Dr. Abdulrahman Al-Tuwijri: Cooperation between CMA and Tadawul to launch new services to investors and listed companies through “Tadawulaty” system
11/10/2011

​His excellency Dr. Abdulrahman Al-Tuwaijri, chairman of the Capital Market Authority,  emphasized that the continuous development of the Saudi Capital Market and developing appropriate mechanisms and tools is the Authority’s approach to increase transparency, fairness, and raise the efficiency of the market. He explained that CMA and the Saudi Stock Exchange (Tadawul) have completed their preparations to launch a new set of services that are important to investors of all kinds and listed companies in the capital market. This is considered as an update to the “Tadawulaty” system which provided e-voting services and viewing the holding reports and portfolios and so on. These services will be launched starting from this month (Oct. 2011).

Al-Tuwaijri explained that as one of the authority’s initiatives to activate the role of investors in the market and increase their awareness of their rights in listed companies in which they own securities, Tadawul has developed the dividends reports through “Tadawulaty” that enables investors to inquire about dividends entitlements. This service would help in raising the efficiency of the follow up mechanism for dividends of all companies in an easy and accessible way. He also emphasized on the importance of the listed companies providing Tadawul with the information regarding dividends so shareholders can find any accrued dividends that they didn’t receive.

The chairman also noted that the “Trading ban” service is important in applying the Listing rules and regulations. It is also important in raising the compliance level and promoting self-censorship in listed companies. This service allows an electronic trading ban on board members and executives and their first degree relatives who meet the instructions of trading ban during the periods preceding the results announcement of the listed companies which are identified by CMA.

Dr. Al-Tuwaijri urged investors to take advantage of the service for stocks certificates queries, so they can deposit it in their investment portfolios. This would contribute to trading stocks easily, a rapid access to cash dividends, accelerating the implementation of the dividends resulting from a grant or fragmentation or merger and facilitate mortgage equity, rights issue subscription and others.

Tadawul will also launch “Tawasul” service to enable listed companies to communicate directly with shareholders. This would help companies to strengthen their relationship with their shareholders for the application of best practices relating to investors relations.

In conclusion, Dr. Al-Tuwaijri stressed that the “Tadawulaty” service is considered one of the important steps to achieve the future and ambitious vision of the Saudi Capital Market.  This aims to activate the role of investors of all kinds and enable them to participate in the market and exercise their rights more effectively. He called on all investors to register for “Tadawulaty” to take advantage of all available services