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14/05/2025 05:24 AST
Small and medium enterprises now constitute 30 percent of listed companies in Saudi Arabia, following significant efforts by the Capital Market Authority to streamline the listing process and enhance the parallel market, according to CMA Chairman Mohammed El-Kuwaiz.
Speaking during "Finance Week" at the SME Support Council - an event organized by the Small and Medium Enterprises General Authority, also known as Monsha'at - El-Kuwaiz underscored the regulator's commitment to broadening financing options and encouraging more SMEs to enter the capital market.
According to the Saudi Press Agency, El-Kuwaiz highlighted the 2017 launch of the parallel market, Nomu, as a major milestone in expanding access for smaller firms. Since then, 14 companies have successfully moved from Nomu to the main market, underscoring the strength of the investment ecosystem.
The Kingdom is targeting a 35 percent contribution from the SME sector to its gross domestic product by 2030, in line with the Vision 2030 economic diversification plan.
El-Kuwaiz noted that the Nomu index has grown tenfold since its inception, with market capitalization soaring 26 times to nearly SR60 billion ($16 billion) by the end of 2024. Liquidity has also surged, with trading values reaching approximately SR14 billion this year - an eightfold increase.
To further ease capital market access, the CMA has introduced a suite of new tools, including direct listings and regulatory simplifications, in collaboration with strategic partners. As a result, companies now have access to nine distinct financing options, most of which were developed in recent years.
The CMA chief also pointed to the rapid growth of the fintech sector within capital markets, with revenues more than doubling - up 105 percent compared to 2023.
He emphasized the growing importance of credit ratings and evaluations in securing financing, particularly through debt instruments, which are increasingly vital for fostering sustainable growth in the financial sector.
Arab News
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14/05/2025
As part of their ongoing efforts to support the development of the Kuwaiti capital market and elevate its position within the international investment community, Boursa Kuwait and Kuwait Clearing Com
Kuwait Times
14/05/2025
The Qatar Stock Exchange (QSE) general index closed Tuesday's trading lower by 23.67 points, or 0.22 percent, to close at 10,585.58 points.
During the session, 267,809,871 shares, valued at
The Peninsula
14/05/2025
Saudi Arabia's Tadawul All Share Index extended its upward momentum for the second consecutive day, gaining 43.62 points, or 0.38 percent, to close at 11,532.27.
The total trading turnover o
Arab News
13/05/2025
Bahrain All Share Index has closed at 1,916.39 points, marking a decrease of 3.53 points below the previous closing.
This decrease was due to the drop in the material sector, real estate s
BNA
12/05/2025
Bahrain All Share Index has closed at 1,919.91 points, marking an increase of 2.78 points above the previous closing.
This increase was due to a rise in the communication service sector, the
BNA
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