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Saudi Shura Council Asks Capital Market Authority to Stimulate Listings for Small Enterprises

An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016. (Reuters)
An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016. (Reuters)
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Saudi Shura Council Asks Capital Market Authority to Stimulate Listings for Small Enterprises

An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016. (Reuters)
An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016. (Reuters)

The Saudi Shura Council called on the Capital Market Authority to promote local and international institutional investment, in addition to working on activating the rules, regulations and procedures and strengthening oversight over trading, corporate performance and listings for new and small enterprises to protect investors and the Saudi market.

During its 42nd regular session for the first year of the eighth session, which was held on Tuesday via video conference, the Council also issued a decision regarding the latest annual report of King Abdulaziz City for Science and Technology, calling for speeding up the completion of its new system and finalizing its updated strategic plan for the year 2025. It also stressed the need to develop and diversify the city’s financial resources through the establishment of endowments and national funds.

The council asked the city to strengthen its efforts to expand research, development and innovative programs and projects pertaining to national security and defense, in coordination with the competent authorities. It also pointed to a strategic project launched by the city under the name of, “the Kingdom’s National Laboratory”, asking the relevant authorities to equip it with the latest technologies in order to enable it to contribute to the transfer and localization of technology, and upgrade the system of research, development and innovation.

Meanwhile, the Governor of the Saudi Central Bank, Dr. Fahad Al-Mubarak, emphasized the efforts made by the Banking Information and Awareness Committee for Saudi banks, in order to spread and strengthen the financial culture within the Saudi society and raise the level of financial awareness.

Al-Mubarak stressed the keenness of the Saudi Central Bank, in cooperation with the financial sectors, to raise the level of financial guidance and awareness among clients of the banking and financial sector, using the various available communication channels, in the context of serving and protecting the interests of the customers.

The governor urged all financial institutions to deploy more efforts to develop education programs for clients on financial fraud methods, and to continuously measure the effectiveness and efficiency of awareness tools.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.