CMA’s new 3-year strategy supports investor protection: ElKuwaiz

The Capital Market Authority (CMA) achieved many ambitious goals in its previous strategies for our financial market, which helped the Saudi financial market rank among the world’s top 10 markets, Chairman Mohammed ElKuwaiz said.

Therefore, the authority’s recently announced strategy aims to continue this journey by reinforcing the role of the financial market in financing and the overall economy.

ElKuwaiz added that one of the key aspects of the new strategy focuses on building a dynamic debt market, growing the asset management industry to compete globally, attract more investments into the national economy, and support the stock market and financial technology sectors to stand out in the region.

With the steady increase seen recently in the number of penalties for violators and compensations for those affected, the time has come to dedicate an independent pillar in the CMA’s new strategy for investor protection. Confidence is one of the most important components of a successful market, while safeguarding rights and funds is a key guarantee that investors and market participants need, he added.

The CMA announced on Sept. 12 the approval of its strategic plan for 2024-2026, which focuses on three main pillars, encompasses nine strategic objectives, and includes more than 40 initiatives.