CMA’s Financial Leadership Program 2020 achieves strategic objectives, outcomes: El-Kuwaiz

Mohammed El-Kuwaiz, Chairman of Capital Market Authority 

The Capital Market Authority (CMA) witnessed the end of its strategic plan “Financial Leadership Program 2020”, which was developed by the Saudi market regulator in line with Vision 2030, said board chairman Mohammed El-Kuwaiz.

According to the CMA annual report for 2020, the most important outcomes of the three-year program which began in 2017 are as follows:

- The total number of listed companies and funds grew by 7.6% to 213 in 2020, from 198 in 2017. Foreign investors’ ownership surged 195.9% to SAR 208.3 billion by the end of 2020. Foreign investors owned 12.8% of total free float shares in the Saudi Stock Exchange (Tadawul). Foreign investments stood at SAR 70.4 billion by the end of 2017.

- Assets under management (AUMs) reached SAR 612 billion in 2020, a rise of 57% from SAR 391 billion in 2017.

- Financial institutions reported a 53% rise in total revenue to SAR 7.8 billion in 2020, compared to SAR 5.1 billion in 2017.

- Litigation time decreased by 50% from 17.3 months in 2017 to 8.6 months in 2020.

- The market raised SAR 23 billion funds from share offerings in 2020, compared to SAR 105 billion in 2017. The market value of stocks and debt instruments surged 335% to SAR 9.8 trillion in 2020, compared to SAR 2.2 trillion in 2017.

- The total number of Financial Technology Experimental Permit – ExPermit hit 15 by the end of 2020.