Saudi CMA Chairman Highlights SME Growth in Recent Market Listings

KSA, 01 October, 2024 :  Mohammed bin Abdullah Elkuwaiz, Chairman of the Capital Market Authority (CMA), reported that over 50% of the approximately 70 companies recently listed on the Saudi financial market are small and medium-sized enterprises (SMEs). He made this announcement during a dialogue session titled "Financial Markets as a Catalyst for Growth in Saudi Arabia" at the seventh CEO Forum in Riyadh.

Elkuwaiz praised the Saudi financial market for being the seventh-largest in the world, a testament to the national economy's robust performance. He emphasized that one of CMA's strategic goals is to enhance liquidity and create new opportunities for smaller companies.

The forum, organized by the General Authority for Small and Medium Enterprises (Monsha'at) under the theme "Opportunities to Enhance Business Growth," focused on developing a dynamic debt market and advancing the asset management industry to attract global investments.

Elkuwaiz also outlined CMA's efforts to expand financing channels, facilitate fund management, and stimulate market liquidity. Despite recent achievements, he acknowledged challenges such as increasing available offerings and expanding the investor base.

The CEO Forum gathered prominent international and local speakers, experts, and entrepreneurs, aiming to support the growth and development of SMEs in the Kingdom.

Source : www.zawya.com