CMA Recomposes its Advisory Committee

The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its seventh 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: 

1. Mr. Amin bin Fahad Al Shady - Senior Vice President, Finance Sector, STC

2. Mr. Rashid S. Al Rashoud – Partner, Ernst & Young

3. Mrs. Rania M. Nashar – CEO, Samba Financial Group

4. Dr. Roland Bellegarde - Senior Advisor to CEO, Tadawul

5. Mr. Rayyan bin Mohammed Nagadi - CEO of the National Center for Privatization

6. Dr. Saleh Bin Hamad Al Shinifi - Consultant of Internal Auditing, Saudi Telecommunications Co. (STC)

7. Mr. Tariq Z. Al Sudairy - Managing Director & CEO, Jadwa Investment Company

8. Mr. Abdullah Bin Nasser Al Dawood - CEO of Serra Holding Group

9. Mr. Ali F. Almarzouki - Head of Compliance, NCB Capital

10. Mr. Emad S. Al Kharashi – Governor, General Authority for Awqaf 

11. Mr. Fahad Al Dehais Almalki - Managing Partner, AlDhabaan and Partners in association with Eversheds Sutherland

12. Dr. Mulhim H. Al Mulhim – Lawyer & Legal consultant, Founder of Al Mulhim Lawyers & Consultants

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:


  •     CMA’s strategic plan and the most important achievements
  •  Dual listing
  •  Financial derivatives market
  •  Financial Technology (FinTech) Experimental Laboratory and Robo-Advisory Business Model
  •  Authorized Persons Regulations & Securities Business Regulations development project
  •  Capital Markets Law Amendment
  •  REITs
  •  The policy of suspending the shares of listed companies
  •  Allow the Listed companies use the fair value model or revaluation to measure property and investment property
  •  Credit rating agencies

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

Advisory Committee