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DMDF 2024 Explores Dynamics of Saudi Financial Market

A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
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DMDF 2024 Explores Dynamics of Saudi Financial Market

A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)
A previous conference organized by the Saudi Financial Academy (Asharq Al-Awsat)

The Debt Markets and Financial Derivatives Forum (DMDF 2024), set to launch on Sunday in Riyadh, will focus on key principles aimed at exploring the dynamics of the Saudi financial market.
Organized by the Financial Academy, the forum will be held under the patronage of Mohammed El-Kuwaiz, Chairman of the Capital Market Authority and the Board of Trustees of the Financial Academy, with the participation of industry leaders, experts, and specialists from the financial securities sector.
The forum will examine emerging trends and insights from experts and CEOs in the financial sector, contributing to the mission of the Financial Academy, which aims to leverage its resources to provide high-level specialized services that align with Saudi Arabia’s Vision 2030.
Mana bin Mohammed Al-Khamsan, CEO of the Financial Academy, told Asharq Al-Awsat that the forum comes in parallel with the Kingdom’s ongoing advancements, driven by Vision 2030, which seeks to achieve exceptional results across all areas, particularly the economic sector, a cornerstone of the country’s development.
Key Focus Areas
According to Al-Khamsan, the forum will address several major topics in the financial sector, including strategic partnerships with local and international exchanges, such as collaborations with the Saudi Tadawul Group and the Chicago Mercantile Exchange. It will also include partnerships with renowned international organizations like the CFA Institute and the International Capital Market Association (ICMA).
He added that a central focus will be on the debt and derivatives markets, which are expected to experience significant growth in the near future due to recent legal and regulatory reforms. These markets will play a crucial role in diversifying financing sources and improving liquidity.
The CEO of the Financial Academy also noted that the debt and derivatives markets in Saudi Arabia are experiencing rapid growth, and are expected to play a vital role in expanding funding sources and enhancing liquidity over the next few years.
Additionally, the official anticipated a rise in foreign investments in the Saudi financial market due to an improved regulatory environment and increased confidence among international investors.
Future Outlook
According to Al-Khamsan, the forum will shed light on these transformations through panel discussions and dialogues centered on future trends and challenges facing these markets. It will also present innovative solutions to keep pace with global financial market developments.
The forum aims to deliver measurable outcomes by tracking the impact of the Financial Academy’s initiatives on career development within the sector and fostering the principles of continuous professional training across the Kingdom’s financial industry, he underlined.
Al-Khamsan continued that the forum seeks to raise awareness and facilitate the exchange of expertise on modern financial instruments and risk management, while solidifying Saudi Arabia’s position as a leading investment destination regionally and globally. This will be achieved through collaboration with prestigious local and international entities such as the Saudi Tadawul Group, the Chicago Mercantile Exchange, and the CFA Institute.

 

 

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Iran’s Energy Sector: A Long History of Sanctions and Instability

Abadan oil refinery facility in southwestern Iran (Reuters)
Abadan oil refinery facility in southwestern Iran (Reuters)
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Iran’s Energy Sector: A Long History of Sanctions and Instability

Abadan oil refinery facility in southwestern Iran (Reuters)
Abadan oil refinery facility in southwestern Iran (Reuters)

Israel launched airstrikes on Iran Friday, targeting nuclear facilities, ballistic missile factories, and senior military commanders. The operation, which Israeli officials warned could be “prolonged,” is intended to prevent Tehran from developing nuclear weapons.

Iran’s National Oil Refining and Distribution Company confirmed that its oil refining and storage facilities were not damaged in the attacks. Similarly, the Abadan Oil Refining Company announced it was operating at full capacity with no service disruptions.

Iran is the third-largest oil producer in OPEC, pumping approximately 3.3 million barrels per day, about 3% of global output.

Sanctions and OPEC Role

Iran’s oil production peaked in the 1970s, reaching a record 6 million barrels per day in 1974, more than 10% of global supply at the time, according to OPEC data.

The first US sanctions were imposed on Tehran in 1979, and Iran has since remained under recurring waves of American and European restrictions. In 2018, President Donald Trump withdrew from the nuclear deal and reimposed strict sanctions, sending Iran’s oil exports plummeting—sometimes to near zero.

Under President Joe Biden, however, exports began to climb again. Analysts say enforcement has been less aggressive, and Iran has increasingly succeeded in evading restrictions. It’s also important to note that Iran is exempt from OPEC’s production quotas.

In recent months, Iranian oil exports have surged to around 1.8 million barrels per day—the highest since 2018, fueled by strong demand from China. Beijing does not recognize unilateral sanctions against its trade partners. Private Chinese refineries remain the main buyers of Iranian crude, despite some being targeted by recent US Treasury sanctions. So far, these measures have had limited impact on the flow of Iranian oil to China.

Iran continues to skirt sanctions using tactics like ship-to-ship transfers and by concealing tanker locations.

Production and Infrastructure

Energy consultancy FGE reports that Iran refines around 2.6 million barrels per day of crude and condensates, while exporting an equivalent amount that includes crude, condensates, and refined products. Iran also produces 34 billion cubic feet of natural gas daily - about 7% of global production - all of which is consumed domestically.

Most of Iran’s oil and gas infrastructure is concentrated in the southwest: oil fields in Khuzestan, gas in Bushehr, and condensates from the massive South Pars field. About 90% of crude exports pass through Kharg Island.

While OPEC members theoretically have the capacity to offset a drop in Iranian supply, many are already operating near their limits, placing pressure on the group’s spare production capacity.