CMA Chairman: SMEs Make Up 30% of Listed Companies in Saudi Market
Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), highlighted significant progress in supporting small and medium enterprises (SMEs) in Saudi Arabia's capital market. Speaking at the SME Support Council during 'Finance Week,' hosted by Monsha'at (the Small and Medium Enterprises General Authority), ElKuwaiz noted that the Kingdom has made considerable efforts in recent years to encourage public listings and diversify financing options for SMEs.
He pointed out that companies in the Saudi market now have access to nine different financing options, most of which were introduced recently. Among the key initiatives, the launch of the Nomu Parallel Market stands out as a major enabler, easing the path for SMEs to enter the capital market.
CMA
According to a CMA press release, SMEs now represent 30% of listed companies in the Saudi capital market. Fourteen companies have successfully transitioned from Nomu to the main market, demonstrating the effectiveness of the CMA's supportive investment environment.
ElKuwaiz reported that the Nomu Index has grown tenfold since its inception, with market capitalization soaring 26 times to nearly SAR 60 billion. Trading volumes also saw a significant boost, with liquidity increasing eightfold and total trades reaching SAR 14 billion in 2024. The CMA has overhauled listing requirements to align with global best practices, introducing direct listings and lowering regulatory hurdles through partnerships with strategic stakeholders.
To further encourage listings, over 14 incentives have been launched in collaboration with various entities, targeting areas such as government procurement, credit ratings, and evaluation standards for listed firms. Fintech
ElKuwaiz also underscored the growing influence of financial technology (fintech) in the capital market, noting that the sector's revenue surged by 105% compared to 2023. He emphasized the importance of credit ratings and company evaluations in improving access to financing, particularly through debt instruments, which are vital for sustainable market growth.
Related Topics :
Kafalah Program Boosts Saudi SMEs with 17% Growth in Q1 2025
Saudi Arabia's SMEs Record Highest Employment Growth in 10 Months
Saudi Post SPL Wins 2024 TradePost Global Award for its SMEs Platform
CMA Launches Public Consultation on New Investment Product for Parallel Market
Short link :
Post Views: 13
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
7 hours ago
- Leaders
Saudi FM Arrives in Jordan for Gaza Meeting
The Saudi Foreign Minister, Prince Faisal bin Farhan, has arrived in Amman, the capital of Jordan, to participate in a meeting on Gaza, according to the Saudi Foreign Ministry. On Saturday, Prince Faisal bin Farhan landed in Amman to take part in a meeting of the Ministerial Committee assigned by the Joint Arab-Islamic Extraordinary Summit on the developments in the Gaza Strip. The meeting will explore ways to support efforts to end the war and blockade on Gaza. The meeting originally aimed to coordinate a visit to Ramallah in the occupied West Bank, scheduled on Sunday. However, the visit was postponed due to Israel's decision to prevent the Arab delegation from meeting the President of Palestine, Mahmoud Abbas, according to Jordan's Foreign Ministry. The delegation, which include the foreign ministers of Saudi Arabia, Egypt, Qatar, Jordan and the UAE, condemned the Israeli ban as a 'blatant violation' of Israel's obligations as an occupying power. The Saudi Foreign Minister traveled to Jordan right after an official visit to Syria, where he met with the Syrian Transitional President, Ahmed Al-Sharaa, in Damascus. Prince Faisal was accompanied by a high-level economic delegation to discuss avenues for joint cooperation aimed at supporting Syria's economy, enhancing the development of its governmental institutions, and fulfilling the aspirations of the Syrian people, the Saudi Foreign Ministry said in a statement. The discussions led to the announcement of a Saudi-Qatari joint financial support package for Syrian public sector employees for three months, according to Saudi Gazette. 'This support aims to contribute to economic and social stability, improve living conditions, and reinforce development efforts in Syria,' Saudi Arabia and Qatar said in a joint statement. Short link : Post Views: 62
Leaders
7 hours ago
- Leaders
Albudaiwi Congratulates Shaikha Al Nowais on Historic UNWTO Appointment
Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, extended his heartfelt congratulations to Shaikha Al Nowais on her election as Secretary General of the United Nations World Tourism Organization (UNWTO) for the 2026–2029 term. Albudaiwi expressed deep pride in Al Nowais becoming the first Emirati and Gulf woman to assume this prestigious role in the organization's five-decade history. He emphasized that this milestone highlights both the esteemed international standing of the United Arab Emirates and the growing global influence of women leaders from the Gulf region. He noted that her election reflects the world's trust in the capabilities and leadership of Gulf women. Finally, he concluded by wishing Shaikha Al Nowais continued success in her new role and extended his best wishes for the UAE's ongoing security, prosperity, and progress under its wise leadership. Related Topics : UNWTO Recognizes Abo Noghta Castles, Tabab among World's Best Tourism Villages Saudi Arabia Gives Green Light to Licensed Companies to Export Flour Saudi Paper Manufacturing Company Signs €24.9M Deal with ABC Bank Crown Prince Announces 'Al-Alat Company Launch Saudi Pavilion Secures New York Architectural Design Awards at Expo Osaka 2025 Short link : Post Views: 2 Related Stories
Leaders
a day ago
- Leaders
Official Visit: Saudi FM Arrives in Damascus
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan arrived today, May 31, in Damascus on an official visit to Syria, along with a high-level economic delegation, according to the Saudi Press Agency. Promising Visit The Kingdom's delegation consists of Royal Court Advisor Mohammed bin Mazyad Al-Tuwaijri, Vice Minister of Finance Abdulmuhsen bin Saad Alkhalaf and Assistant Minister of Investment Dr. Abdullah Aldubaikhi. Deputy Foreign Minister for Economic and Development Affairs Abdullah bin Zarah and other several officials from various sectors are also part of the delegation. Saudi FM and Syrian FM During the visit, Prince Faisal is set to hold talks with Syrian President Ahmed al-Sharaa. Meanwhile, the Saudi delegation will hold a consultation session with their Syrian counterparts to explore new horizons for joint action. These talks and discussions seek basically to support Syrian economy and achieve the aspirations of Syrian people. Saudi-Syrian Relations Saudi Crown Prince and Syrian President In February, Syrian President visited Saudi Arabia and expressed his intentions to build strong ties with Arab and Western governments. Such relations have unfolded a new chapter for Syria's diplomatic relations after the collapse of the Assad regime in December 2024. New Era Saudi Crown Prine Mohammed bin Salman, US President Turmp and Syria's interim President Ahmed Al-Sharaa during Trump's Gulf tour. Since the fall of Al-Assad, the new Syrian government has been attempting to build strong relations with Western countries in order to alleviate the harsh sanctions of US and its allies imposed during Asaad's rule. Importantly, the US and the UK have recently lifted sanctions on Syria, allowing the new government to build its economy and welfare. Currently, the new government seeks to restore relations with Western and Arab countries as well as establish new diplomatic relations to boost its stability and security. Related Topics: Cyprus Grants Financial Support to Syrian Families to Resettle Erdogan Holds Talks with Syria's Sharaa in Istanbul Syria on Brink of Full-Scale Civil War, Warns Rubio Short link : Post Views: 127
