Mohammed Al-Rumaih, CEO of the Saudi Exchange (Tadawul)
Mohammed Al-Rumaih, CEO of the Saudi Exchange (Tadawul), stated that Saudi Arabia is working on issuing green bonds locally following its success with international green bonds.
During the 2024 Arab Federation of Capital Markets (AFCM), held in Doha, Al-Rumaih highlighted that over 50% of companies report on their environmental, social, and corporate governance practices, which are not yet mandatory. Tadawul is focused on gradually implementing these practices.
He noted that Saudi companies have experienced increases in credit ratings due to their adoption of these governance practices.
Al-Rumaih emphasized Tadawul's commitment to ensuring that both investors and issuers are informed about these practices. He stressed the importance of integrating these practices in all of Tadawul's modern operations and market development decisions.
Saudi Arabia is working to be a leader in the global digital transformation, said Minister of Communications & Information Technology Abdullah Alswaha.
In a discussion at the World Economic Forum, the minister highlighted that the Kingdom is at a pivotal point, transitioning from industrial to digital sectors, including artificial intelligence (AI).
He mentioned that Saudi Arabia is focused on attracting tech talents, fostering inter-sectoral collaboration to advance technology adoption, and using AI to reduce task completion times.
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