Latest news with #RegulatoryFramework
Times of Oman
27-05-2025
- General
- Times of Oman
Ministry of transport organises workshop on Regulatory Framework for National Data Governance and Management
Muscat: The Ministry of Transport, Communications and Information Technology on Tuesday organised a workshop on the 'Regulatory Framework for National Data Governance and Management'. The two-day workshop, attended by representatives of government units and data management specialists, is being held as part of the ministry's efforts to raise public awareness and enhance understanding of the 'Regulatory Framework for National Data Governance and Management'. The opening ceremony was held under the auspices of Dr. Ali bin Amer Al Shidhani, Undersecretary of the Ministry of Transport, Communications and Information Technology for Communications and Information Technology. The workshop seeks to ensure that beneficiaries get first-hand knowledge about the above-mentioned framework and understand its objectives and scope of application, define the roles and responsibilities of government units and provide a detailed account of the required practical training. The workshop included a visual presentation on the 'Regulatory Framework for National Data Governance and Management', which aims to unify practices across government administrative units. It also included in-depth study of the three main documents of the above-mentioned framework. The first document outlines requirements for data governance and management, with the goal of establishing unified and comprehensive practices within government units. It lays emphasis on 13 areas of data governance and management. The second document introduces a "Manual for Establishing a Data Governance and Management Office". It highlights elements necessary for supporting government units in establishing an administrative division specialized in data governance and management, as part of steps towards digital transition. The third document specifies the standard methodology for assessing compliance levels, the implementation priorities and evaluation criteria, with the prime objective of enabling government departments to comply with national data governance and management policies.
Zawya
26-05-2025
- Business
- Zawya
The CMA calls for public consultation on the draft regulatory framework for the offshore securities business license
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the Draft Regulatory Framework for the Offshore Securities Business License. The consultation period will last for 30 calendar days, ending on 03/01/1447H, corresponding to 28/06/2025. The proposed draft aims to enhance the Kingdom's position as a regional and global financial hub for securities by enabling local capital market institutions and attracting a number of international capital institutions, by granting them an Offshore Securities Business License through their regional headquarters licensed by the Ministry of Investment, and by adopting the regulatory framework for this activity. According to the proposed draft, the CMA will allow capital market institutions, both local and international, to apply for an Offshore Securities Business License, provided they obtain a regional headquarters license from the Ministry of Investment. This Offshore Securities Business License will enable such institutions to conduct securities activities outside the Kingdom, as well as manage funds investing in securities within the Kingdom. These services may be offered to foreign clients abroad, in addition to a specified category of local clients. The proposed draft includes a set of facilitations for obtaining the Offshore Securities Business License. These include eased requirements related to legal structure, minimum paid-up capital, registration of required positions, financial adequacy obligations, and other relevant conditions, aligned with leading international standards and global best practices suitable for the Saudi capital market. The CMA is also working to enable holders of the Offshore Securities Business License to establish investment funds in the Kingdom with flexible structures through its strategic initiative titled "Enabling the Establishment of More Flexible Fund Structures". It also aims to enhance investment opportunities in regional financial markets and expand the client base by allowing engagement with sovereign wealth funds and pension funds in the Kingdom. Furthermore, a legal entity affiliated with a local capital market institution and holding a license from the Ministry of Investment will also be eligible to apply for the Offshore Securities Business License. The proposed draft will contribute to diversifying the investor base associated with capital market institutions, in addition to enhancing the volume of assets under management in the Saudi capital market, positively impacting the attractiveness of the local market. The proposal to grant the license aligns with efforts to develop the financial sector and complements the Regional Headquarters Program as it pertains to financial institutions offering securities services. This initiative is expected to help attract knowledge and facilitate the transfer of expertise within the securities sector. It is worth noting that the license will be subject to the laws and regulations of the Kingdom, including the Capital Market Law and its implementing regulations, in accordance with the specific regulatory framework defined in the relevant regulations based on the scope of securities business conducted. The license will carry fewer regulatory requirements than existing licenses. The CMA emphasized that the comments of relevant and interested persons shall be taken into full consideration for the purpose of approving the final Proposed Amendments, which in turn shall contribute to the aim of enhancing and developing the regulatory environment. Opinions and comments can be received through any of the following: •The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the National Competitiveness Center through the following link: ( •The prescribed form through the following email: (
Argaam
25-05-2025
- Business
- Argaam
