Riyadh, November 05, 2023, In a recent development, the Board of the Capital Market Authority (CMA) has announced the reconstitution of its Advisory Committee for its tenth term, with a roster of eleven part-time members. These individuals represent a diverse cross-section of market participants, experts, specialists, and seasoned academics.
The newly formed committee, in its tenth term, is poised to play a crucial role in shaping the future of the capital market landscape. Its primary mission is to provide recommendations and insights on topics presented by the CMA Board. Furthermore, the committee will engage in in-depth discussions regarding various subjects and suggestions put forth by market participants. It will also closely monitor their reactions to any forthcoming changes or policies proposed by the CMA. This multifaceted role extends to expressing opinions and making recommendations on matters that can foster market development and safeguard the interests of securities investors.
This committee, as an advisory body to the CMA Board, consists of several distinguished part-time members. Among them are notable figures such as Dr. Nabeel Koshak, CEO of the Saudi Venture Capital Company (SVC); Dr. Waleed Abdullah Al-Mogbel, Managing Director and CEO of Al-Rajhi Bank; Dr. Abdulwahab AlGahtani, an Associate Professor at the King Fahd University of Petroleum and Minerals and a respected economic writer; and Dr. Sultan Almasoud, Partner at The Law Firm of Dr. Sultan Almasoud in association with Shearman & Sterling LLP.
The committee's composition also includes Eng. Omer Abdullah Alnomany, CEO of Arabian Internet and Communications Services Co.; Adel Al-Ateeq, CEO of Awaed Financial Assets Company; Khlood Abdulaziz Aldukheil, CEO of Erteqa Financial Company; Rashed Ibrahim Sharif, CEO of SNB Capital; Abdulaziz Alomran, CEO of Impact; Basem Alsallom, Managing Director of Sure Global Technology; and Saleh Abdullah Alyahya, a Partner at Alluhaid & Alyahya Chartered Accountants (LYCA).
The CMA's Board has expressed its deep appreciation for the outgoing members of the Advisory Committee in its ninth term. Their unwavering dedication, substantial contributions, and the impartiality of their opinions and recommendations have been pivotal in shaping the capital market landscape.
Notably, the CMA's Board had previously issued a resolution back in 2013 to approve the CMA's Advisory Committee Regulations pursuant to the Capital Market Law (CML). This initiative underscores the CMA's commitment to fostering effective communication between the regulatory body and a wide array of market participants. It seeks to establish a structured mechanism for such interactions to bolster the CMA's ability to fulfill its functions and achieve its overarching objectives.
