imported 2024-03-17 17:43:07
“Standard Chartered is very keen to assist in developing the secondary trading market in bonds and sukuks in the Kingdom,” argues Dr. Boutros Klink, CEO of Standard Chartered.
Al Saedan Real Estate – Opening of the Saudi Capital Markets
The Capital Market Authority’s report disclosed the total market capitalization of the Saudi bourse at 1,945.15 Billion Riyals for the first half of 2014, up 29.93% from last year’s second half.
With the market regulator taking steps to give foreign institutions access to the Tadawul market in Riyadh, banks, fund managers and brokers in the region expect a boon and a boom for Saudi shares and new listings to come.
Saudi banks are not only earning money on oil trading. While one might suggest that Saudi lenders became big due to a windfall of the country’s revenues from energy exports, little is known about the Saudi role as the biggest capital market in the Arab world.
“The capital markets started very early in Saudi, maybe in the 60’s or even earlier than that. It was very simple, very preliminary, there were no complications at all, and there were no rules or regulations,” explains Abdullah Saud Al-Rashoud, CEO of Blominvest Saudi Arabia.
Abdullah Saud Al-Rashoud, CEO of Blominvest
I think the capital markets started very early in Saudi, maybe in the 60’s or even earlier than that. It was very simple, very preliminary, there were no complications at all, and there were no rules or regulations.
Dr. Boutros Klink, CEO of Standard Chartered
Saudi Arabia, compared to the other nations in the GCC, has the largest population. It also has the largest local population. So the demographics mix is different. In the credit card industry, the way we deal with the customer base is very different because we are able to build long term relationships with the customers and service their needs as their requirements grow throughout their life cycle.
“The asset management business in Egypt is not very familiar. It has a lot of potential to expand over the coming years, because it is very small, but it is growing rapidly, but it is still in its early stages. The growth in assets in the company has a very high percentage. Since the last 3 to 4 years, some companies have grown by 50 % to 70% percent annually.”
“EFSA is the result of unifying all the financial regulators. Our Constitution mentions EFSA, or the non-banking finance regulator as an independent body. We regulate 6 activities, capital markets, insurance, private pensions, mortgage, leasing and factoring. And as a recent development, for the first time in Egypt, microfinance. It is challenging.”
Edoh Kossi Amenounve, CEO of BRVM (Bourse Régionale des Valeurs Mobilières), gives an overview of the latest results. After 2011, the BRVM has made very strong progress in respect of the majority of its indicators, its capitalisation, the indices and the volume of transactions.
