Aljadaan presents annual report to CEDA

Aljadaan has presented the 2015 annual report to the Council of Economic and Development Affairs (CEDA).
The council communicated its remarks and recommendations on the Capital Market Authority’s (CMA) strategic plan and endorsed approval of the plan; CMA sets a strategic objective to raise governance and transparency standards as well as to increase level of communication with capital market investors.
Mohammed Aljadaan, board chairman of the CMA, stated: “The authority is working tirelessly toward implementing the CMA's strategic plan, which was adopted last year. The plan was presented to the CEDA for its remarks and recommendations. The council has graciously recommended approval of the plan and expressed a number of observations and notes on the plan. Thereafter, a royal approval was issued approving the plan.”
In 2015, a new strategic objective related to deepening the capital market was added to the strategic plan. In addition, other strategic objectives were included like raising governance and transparency standards and increasing the level of communication with capital market investors.
The CMA chairman stated in the introduction of the 2015 annual report that the CMA is on track implementing 54 initiatives of the approved strategic plan. Those initiatives include 342 activities with the CMA achieving 91 percent completion rate of these activities during the year. In 2016, the CMA will work to implement other elements of its strategic plan, including initiatives to deepen the capital market by expanding the investor base, promote investment literacy and higher level of investor communication.
The 2015 annual report data include the public offering of four companies with a total of SR4.2 billion worth of shares while the offering of all securities reached SR34.2 billion.
The investment funds sector grew by 11.2 percent over the preceding year, reaching SR180.3 billion in total investment funds assets.