Capital Market Institutions Committee Holds Capital Market Institutions Forum to Discuss Digital Transformation and its Role in Introducing Foreign Investments to Capital Market

The “Capital Market Institutions Committee (“CMIC")" held, Tuesday, the “Capital Market Institutions Forum" to discuss the digital transformation in the Capital Market Institutions and the role played by such institutions in introducing the foreign investments to the capital markets.

The Forum's first dialogue session discussed the digital transformation of the local Capital Market Institutions compared to the global digital transformation, and the status of the digital transformation in said institutions, key obstacles faced in the process of digital transformation and the key sectors to put focus on in digital transformation process in the Capital Market Institutions. Risks of rapid digital transformation and how to protect information were discussed at the end of the session.  

The second dialogue session discussed how attractive are the investment instruments and products available in the Saudi capital market and the role of the foreign investment in supporting the capital market. Further, the session also discussed the role of the Capital Market Institutions' territorial and external branches in attracting the global investment and the experience of the global Capital Market Institutions in the Saudi market.  

During the Forum, many workshops were held on the challenges and opportunities in the real estate investment funds, capital market's investment products, and development of the human resources in the Capital Market Institutions. The fourth workshop revolved around the Financial Technology (FinTech).

The Chairman of the Board of the Capital Market Authority, HE Mohammed bin Abdullah Elkuwaiz stressed the important role played by the Capital Market Institutions in supporting the economy and boosting the capital market's capabilities on providing suitable investment alternatives for investors.

In his speech in the Forum, Elkuwaiz stressed that availing the entrance to the capital market for the foreign investors represents opening a channel that connects the Saudi market with the whole world. “The said channel has been efficient and the Initial public offering (IPOs) have been attractive to investors, thus, the liquidity shall benefit not only the capital market but also the economy in general", Elkuwaiz added.

From her side, the Chairman of Capital Market Institutions Committee, Muneera Aldossary stated that the Kingdom's economic capabilities placed it among the great powers, ranking the Kingdom as one of the top 20 largest economies in the world. This comes as a natural result to what the Kingdom witnessed of economic reforms during the last few years within the strategy of the Kingdom's Vision 2030. 

The progress achieved by the capital market and its institutions is largely attributed to the role played by the economic improvement achieved simultaneously on the Kingdom's level. The above had eminent impact on the orientation of a lot of foreign investors all over the world towards the Kingdom and its capital market, and the results of the same are obvious in the recorded numbers achieved in foreign investment volume which leapt in accelerated paces successively during few years, Aldossary added.