CMA Recomposes its Advisory Committee

2021-04-07 15:54:41

The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its eighth term to comprise of 12 part-time members from market participants, experts, specialists and experienced college professors. The Committee's composition took into consideration a wider representation of market participants. The members are as follows: 1. Mr. Amin bin Fahad Al Shady - Senior Vice President, Finance Sector, STC 2. Mr. Rayyan bin Mohammed Nagadi - CEO of the National Center for Privatization 3. Dr. Saleh Bin Hamad Al Shinifi - Consultant of Internal Auditing, Saudi Telecommunications Co. (STC) 4. Mr. Abdulrahman A. Alnafea - Founder of Abdulrahman bin Abdulmohsen AlNafea office 5. Mr. Abdulaziz Mohammed Alajaji- CEO of Morgan Stanley Saudi Arabia 6. Mr. Abdulatif A. Alseif - CEO of Ra'idah Investment Company (RIC) 7. Dr. Abdullah H. Alfozan - Chairman of the Board of Directors of KPMG Al-Fawzan & Partners 8. Mr. Abdullah Bin Nasser Al Dawood - CEO of Serra Holding Group 9. Mr. Mohammed S. Alrumaih - Chief of Markets at Tadawul 10. Dr. Fahad I. Alshathri - Deputy Governor for Supervision at the Saudi Central Bank 11. Mr. Fahad K. Alsaud - Managing Director and CEO of Alpha Capital Company 12. Dr. Fahad A. Alhoymany - Founder and CEO of EPAP Marketing Platform Company - Saudi writer The CMA’s Board had previously issued a resolution on 2/11/1434H (corresponding to 8/9/2013G) to approve the CMA’s Advisory Committee Regulations pursuant to the Capital Market Law (CML). The main purpose of this resolution is to enable effective communication between the CMA and all different market participants, and creating a regulated mechanism for such interaction in order to support the CMA in fulfilling its functions and achieving its goals. On this occasion, the CMA’s Board would like to express its appreciation to the previous Advisory Committee for their great efforts and contributions, as well as their transparent and unbiased views and recommendations on all aspects which have develop the capital market and ensuring investors’ protection. The Board has also appreciated the role played by the Committee as an advisory body by making recommendations and suggestions on any issues that might need to be explored at the request of the CMA’s Board, deliberating topics and suggestions highlighted by market participants and seeking their feedback on any proposed new or amendments to policies which the CMA wishes to adopt, as well as any issues raised by the Committee which are essential to the capital market industry. During the previous term, the Advisory Committee had scrutinized on several important issues and had provided with their valuable views and recommendations, amongst others:  CMA’s strategic plan and the most important achievements  Convertible Debt  A special strategy to make the Kingdom among the largest financial centers in the world by 2030  The potential effects of the global pandemic of the Coronavirus outbreak on the local economy and the Saudi financial market  The proposed regulatory framework for graduating collective ownership financing platforms from the FinTech Lab  Announcements issued by the Commission’s Board decisions imposing administrative sanctions by the Commission’s Board or relating to the referral of criminal cases to the Public Prosecution  Derivatives market  Endowment funds  Dual listing of Exchange Traded Funds (ETFs) Brief information of the Advisory Committee's members for the eighth term can be viewed on the CMA’s website via the following link: Advisory committee