saudi Tadawul Group announced its intention to launch a bundle of enhancements to develop the post trade infrastructure, the largest in the history of the Saudi capital market. 

The forum brought together issues, investors, private companies, government entities and financial institutions for a day of dialogue dedicated to advancing the Saudi capital market.

Ahead of the forum, five workshops with more than 500 participants explored topics related to the capital markets industry including direct listings, exchange traded funds, private v. public financing, Environmental Social Governance (ESG) and the derivatives market.

Seven panels debated topics from financing SMEs to economic growth and capital market, developing the Saudi capital market, creating an attractive financing and trading venue, the Saudi capital market from an international viewpoint, establishing a leading capital market infrastructure and Saudi capital market aspirations. 

Speakers included HE Mohammed El-Kuwaiz and executives from Muscat Securities Market, Bahrain Clear, Saudi Arabia’s Financial Sector Development Program, HSBC Saudi Arabia, Goldman Sachs, Citibank, Aramco, Edaa, Muqassa and Saudi Exchange and other prominent entities in the region.

The Forum concluded with the presentation of the Saudi Capital Market Awards, in collaboration with CFA Society Saudi Arabia and the Middle East Investor Relations Association (MEIRA).

The Saudi Capital Market Awards were established to recognize excellence displayed by market participants, to apply the highest standard of practices, promoting fair competition and developing Saudi Arabia’s capital market, in line with Vision 2030.

This year’s Saudi Capital Market Award winners are: Saudi Basic Industries Corporate (SABIC) for “Best ESG Award”, Al Rahji Bank for “Best Investor Relations Program Award”, stc Solutions for “Most Notable Listing Award” on the  Main Market,  Banan Real Estate Company for “Most Notable Listing Award” on the Nomu – Parallel Market, JP Morgan Chase & Company for “Best Merger and Acquisition House Award”, SNB Capital for the awards of “Best Equity Capital Markets House”, “Best Asset Manager”, and “Best Investment Bank”, HSBC Saudi Arabia for “Best Debt Capital Markets House Award”, Al Rahji Capital for the awards of “Best Research House” and “Best Broker”, and Riyad Capital for “Best Custodian Award”.

His Excellency, Mohammed El-Kuwaiz, Chairman of the Capital Market Authority said: “The Saudi capital market is set for a period of growth, with several IPOs in the pipeline. Against this backdrop, the inaugural Saudi Capital Market Forum set the stage for discussions and agreements that will further the development of the market as we increase access to investors and issuers. I look forward to continuing this dialogue as we create a thriving financial sector to enable and support Saudi Arabia’s Vision 2030.”

Eng. Khalid Al-Hussan, Saudi Tadawul Group CEO, commented: “The inaugural Saudi Capital Market Forum starts a dialogue between issuers, investors, private companies, government entities and financial institutions, with an aim to access the capital of tomorrow as we all aspire to develop the Saudi capital market to be at par with the most advanced markets in the world. This forum is in line with the directives of the Financial Sector Development program under Vision 2030, and we are pleased to see it as a platform to facilitate partnerships and shape the future of the Saudi capital market by hosting leaders across the region, in workshops and panel discussions that facilitate agreements shaping the future of the capital market in Saudi Arabia, ensuring the continuous positioning of the Saudi capital market as an attractive investment destination that facilitates the needs of all its participants.” “Additionally, I would like to thank all our sponsors for their support and congratulate the winners of the Saudi Capital Market Awards. Their individual successes showcase collective progress in advancing and strengthening the Saudi capital market and I look forward to next year’s entries,” he added.

Commenting on the second edition of the Saudi Capital Market Awards, Ahmad Kordi, CFA President of CFA Society Saudi Arabia said: “CFA society Saudi Arabia is proud to further its partnership with the Saudi Exchange through the second edition of the Saudi Capital Market Awards. This year we have expanded the number of awards from four to ten awards covering a wider range of capital market activities. We trust that the Awards will promote one of the key pillars of the society’s mission which is to promote the highest standards of professional excellence and will propel our financial market to new frontiers.”

Faisal Al-Modlij, Vice Chairman, MEIRA (Saudi Chapter) said: “The Middle East IR Association (MEIRA) is proud to support the Best IR Program and Best ESG Awards. These awards showcase the growing importance of best practice investor communications and are a testimony to the rising profile of IR in the Saudi capital market eco-system. We applaud all participants.”