{"id":643706,"date":"2024-09-12T00:00:00","date_gmt":"2024-09-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/"},"modified":"2024-09-12T00:00:00","modified_gmt":"2024-09-12T00:00:00","slug":"tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/","title":{"rendered":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets"},"content":{"rendered":"

How the Tadawul and Capital Market Authority are positioning Saudi capital<\/strong> markets as a <\/strong>global leader:<\/strong> Over the past several years, the MENA region\u2019s capital markets \u201chave transformed quite significantly \u2014 from small, locally driven outfits to major global hubs that are becoming a growing constituent of the MSCI Emerging Market Index,\u201d EFG Holding CEO Karim Awad said at the EFG Hermes Annual Conference in London earlier this week. This transformation has been most apparent in Saudi and the UAE, Awad noted, \u201cwhere even amid global and regional turmoil, their capital markets have shown remarkable resilience with the recent IPO flow that is among the most active globally.\u201d<\/p>\n

Saudi capital markets in particular have seen marked growth underpinned by a growth <\/strong>and regulatory strategy<\/strong> geared towards placing the Kingdom as a leading global capital market, Saudi Exchange CEO Mohammed Al Rumaih and Capital Market Authority (CMA) Board Commissioner Abdulaziz Abdulmohsen Bin Hassan said in a fireside chat at the conference. <\/p>\n

\u201cYou name the metric, it\u2019s seen double- or triple-digit growth in the past five years,\u201d Bin <\/strong>Hassan says<\/strong>, pointing to qualified financial investors (QFIs), asset management, the debt market, and the number of financial institutions. <\/p>\n

It was about finding out what investors were lacking in terms of incentives \u2014 and <\/strong>delivering on that<\/strong>, said Bin Hassan. \u201cWhen the first QFI started back in 2017, there was a big constraint on the QFIs themselves. Since then, the CMA worked on relaxing the regulations itself to have more QFIs. So, for example, now you don't have to be a financial institution,\u201d he said. Instead, regulators now allow any institution that meets the minimum requirement of USD 500 mn in assets under management to access the Saudi market. Regulators also made it easier for non-resident foreign investors to enter Tadawul\u2019s parallel market, Nomu, without meeting QFI requirements, Bin Hassan noted. <\/p>\n

\u201cWe continue to think about and work on how we can make it easier for investors,\u201d<\/strong> Bin Hassan said. <\/p>\n

The same rationale applied to encouraging new paper in the market, according to Al<\/strong> Rumaih<\/strong>, who looked at the growth in the volume of listings on the Tadawul over the past several years. \u201cLast year, we had 35 listings. As of today, we\u2019ve had 35 listings year-to-date, and we expect that figure to surpass 50 by the end of 2024. That\u2019s compared to 2018, when we had maybe five listings over the course of the year,\u201d Al Rumaih said. <\/p>\n

In addition to the growth in volume, listings today also have much more diversification in<\/strong> terms of industries, sizes, and markets<\/strong>, as well as instruments such as ETFs, close-ended funds, and REITs, Al Rumaih noted. The growth in listing activity came on the back of the CMA-led Financial Sector Development Program, which focused on growing the number of listings in Saudi.<\/p>\n

\u201cIf you look back to 2017, we had around 100 listed companies. For an economy like <\/strong>Saudi Arabia, that\u2019s a very small figure,\u201d<\/strong> Al Rumaih said. <\/p>\n

The program focused first and foremost on addressing why companies were <\/strong>disinterested in going public<\/strong>, Al Rumaih said. \u201cThey had a valid reason \u2014 a lot of disclosure without a lot of benefits. Although the liquidity was always there, there were no tools for companies to get the liquidity they needed to grow their businesses.\u201d Back in 2017, Saudi capital markets lacked the diversified investor base it currently has. Fast forward to today, most companies that previously had zero foreign investors now have 5-10% of their shares in the market held by foreign investors.<\/p>\n

Then there was the creation of Nomu:<\/strong> Some companies did want to list, but wanted fewer requirements, which is why regulators set up Nomu and also looked at different ways to enter the market, such as introducing direct listings \u2014 which cut down on listing time and costs, Al Rumaih noted. <\/p>\n

It\u2019s been half a decade of substantial growth, but there\u2019s still more potential to tap into:<\/strong> So far this year, there are more than 50 listing applications under review, \u201cso this pipeline is very healthy and will continue to grow as we are opening up more ways for companies to become listed,\u201d Al Rumaih said. Moving forward, regulators \u201ccontinue to think about and work on how we can make it easier for investors,\u201d Bin Hassan said. \u201cWe\u2019re aiming to not just be one of the financial centers of the world, but also to be one of the most important ones.\u201d<\/p>\n

