Saudi Stock Exchange fetes EFG-Hermes

Inayat-ur-Rahman, Business Editor

EFG-Hermes Holding has announced that the Saudi Stock Exchange “Tadawul” has presented it with an award at the Saudi Capital Market Awards 2022 titled ‘ Best sell-side Research House ‘ which was graded based on research, corporate access meetings, conferences and results calls.

This comes on the sidelines of the Saudi Capital Market Summit, which is being held in Riyadh, and which witnessed the signing of the Egyptian Stock Exchange and the Saudi Tadawul Group, a memorandum of understanding in order to enhance joint cooperation efforts, in the presence of Dr Mohamed Farid, Chairman of the General Authority for Supervision.

The Saudi Capital Market Forum 2023, held under the patronage of Mohammed El-Kuwaiz, the Chairman of the Capital Market Authority concluded on a strong note. Building on the success of last year’s inaugural event, and significant traction in the sector over the last 12 months, the event saw over 2600 attendees participate in more than 2400 meetings, as well as the signing of 12 key agreements. Over 330 investors represented more than 130 international investment firms, joined by more than 100 corporate organizations from the region and beyond.

Held over two days, the Saudi Capital Market Forum 2023 brought together opinion leaders, issuers, investors, and governmental entities to explore key issues facing the industry and the evolution of global capital markets, as well as showcase the efforts of Saudi companies in meeting global ESG standards. It also fostered discussion around digital innovations driving the industry forward, such as open banking, and highlighted the role of fintech in supporting SME growth in the Kingdom.

Eng. Khalid Al-Hussan, Saudi Tadawul Group CEO, commented: “As we close the second annual Saudi Capital Market Forum, it is clear that Saudi Arabia has made significant progress in establishing an advanced capital market.”