Saudi stock market boosted regional, worldwide standing in 2024: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA)
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said the Saudi capital market’s standing has been underpinned each and each domestically and globally in 2024.
The Saudi capital market, constant with the close govt, modified into as soon as ranked first among G20 nations in loads of worldwide metrics, in conjunction with monetary markets, market capitalization, shareholders’ equity, and venture capital.
Commenting on the CMA’s 2024 annual portray, Elkuwaiz accepted that the Saudi capital market recorded a ancient jump in assets below administration, surpassing SAR 1 trillion by the tip of 2024. Furthermore, commerce-traded funds (ETFs) soared 935% in comparison to 2023, while funds of funds surged 126.5% to bigger than SAR 10 billion final yr.
As for the sukuk and debt devices market, the Chairman highlighted that the price of issuances leapt 20% to SAR 663.5 billion by 2024-close, with whole proceeds of SAR 40.4 billion. This reflected the growing feature of the Saudi capital market in financing predominant national projects.
Concerning investor protection, Elkuwaiz identified that the compensations awarded as per final rulings of the Committee for Resolution of Securities Disputes exceeded SAR 389 million in 2024, an expand of 59% in comparison to 2023. This followed a tumble in the moderate litigation duration to approximately four months.
