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Published on the same date

CMA Recomposes its Advisory Committee

​The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its fifth term to comprise of 12 part-time members from market participants, experts, specialists and experienced college professors. The Committee's composition took into consideration a wider representation of market participants. The members are as follows: 

  • Mr. Rakan A. Abunayyan, Chief Investment Officer, Abunayyan Holding
  • Dr. Zeyad Bin Khoshaim, Founder & Partner, Khoshaim & Associates in cooperation with Allen & Overy
  • H.E. Mr. Suhail Abanmi, Governor, General Authority of Zakat and Tax (GAZT)
  • Mr. Abdulsalam Al-Manei, Deputy, Agency for Internal Trade, Ministry of Commerce & & Industry (MCI)
  • Dr. Abdulaziz H. Algaeed, Associate Professor of Economics, Dar Al Uloom University
  • Mr. Abdulaziz S. Alshubaibi, Partner, Ernst & Young Saudi Arabia
  • Mr. Abdulaziz A. Bin Hassan, CEO, Credit Suisse Saudi Arabia
  • Mr. Abdulaziz A. Alkhamis, Advisor, Alraidah Investment Company
  • Mr. Abdullah S. Alsuweilmy, Chairman, Saudi Air Navigation Services
  • Mr. Abdulwahab Al Betairi, Managing Partner, Watar Partners
  • Dr. Adnan Soufi, Founder & Managing Director, DAS Partners
  • Mr. Mutlaq Al-Buqami, Editor in Chief, Maaal Newspaper

The CMA’s Board had previously issued a resolution on 2/11/1434H (corresponding to 8/9/2013G) to approve the CMA’s Advisory Committee Regulations pursuant to the Capital Market Law (CML). The main purpose of this resolution is to enable 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’s Board would like to express its appreciation to the previous Advisory Committee for their great efforts and contributions, as well as their transparent and unbiased views and recommendations on all aspects which have develop the capital market and ensuring investors’ protection.
The Board has also appreciated the role played by the Committee as an advisory body by making recommendations and suggestions on any issues that might need to be explored at the request of the CMA’s Board, deliberating topics and suggestions highlighted by market participants and seeking their feedback on any proposed new or amendments to policies which the CMA wishes to adopt, as well as any issues raised by the Committee which are essential to the capital market industry.
During the previous term, the Advisory Committee had scrutinized on several important issues and had provided with their valuable views and recommendations, amongst others:

  • The Role of APs and Listed Companies in Handling Investor Complaints;
  • Evaluating the Effectiveness and Efficiency of Reporting Violation to Reduce Overall Market Violations;
  • The Role of Market Regulator in Supporting and Developing Venture Capital Funds and Private Equity;
  • Infrastructure Funds and Their Role in Promoting Growth and Economic Diversification to Achieve Kingdom of Saudi Arabia Vision 2030;
  • The fields in which investment funds specialized in financing and its requirements and regulations;
  • Standards for Imposing Fines on Violations of Financial Market Regulations;
  • High-Impact and Low-Impact Violations in the Capital Market Law and Corporate Law;
  • Hedge Funds & Their Suitability to Invest in Saudi Arabia;
  • Organizing Endowment Funds and Their Impact on the Capital Market In Saudi Arabia;
  • Methods to Develop the Financial and Research Industry Relevant to the Capital Market; and
  • ETFs Assets under Management in Saudi Arabia Compared to other Capital Markets.

The Advisory Committee had also discussed a wide spectrum on other issues such as the CMA's Program To Achieve Saudi Vision 2030 (Financial Leadership Program 2020), Mergers & Acquisitions Regulation Development Project, and Feasibility Study For The Establishment Of A Regulator For Audit Offices That Review Listed Companies Work. 

Brief information of the Advisory Committee's members for the fifth term can be viewed on the CMA’s website via the following link:

Advisory Committee