​The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its fourth term to comprise 12 part-time members from market participants, experts, specialists and experienced college professors. The Committee's composition took into consideration a more expanded representation of market participants. The members are as follows: Mr. Ayman Mohammed Alsayari, Deputy Governor for Investment, Saudi Arabian Monetary Authority (SAMA); Mr. Suhail Mohammad Abanmi, General Supervisor of Internal Trade Deputyship, Ministry of Commerce and Investment (MCI); Mr. Fawaz Mohammad Al-Fawaz, Executive VP of Finance, National Industrialization Company (Tasnee); Mr. Rakan Abdullah Abunayyan, Chief Investment Officer at Abunayyan Holding; Mr. Abdullah Salah Alsuweilmy, CEO, AMAD International; Mr. Abdulaziz Abdulmohsen Bin Hassan, CEO, Credit Suisse, Saudi Arabia; Mr. Khalid Abdullah Al-Hussan, CEO, The Saudi Stock Exchange (Tadawul) Dr. Zeyad Bin Samir Khoshaim,  Founder & Partner, Khoshaim & Associates in cooperation with Allen & Overy; Mr. Abdulaziz Saud Alshubaibi, Partner at Ernst & Young;  Mr. Abdulaziz Abdulrahman Alkhamis, Vice Governor for Investment Affairs at the Public Pension Agency (PPA); Mr. Mutlaq Hamed Al-Buqami, Editor in Chief, Maaal Newspaper; and Dr. Abdullah Abdulrahman Al-Shuweir, Secretary General and Executive Director, Higher Education Fund.

Previously, the CMA Board issued a resolution on 2/11/1434H (8/9/2013) to approve the CMA’s Advisory Committee Regulations pursuant to the Capital Market Law (CML). This came in the context of enabling effective communication between the CMA and all different market participants, and creating a regulated mechanism for such interaction in order to support the CMA in fulfilling its functions and achieving its goals.

On this occasion, the CMA Board has extended its gratitude to the Committee members at the previous term for their distinguished efforts and contributions on all areas that would develop the capital market and protect investors.

The Board has also appreciated the role played by the Committee as an advisory body  for any issues that might be studied at the request of the CMA Board, discussing topics and suggestion brought by market participants and seeking their feedback about any proposed changes or new policies the CMA wishes to implement as well as issues deemed important by the Committee to be raised.

During the past term, the Advisory Committee looked into several issues and provided advice and recommendations thereof; the most important of which were: Sukuk and debt instruments market in KSA, corporate conversion from Saudi Organization for Certified Public Accountants-SOCPA’s accounting standards into International Financial Reporting Standards (IFRS), enabling the role of independent directors, convergence of interest in portfolio management between investors and investment managers, sector and market information disclosures in annual reports, best practices in auditing offices which audit listed companies, and creating a market for energy trading.

The Committee also discussed a wide spectrum of other issues such as: Special Purpose Entities rules, draft articles of association of a Special Purpose entities, CMA’s Program to Achieve KSA Vision 2030, Listing Rules in the second market, and quarterly financial statements for the fourth quarter.

Brief information of the Committee's members at its fourth term can be viewed on the CMA’s website via the following link:

Advisory Committee