Ministry of Labor adds listed companies to ‘Al-Safwa’ program

25/12/2019 Argaam

 

Saudi Arabia’s Ministry of Labor and Social Development added all listed companies on the Saudi Stock Exchange (Tadawul) to “Al-Safwa” program, in collaboration with the Capital Market Authority (CMA) and Tadawul.

 

The ministry said in a statement that the move is considered one of the government’s stimulus measures to these companies due to their institutional excellence, high transparency, and added value.

 

Moreover, it aims to incentivize and encourage private companies to offer and list their shares on the stock market, an initiative launched by the Saudi Council of Economic and Development Affairs to achieve the Saudi Vision 2030.

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