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.


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