Saudi stock market boosted regional, global standing in 2024: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said the Saudi stock market enhanced its standing both regionally and globally in 2024.
He added that the market ranked first among G20 countries in several global indicators, including financial markets, market capitalization, shareholders' equity, and venture capital.
Commenting on the CMA's 2024 annual report, Elkuwaiz noted that the 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.
As for the sukuk and debt instruments market, the Chairman highlighted that the value of issuances leapt 20% to SAR 663.5 billion, with total proceeds of SAR 40.4 billion. This reflects the growing role of the 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, an increase of 59% compared to 2023. This coincided with a reduction in the average litigation duration to approximately four months.
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