​The Capital Market Law, pursuant to Royal Decree No. (M/30) dated 2/6/1424H - 31/7/2003, was issued to create a transparent, fair and regulated market that keeps pace with the current developments in other international financial markets. The Capital Market Law articles are formulated to regulate and develop the capital market, regulate the issuance of securities and supervise its transactions as well as supervising authorized persons licensed by CMA. In addition, it protects investors and citizens from illegal practices.