Saudi capital market boosted regional, global standing in 2024: Elkuwaiz

Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA)

Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said the Saudi capital market’s standing has been underpinned both regionally and globally in 2024.

The Saudi capital market, according to the top executive, was ranked first among G20 countries in several global metrics, including financial markets, market capitalization, shareholders' equity, and venture capital.

Commenting on the CMA's 2024 annual report, Elkuwaiz noted that the Saudi capital market recorded a historic leap in assets under management, surpassing SAR 1 trillion by the end of 2024. Additionally, exchange-traded funds (ETFs) soared 935% compared to 2023, while funds of funds surged 126.5% to more than SAR 10 billion last year.

As for the sukuk and debt instruments market, the Chairman highlighted that the value of issuances leapt 20% to SAR 663.5 billion by 2024-end, with total proceeds of SAR 40.4 billion. This reflected the growing role of the Saudi capital market in financing major national projects.

Regarding investor protection, Elkuwaiz pointed out that the compensations awarded as per final rulings of the Committee for Resolution of Securities Disputes exceeded SAR 389 million in 2024, an increase of 59% compared to 2023. This followed a drop in the average litigation duration to approximately four months.