The CMA is set to announce today a fresh strategy for the next three years<\/strong> outlining plans to further develop the country\u2019s capital markets, Bin Hassan said. Among the priorities moving forward as regulators work on \u201ccontinuously improving and developing the market\u201d is increasing efficiency, adopting the best international practices, and improving infrastructure, Bin Hassan and Al Rumaih said. <\/p>\n

That potential also lies in debt capital markets, which remains underdeveloped:<\/strong> \u201cIf we talk about equity markets \u2014 ETFs, asset management, etc \u2014 we\u2019re relatively mature there, but the most important thing we\u2019re working on at the CMA with our partners in the financial sector is the debt capital market (DCM),\u201d Bin Hassan said. By developing the country\u2019s debt market, the value of becoming a listed company will also grow, Al Rumaih noted. \u201cSo by being a listed company, you would have more \u2014 or better \u2014 access to funding, which is essential to a company in a growth stage,\u201d Al Rumaih said. <\/p>\n

The Saudi debt market, valued at around SAR 700 bn, is very big<\/strong> \u2014 \u201cbut similar to the equity markets a few years ago, we are way below the benchmark when comparing the market to the size of the economy,\u201d Al Rumaih said. Whereas G20 countries see their debt markets representing 30-40% of GDP, Saudi\u2019s debt market represents 18% of the Kingdom\u2019s total GDP, leaving \u201croom to grow,\u201d he noted.<\/p>\n

What\u2019s holding companies back from tapping debt markets to finance growth plans? <\/strong>Regulations are a core factor<\/strong>, Al Rumaih said, noting that these regulations are being revamped \u201cto reduce the requirements and redundant information, especially if you are a listed company, which should provide the advantage of being known to the investors.\u201d Regulations should allow access to the debt market to be a short, easy, and cost-effective process, he said. \u201cThe debt market is very important to us because it is very important to the economy.\u201d <\/p>\n

In addition to regulatory changes, there are also new systems being introduced:<\/strong> \u201cCoupled with the revamp of the offering and listing rules, we are planning to introduce the capital management system, which we\u2019ve tested in the parallel market to great success. What we expect is that the companies using the CMS can access a good pool of liquidity in a very cost-efficient way,\u201d Al Rumaih said. Officials expect that these changes will help companies \u201clook at the debt market as the main source of funding and maybe replicate the success that we are having in the equity market\u201d within the next 2-3 years, he said.<\/p>\n

Meanwhile, regulators are also pushing forward with ESG performance standards:<\/strong> While the CMA has been supporting the implementation of ESG regulations, but \u201cit\u2019s still the beginning,\u201d Bin Hassan said. The CMA is working with the Supreme Committee for Investments on putting together standardized ESG regulations that would provide investors with greater clarity, he said. \u201cWe think in the next few years you\u2019re going to see a more developed ESG landscape in the Kingdom itself as part of its overall vision,\u201d Bin Hassan said. <\/p>\n

