Two MoUs signed on second day of Saudi Capital Market Forum 2023
Saudi Exchange Signs MoU with Saudi Venture Capital Company
Riyadh, Saudi Arabia, 13 February 2023: The Saudi Exchange signed a Memorandum of Understanding (MoU) with Saudi Venture Capital Company (SVC) on the second day of the annual Saudi Capital Market Forum 2023, held under the patronage of HE. Muhammed El-Kuwaiz, the Chairman of the Capital Market Authority.
SVC is a government venture capital firm established in 2018 to support startups and SMEs in the Kingdom by investing USD 1.5 billion through funds and co-investment in startups.
The partnership between Saudi Exchange and SVC aims to stimulate investment in early pre-IPO stage specialist funds that are managed by financial institutions in the private sector. The Saudi Exchange will support startups and SMEs that intend to list in the Kingdom by providing advisory services and training to help them better understand the dynamics of the Saudi capital market.
Saudi Tadawul Group signs MoU with Clarity AI Information Technology Limited
Riyadh, Saudi Arabia, 13 February 2023: Today Saudi Tadawul Group signed an MoU with Clarity AI Information Technology (Clarity AI) on the second day of the annual Saudi Capital Market Forum 2023, held under the patronage of HE. Muhammed Al-Quwaiz, the Chairman of the Capital Market Authority.
Clarity AI will provide its platforms and services to support listed issuers and investors in better understanding and analysing sustainability practices while monitoring performance across international and national ESG frameworks. The AI platform has the capabilities to support both larger companies and those who are looking to begin their sustainability journey.
The collaborative agreement between Saudi Tadawul Group and Clarity AI will enable international investors to screen and report based on existing and upcoming national benchmarks with the aim of enhancing disclosure practices and frameworks throughout the region.
The Saudi Capital Market Forum brings together over 2,000 issuers, investors, and other market participants for two days of dialogue dedicated to advancing regional capital markets. The event is a key calendar moment for the finance industry, regionally and globally.