CMA seeks public feedback on draft regulation for offshore securities business license
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the draft regulatory framework for the offshore securities business license. The consultation period will last for 30 calendar days, ending on June 28, 2025, the regulator said, in a statement. The proposed draft aims to enhance the Kingdom's position as a regional and global financial hub for securities by enabling local capital market institutions and attracting a number of international capital institutions, by granting them an Offshore Securities Business License through their regional headquarters licensed by the Ministry of Investment, and by adopting the regulatory framework for this activity. According to the proposed draft, CMA will allow capital market institutions, both local and international, to apply for an Offshore Securities Business License, provided they obtain a regional headquarters license from the Ministry of Investment. This Offshore Securities Business License will enable such institutions to conduct securities activities outside the Kingdom, as well as manage funds investing in securities within the Kingdom. These services may be offered to foreign clients abroad, in addition to a specified category of local clients. The proposed draft includes a set of facilitations for obtaining the offshore securities business license. These include eased requirements related to legal structure, minimum paid-up capital, registration of required positions, financial adequacy obligations, and other relevant conditions, aligned with leading international standards and global best practices suitable for the Saudi capital market. The CMA said it is also working to enable holders of the Offshore Securities Business License to establish investment funds in the Kingdom with flexible structures through its strategic initiative titled "Enabling the Establishment of More Flexible Fund Structures". It also aims to enhance investment opportunities in regional financial markets and expand the client base by allowing engagement with sovereign wealth funds and pension funds in the Kingdom. Furthermore, a legal entity affiliated with a local capital market institution and holding a license from the Ministry of Investment will also be eligible to apply for the Offshore Securities Business License. The proposed draft will contribute to diversifying the investor base associated with capital market institutions, in addition to enhancing the volume of assets under management in the Saudi capital market, positively impacting the attractiveness of the local market. The proposal to grant the license aligns with efforts to develop the financial sector and complements the Regional Headquarters Program as it pertains to financial institutions offering securities services. This initiative is expected to help attract knowledge and facilitate the transfer of expertise within the securities sector. The license will be subject to the laws and regulations of the Kingdom, including the Capital Market Law and its implementing regulations, in accordance with the specific regulatory framework defined in the relevant regulations based on the scope of securities business conducted. The license will carry fewer regulatory requirements than existing licenses. The regulator also emphasized that the comments of relevant and interested persons shall be taken into full consideration for the purpose of approving the final Proposed Amendments, which in turn shall contribute to the aim of enhancing and developing the regulatory environment.
Arab News
26-03-2025
- Business
- Arab News
CMA proposes easing investor criteria for Nomu to boost participation, liquidity
JEDDAH: Saudi Arabia's Capital Market Authority has proposed easing investor criteria for Nomu, the Kingdom's parallel market, aiming to expand participation and improve liquidity. The proposed amendments suggest reducing the minimum transaction requirement for individual investors from SR40 million ($8 million) to SR30 million over a 12-month period. Additionally, the requirement for quarterly trading activity would be eliminated. Under the new regulations, board and committee members of companies listed on Nomu would also be eligible to qualify as investors. The project aims to reserve the term 'Qualified Investor in the Parallel Market' for eligible categories, amend the minimum transaction value required for classifying a natural person as a qualified investor, and rank board members and committee members of listed companies as suitable to invest. Saudi Arabia accounted for 31 percent of the region's total initial public offering proceeds in 2024, making it the second-largest contributor after the UAE. The Saudi Exchange, Tadawul, witnessed 14 IPOs on its main market, collectively raising $3.8 billion. Nomu also saw 28 IPOs, generating $297 million. The CMA called upon relevant and interested persons participating in the capital market to share their feedback on the draft for 30 days, ending on April 28. Earlier in March, the CMA called for feedback on the draft 'Regulatory Framework for Debt Instruments Offering Platforms and Investing in Them,' which aims to develop debt instrument offerings by licensed capital market institutions for securities crowdfunding. With the consultation period to end on April 23, the draft outlines regulatory and licensing requirements for offering and investing in debt instruments, aligning with developments in the capital market. Key proposals include allowing organizations to present debt instruments in the sukuk and debt market and enabling companies with a FinTech Experimental Permit to obtain the necessary license to operate as capital market institutions. Organizations will need an arranging license to offer debt instruments through crowdfunding platforms. The draft also introduces requirements for safeguarding client funds and registrable functions for licensed establishments. The proposal aims to expand the role of capital market institutions in financial technology, enhance the debt market, and increase participation in securities crowdfunding, supporting the CMA's objectives.
