Capital Market In FY 1435/1436 (2014(, Capital Market Authority (CMA) has taken a number of initiatives to regulate the issuance of securities and develop their markets as well as enhancing fairness and transparency to protect investors and to enhance confidence in the market. The Council of Ministers issued a Resolution No. (388) dated 24/9/1435H (corresponding to 21/7/2014G) to allow qualified foreign financial institutions to trade listed shares, according to CMA's regulations. 6 - Economic, financial and organizational developments In FY 1435/1436 (2014(, a number of developments, initiatives and actions taken by the government have enhanced private sector confidence and helped to achieve robust growth performance including: -The continued implementation for the second phase of the National e-Government Project to support the initiatives and projects for the second operational plan for the e-Government (2012-2016). Currently, around (2000) online services are available through the National e-Government Portal (SAUDI). Moreover, the number of government entities connected to the secure electronic network have reached (111), and the number of government entities that exchange data electronically through the government integration channel have reached (100). Furthermore, a government electronic mail system was launched, which operates on a secure electronic platform to facilitate the exchange of transactions electronically between different government agencies. -SADAD Payment System (SADAD) witnessed the joining of (4) new government entities in FY 1435/1436 (2014(, which increased the total number of entities (government and private) connected to the system to (139) entities. Total payments made through SADAD since its inception up to (8/2/1436H) have reached SR 313 (US $83.5) billion, increasing by (12) percent compared to 2013. -International Monetary Fund (IMF) Report in 2014 acknowledged that Saudi Arabia has been one of the best performing G-20 economies in recent years, and has supported the global economy through its stabilizing role in the global oil market. --More 15:18 LOCAL TIME 12:18 GMT تغريد
