Riyadh - Mubasher: Chairman of the Capital Market Authority (CMA), Mohammed Al-Quwaiz, confirmed that the past few years have witnessed significant efforts to encourage companies to list on the financial market and provide diverse financing options for small and medium-sized enterprises (SMEs ).

Al-Qwaiz explained that 30% of the companies listed on the Saudi market are small and medium-sized enterprises, and that 14 such companies have moved from the parallel market to the main market after expanding their businesses, reflecting the effectiveness of the stimulating investment environment that the Authority has worked to develop .

He stated that the Saudi market currently has nine funding sources available to companies, most of which have been developed in recent years. He noted that the launch of the parallel market "Nomu" was one of the most prominent of these facilities, contributing to the entry of an increasing number of companies into the market, according to the Saudi Press Agency .

This came during his participation in the Enterprise Support Council as part of the "Finance Week" activities, organized by the General Authority for Small and Medium Enterprises (Monsha'at), with the aim of highlighting available financing tools and their role in empowering entrepreneurs and owners of small and medium enterprises.

It was reported that the general market index for growth has multiplied by several times since its launch until the end of last year, while market capitalization has risen to approximately SAR 60 billion, a 26-fold increase. The parallel market has also witnessed an eight-fold increase in liquidity, with trading values in growth during the past year reaching approximately SAR 14 billion.

He stated that the Authority reviewed all offering and listing requirements and worked to align them with global best practices, while developing new tools such as direct listing and reducing regulatory hurdles in cooperation with partner entities, which contributed to facilitating the entry of small and medium-sized enterprises into the financial market .

He pointed out that the Authority worked with several entities to provide more than 14 incentives to support the offering and listing, including government procurement systems, credit ratings, and the evaluation of listed companies .

He emphasized that financial technology has become a major player in the market, with the sector's revenues increasing by 105% in one year compared to 2023. He noted the importance of credit ratings and assessments in supporting companies' ability to obtain financing, particularly through debt instruments, as they are key to enhancing growth and sustainability in the financial market.