The Saudi Capital Market Authority (CMA) in collaboration with the World Bank, launched here today the Sukuk Conference, titled (Sukuk Market - challenges and opportunities). Vice Chairman of the CMA Mohammed Al-Quwaiz said in his opening remarks that Sukuk and debt markets represent important options to provide funding for facilities and projects, noting the importance of Sukuk and debt instruments for investors as these options enable investors to diversify their investments at different levels of risks and turnover. He pointed out that the Kingdom Saudi Arabia has launched debt capital market since 2009, still the size of this market is relatively small, particularly when compared with those in emerging markets, banks funding or the size of the stock market, noting that the CMA has attached great importance to the development of the Sukuk market through a number of initiatives that contribute to the support and development of this market in CMA strategic plan for the period 2015-2019. Sukuk and debt capital markets activation depends on a number of elements, success components involving CMA and others, demanding cooperation and understanding among concern parties. According to a statement published in CMA website, the conference is discussing the role of debt markets in supporting the economic growth in addition to other several topics discussed in five sessions. Government officials and representatives from the World Bank and the private sector, as well as economists and financial partners in the capital market will participate in the conference. The conference sessions will include topics such as: elements of Sukuk markets, dynamics of Sukuk markets, establishment of an effective environment for Sukuk market, regulatory issues and governance in the Sukuk market, and the role of debt markets in economic growth. --More