Vision 2030 \u2014 which encompasses sustainability as a key pillar \u2014 was an important <\/strong>driver for the Tadawul to also push for sustainability<\/strong> among companies, Al Rumaih said. \u201cWe found that the majority of companies are already sustainable \u2014 they are already following the corporate governance code, which is one of the best in the world, and they\u2019re working towards more environmentally-friendly ways of doing business.\u201d After publishing guidelines on ESG reporting two years ago, some 8% of listed companies disclosed their ESG practices, while that number has grown to 30% this year, Al Rumaih said. The surrounding ecosystem has also developed to encourage more ESG reporting, with more consultants now available to support in implementing ESG practices and reporting on them, Al Rumaih said. \u201cWe are very optimistic about the future of the economy being more sustainable and how our companies are reacting to it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi has seen 35 listings year-to-date<\/p>\n","protected":false},"author":1,"featured_media":643707,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7279],"tags":[102,84,72,2073,1134],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spotlight","tag-capital-markets","tag-efg-hermes","tag-enterpriseam","tag-spotlight","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"e293ba67-d856-40e2-ab4a-7874c47c44ad","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/945.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets","related_issue":[643694],"teaser":"Saudi has seen 35 listings year-to-date","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.a2359957-f351-4496-ac96-8ddbeb165d80.mp3"},"yoast_head":"\nTadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets\" \/>\n<meta property=\"og:description\" content=\"Saudi has seen 35 listings year-to-date\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-12T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets\",\"datePublished\":\"2024-09-12T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\"},\"wordCount\":1398,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"EFG Hermes\",\"EnterpriseAM\",\"SPOTLIGHT\",\"Tadawul\"],\"articleSection\":[\"Spotlight\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\",\"name\":\"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-09-12T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/","og_locale":"en_US","og_type":"article","og_title":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets","og_description":"Saudi has seen 35 listings year-to-date","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-09-12T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets","datePublished":"2024-09-12T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/"},"wordCount":1398,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1","keywords":["capital markets","EFG Hermes","EnterpriseAM","SPOTLIGHT","Tadawul"],"articleSection":["Spotlight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/","name":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1","datePublished":"2024-09-12T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/12\/tadawuls-al-rumaih-cmas-bin-hassan-on-the-growth-story-of-saudi-capital-markets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Tadawul\u2019s Al Rumaih + CMA\u2019s Bin Hassan on the growth story of Saudi capital markets"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/945.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":671670,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/11\/lessons-learned-from-saudis-capital-market-growth-at-efg-hermes-london-conferences\/","url_meta":{"origin":643706,"position":0},"title":"Lessons learned from Saudi\u2019s capital market growth at EFG Hermes\u2019 London conferences","author":"enterpriseam admin","date":"11 September 2025","format":false,"excerpt":"MENA capital market growth in focus at EFG Hermes London conference: Capital markets across the region \u2014 from Egypt to the UAE to Oman \u2014 are continuing to evolve, giving plenty of reason for optimism despite challenging regional dynamics, EFG Holding Group CEO Karim Awad said at the EFG Hermes\u2026","rel":"","context":"In "Spotlight"","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/630.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566056,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/efg-hermes-awad-on-forays-into-merchant-banking-foreign-expansion-of-nbfs-arm-and-whats-next-for-the-debt-market-part-2-of-2\/","url_meta":{"origin":643706,"position":1},"title":"EFG Hermes\u2019 Awad on forays into merchant banking, foreign expansion of NBFS arm, and what\u2019s next for the debt market. \u2014 part 2 of 2","author":"enterpriseam admin","date":"25 May 2021","format":false,"excerpt":"Part two of our exclusive with EFG Hermes Group CEO Karim Awad continues this afternoon with a look at what\u2019s next for EFG \u2014 and for the market in Egypt. If you missed Part 1 \u2014 where Awad dives deep into the Arab Investment Bank (AIB) acquisition and teaming up\u2026","rel":"","context":"In "Spotlight"","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/443.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573852,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/earnings-watch-efg-hermes-saw-8-y-o-y-net-profit-growth-in-2q2020\/","url_meta":{"origin":643706,"position":2},"title":"Earnings Watch- EFG Hermes saw 8% y-o-y net profit growth in 2Q2020","author":"enterpriseam admin","date":"19 August 2020","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes saw 8% y-o-y net profit growth in 2Q2020: EFG Hermes saw net profits grow to EGP 328 mn in 2Q2020, according to a company\u2019s earnings release (pdf) as revenues rose 26% y-o-y to EGP 1.3 bn in 2Q2020. \u201cTop line performance was primarily driven by revenue\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591515,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/egx-needs-larger-companies-to-attract-more-foreign-investment-efg-hermes-ceo\/","url_meta":{"origin":643706,"position":3},"title":"EGX needs larger companies to attract more foreign investment -EFG Hermes CEO","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"IPO WATCH- EGX needs larger companies to attract more foreign investment -EFG Hermes CEO: The Egyptian bourse needs to attract larger companies to list on the index if it is going to increase foreign inflows into Egyptian equities, EFG Hermes CEO Karim Awad said at a conference yesterday, Al Mal\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567291,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/19\/egypt-is-prime-mena-target-for-inbound-m-efg-hermes-tops-ecm-league-table-for-second-year-in-a-row\/","url_meta":{"origin":643706,"position":4},"title":"Egypt is prime MENA target for inbound M&A; EFG Hermes tops ECM league table for second year in a row","author":"enterpriseam admin","date":"19 January 2020","format":false,"excerpt":"Egypt is prime MENA target for inbound M&A; EFG Hermes tops ECM league table for second year in a row: Egypt was the second-highest target of inbound M&A in MENA last year in terms of value, but accounted for one of the lowest regional shares of the M&A market in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":667025,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/18\/efg-hermes-to-double-down-on-saudi-with-new-services\/","url_meta":{"origin":643706,"position":5},"title":"EFG Hermes to double down on Saudi with new services","author":"enterpriseam admin","date":"18 June 2025","format":false,"excerpt":"The firm will launch securities lending and borrowing services in 3Q 2025","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1736.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=643706"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643706\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/643694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/643707"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=643706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=643706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=643706"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=643706"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=643706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}