The Capital Market Authority (CMA) in Saudi Arabia unofficially started in the early fifties, and
continued to operate successfully, until the government set its basic regulations in the eighties.
The current Capital Market Law is promulgated and pursuant to Royal Decree No. (M/30) dated
2/6/1424H, which formally brought it into existence. The CMA is a government organization applying
full financial, legal, and administrative independence, and has direct links with the Prime Minister.
The CMA’s functions are to regulate and develop the Saudi Arabian Capital Market by issuing
required rules and regulations for implementing the provisions of Capital Market Law. The
basic objectives are to create an appropriate investment environment, boost confidence, and
reinforce transparency and disclosure standards in all listed companies, and moreover to protect
the investors and dealers from illegal acts in the market.
- Strategic Supporter