​The Sukuk Conference, titled (Sukuk Market - challenges and opportunities) organized by the Capital Market Authority (CMA) in collaboration with the World Bank, will be held on the 7th of Rabi' I, corresponding to 6th of December 2016. It will discuss the role of debt markets in supporting the economic growth in addition to other several topics discussed in five sessions. Government officials and representatives from the World Bank and the private sector, as well as economists and financial partners in the capital market will participate in the conference.

Among the speakers in the conference will be His Excellency Mr. Mohammed Aljadaan, the Minister of Finance, and Mr. Mohammed El-Kuwaiz, Vice Chairman of the CMA.

The conference sessions will include topics such as: elements of Sukuk markets, dynamics of Sukuk markets, establishment of an effective environment for Sukuk market, regulatory issues and governance in the Sukuk market, and the role of debt markets in economic growth.

The CMA pointed out that the conference aims to achieve its strategic objectives, which include deepening the capital market and encourage the issuance of debt instruments, in addition to promoting the economic development of the Kingdom within the 2030 Vision.

Furthermore, the CMA is working hard to develop the debt instruments market in the Kingdom due to its importance in national economy, and being a major support to the funding of development projects. As the introduction of debt instruments market and its continues flourish depends on a combination of success elements associated with the CMA and third parties, this would require coordination with those parties and they all need to agree on the importance of Sukuk and debt instruments market in the future as a main financing source to support commercial banks.

Accordingly, the CMA is working to develop a unified strategic direction for the future of the debt instruments market, which would consequently require consensus in the general policies among decision-makers, and that each party should do its role in relation to the components and elements of the development of the market.