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Leaders
12-05-2025
- Business
- Leaders
CMA Chairman: SMEs Make Up 30% of Listed Companies in Saudi Market
Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), highlighted significant progress in supporting small and medium enterprises (SMEs) in Saudi Arabia's capital market. Speaking at the SME Support Council during 'Finance Week,' hosted by Monsha'at (the Small and Medium Enterprises General Authority), ElKuwaiz noted that the Kingdom has made considerable efforts in recent years to encourage public listings and diversify financing options for SMEs. He pointed out that companies in the Saudi market now have access to nine different financing options, most of which were introduced recently. Among the key initiatives, the launch of the Nomu Parallel Market stands out as a major enabler, easing the path for SMEs to enter the capital market. CMA According to a CMA press release, SMEs now represent 30% of listed companies in the Saudi capital market. Fourteen companies have successfully transitioned from Nomu to the main market, demonstrating the effectiveness of the CMA's supportive investment environment. ElKuwaiz reported that the Nomu Index has grown tenfold since its inception, with market capitalization soaring 26 times to nearly SAR 60 billion. Trading volumes also saw a significant boost, with liquidity increasing eightfold and total trades reaching SAR 14 billion in 2024. The CMA has overhauled listing requirements to align with global best practices, introducing direct listings and lowering regulatory hurdles through partnerships with strategic stakeholders. To further encourage listings, over 14 incentives have been launched in collaboration with various entities, targeting areas such as government procurement, credit ratings, and evaluation standards for listed firms. Fintech ElKuwaiz also underscored the growing influence of financial technology (fintech) in the capital market, noting that the sector's revenue surged by 105% compared to 2023. He emphasized the importance of credit ratings and company evaluations in improving access to financing, particularly through debt instruments, which are vital for sustainable market growth. Related Topics : Kafalah Program Boosts Saudi SMEs with 17% Growth in Q1 2025 Saudi Arabia's SMEs Record Highest Employment Growth in 10 Months Saudi Post SPL Wins 2024 TradePost Global Award for its SMEs Platform CMA Launches Public Consultation on New Investment Product for Parallel Market Short link : Post Views: 13
Saudi Gazette
12-05-2025
- Business
- Saudi Gazette
30% of listed firms on Saudi market are SMEs, says CMA chief
Saudi Gazette report RIYADH — The chairman of the Capital Market Authority (CMA) Mohammed Al-Quwaiz highlighted the growing role of Saudi Arabia's financial market in supporting small and medium-sized enterprises (SMEs), citing significant efforts in recent years to expand listing opportunities and diversify financing tools. Speaking during the Enterprise Support Council held as part of the 'Finance Week' organized by the General Authority for Small and Medium Enterprises (Monsha'at), Al-Quwaiz emphasized the impact of recent initiatives to empower entrepreneurs and business owners. Al-Quwaiz stated that the Saudi market now provides nine financing channels for companies, most of which were developed in recent years. Among the most notable developments, he said, was the launch of the parallel market 'Nomu,' which has facilitated wider market access for SMEs. Currently, 30 of the companies listed in the Saudi financial market are SMEs, 14 of which have graduated from the parallel market to the main market after achieving business growth. This, he noted, reflects the success of the investment climate cultivated by the CMA. 'The general market index for growth has increased tenfold since launch, and the market value has surged to approximately SR60 billion — a 26-fold increase. Liquidity in the parallel market has grown eightfold, with trading values in 2024 reaching SR14 billion,' said Al-Quwaiz. He added that the CMA has updated listing and offering requirements to align with international best practices. New tools, such as direct listings, have been introduced, while regulatory barriers have been reduced in collaboration with other government entities to ease the listing process for SMEs. The CMA has also worked with partner institutions to implement over 14 incentives supporting listing and offering, including advantages related to government procurement, credit rating, and company evaluation. Al-Quwaiz also noted the growing role of financial technology in the market, with sector revenues rising by 105% year-on-year in 2024. He underscored the importance of credit rating and evaluation in enabling companies to secure financing, particularly through debt instruments, calling them vital components for long-term growth and market sustainability.
Argaam
12-05-2025
- Business
- Argaam
Past years witness strong efforts to boost new listings: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said past years have seen major efforts to promote listings on the Saudi financial market and expand funding options for small and medium enterprises (SMEs). Speaking at the 'Enterprise Support Council' during 'Finance Week' hosted by Monshaat, he said SMEs now make up 30% of listed companies. After expanding their businesses, 14 of these moved from Nomu to the main market, demonstrating the CMA's ability to create an atmosphere that is conducive to investment. Elkuwaiz noted that Saudi companies now have access to nine financing channels, most of which were developed in recent years, describing Nomu's launch as a key reform to attract more companies to the market, the Saudi Press Agency (SPA) reported. Since its launch, Nomu's main index has grown tenfold. Market capitalization jumped 26x to nearly SAR 60 billion by the end of last year. Liquidity also rose significantly, with 2024 trading value reaching SAR 14 billion, eight times higher than earlier levels. The CMA reviewed all listing and offering requirements to align with global standards. It introduced direct listings and worked with regulators to ease rules, helping SMEs access the market more efficiently. He said the CMA, alongside other agencies, launched over 14 incentives to support listings and new IPOs, including changes to government procurement laws, credit rating frameworks, and evaluation processes for listed firms. Fintech has become a key player in the capital market. Sector revenues surged 105% in 2024 versus 2023, he added. Elkuwaiz stressed the importance of credit ratings, especially for debt-based financing, as vital tools to support market growth and sustainability.
