Saudi Arabia’s Capital Market Forum is set to enhance ties with China’s capital markets by venturing beyond borders to host the next edition in Hong Kong.
The Capital Market Forum — CONNECT Hong Kong, set for May 9 in the port city, was announced by Khalid Al-Hussan, CEO of Saudi Tadawul Group, during a fireside chat at the Riyadh forum.
The forum, designed to facilitate cross-border investments and foster collaboration, will feature a series of strategic discussions and networking platforms, inviting key financial minds and decision-makers.
Deputy of Financing and Investment Abdullah Binghannam revealed that the Kingdom has commenced its public consultation for the so-called “FMO” framework, aiming to enhance the market’s liquidity and accessibility.
During his participation in a dialogue session within the activities of the Forum, Professor Richard Cormack, Co-Head of Capital Markets in Europe, the Middle East, and Africa and Co-Head of Investment Banking in the United Kingdom at Goldman Sachs, revealed the bank’s expectations that the weight of the Middle East and North Africa markets will reach to 10% on the MSCI Emerging Markets Index, with Saudi Arabia representing 70% of this percentage, according to a research study published by Goldman Sachs.
Cormack stressed that these expectations mean the influx of active and passive investments worth approximately $50 billion into the Kingdom, which contributes to strengthening its position as a leading financial power equivalent to the economic bloc in Latin America, which is considered the largest bloc outside Asia.
Cormack also stressed that the Kingdom continues to record strong performance in line with the performance of advanced financial markets, noting that the profitability factor for stocks traded in the Saudi financial market has reached approximately 21 times, which is the same ratio recorded for stocks traded in the American market.
The Ministry of Human Resources and Social Development and Saudi Exchange signed a new cooperation agreement on the sidelines of the third Saudi Capital Market Forum to launch a Social Responsibility Index.
Furthermore, a memorandum of understanding was signed between the Saudi Tadawul Group and Atrum, supporting artistic initiatives, educational programs, and cultural exchanges within the Kingdom.
SALIC signed an MoU with Tadawul with the aim of establishing the foundations for effective cooperation and integrated coordination between the two parties towards aligning and sharing strategic initiatives in the field of sustainability.
An MoU was signed between Riyad Capital and E Fund to foster knowledge sharing on local investment expertise and stimulate collaboration on developing future investment products.
Meanwhile, the Saudi Capital Market, Muqassa and Swiss cash management company Instimatch Global signed an agreement to launch a Repo Trading Platform for the Kingdom’s market.
