Capital Market Authority (CMA), Saudi Arabia

The CMA was formally established in July 2003 and is headquartered in Riyadh, Saudi Arabia. The CMA is a governmental authority tasked with overseeing and supervising the development and regulation of the capital market in the Kingdom of Saudi Arabia. Its responsibilities include setting and policing financial rules and regulations and developing the capital markets, this includes regulating the Tadawul, Saudi Arabia's stock exchange.

The CMA holds several powers, including regulating and developing the capital market, enhancing and developing the methods of institutions and entities involved in securities trading, protecting investors from unfair and improper practices such as fraud, deception, manipulation, or insider trading, ensuring fairness, efficiency, and transparency in securities transactions, developing controls to mitigate risks associated with securities transactions, regulating, organizing, and monitoring the issuance and trading of securities, overseeing the activities of entities under its supervision, and regulating and monitoring the disclosure of information related to securities and their issuers.

As of end of 2024, assets under management in the Saudi capital market exceeded SAR1 trillion, recording a growth rate of 20.9% compared to the previous year, with 1,549 investment funds and 1.72 million subscribers in public and private funds. The number of licensed institutions reached 186 at the end of 2024, with capital market institutions revenues increasing by 29.6% to SAR17 billion and profits growing by 39.3% to SAR8.8 billion. The CMA is a government organization applying full financial, legal, and administrative independence, and has direct links with the Prime Minister.

Recent Leadership

Mohammed A. El-Kuwaiz serves as Chairman of the CMA. In 2024, CMA Chairman Mohammed bin Abdullah Elkuwaiz stated that the CMA approved its strategic plan for the years 2024–2026, in line with emerging economic developments.