Capital Market Authority (Saudi Arabia)

The Capital Market Authority (CMA) is the Saudi government's financial regulatory authority responsible for capital markets in Saudi Arabia. Formally established in July 2003 under Royal Decree No. (M/30), the CMA is headquartered in Riyadh and operates with full financial, legal, and administrative independence with direct links to the Prime Minister.

The CMA's functions include regulating and developing the Saudi Arabian Capital Market by issuing required rules and regulations, with responsibilities including setting and policing financial rules and regulations and developing the capital markets, including regulating the Tadawul, Saudi Arabia's stock exchange. The CMA's mandate encompasses the regulation of securities issuance, trading, and settlement; licensing and supervision of market intermediaries; enforcement of disclosure and corporate governance standards; and investor protection from fraud and market manipulation.

As of end-2024, assets under management in the Saudi capital market exceeded SAR 1 trillion for the first time, with 1,549 investment funds and 1.72 million fund subscribers. Since its establishment, the CMA has overseen the transformation of the Saudi capital market from a relatively closed domestic exchange into one of the most significant emerging markets globally.

Recent Leadership News

In August 2026, King Salman issued a royal decree appointing Mazen bin Turki Al-Sudairi as Chairman of the CMA, replacing Mohammed bin Abdullah ElKuwaiz. ElKuwaiz had led the CMA since July 2017, with Saudi Arabia's capital market surpassing SAR 1.2 trillion in assets under his tenure.