CITC, Tadawul sign MoC to encourage listings of service providers

Logos of Tadawul and CITC

The Communications and Information Technology Commission (CITC) signed a memorandum of cooperation (MoC) with the Saudi Exchange (Tadawul) to enhance the investment environment in the information and communication technology (ICT) and postal sectors, as well as the delivery applications.  

The move will also encourage service providers in these sectors to list on Tadawul and enjoy the advantages and benefits available to listed companies.  

Both parties will exchange support and information in areas of common interest, according to their respective competencies. They will also boost cooperation to provide effective initiatives and measures related to educating and raising awareness of service providers in the sectors regulated by CITC.   

The MoC will also provide them with information about the mechanism and benefits of listing on Tadawul and enabling them to do so.   

Listing on the stock market increases investment opportunities, contributes to the expansion of companies and allows them access to new markets and innovation of new products, in addition to increasing corporate governance within a quality regulatory framework and high institutional value.  

The MoC comes within the framework of CITC's efforts to incentivize investments and stimulate the ICT and postal sectors, as well as delivery applications by various means, including encouraging service providers to list on Tadawul to benefit from the advantages provided to listed companies, as well as provide necessary advice to succeed.  

Tadawul is the largest financial market in the GCC and one of the largest financial markets in the world in terms of market value. It is also considered a partner of success for many leading Saudi companies in various vital sectors, according to CITC.