Tadawul Launches the Saudi Capital Market Awards 2020 to Celebrate Exemplary Market Participants in collaboration with CFA Society Saudi Arabia and the Middle East Investor Relations Association (MEIRA)

The Saudi Stock Exchange (Tadawul) announces launching the Saudi Capital Market Awards 2020 (the SCM Awards), which will be held annually. The SCM Awards have been established to recognize excellence and leadership displayed by listed companies; brokers, custodians and financial advisors, who are championing the development and growth of Saudi Arabia’s capital market.

Khalid Al-Hussan, Tadawul’s CEO and Board Member, commented: “We are delighted to announce the Saudi Capital Market Awards 2020, a program designed to shine a light on a wide range of outstanding market participants who are raising the bar, promoting fair competition, and advancing Saudi Arabia’s capital market, in line with the financial sector development program, a Vision 2030 execution program. The SCM Awards advances Tadawul’s commitment to the highest standard of practice, in order to drive growth of our capital market and attract new listings across the Kingdom.”

The SCM Awards will include the four following categories: “Best Investor Relations Awards”, “Best Custodian Award”, “Best Broker Award”, and “Most Notable Listing Award”.
Tadawul in cooperation with its partners, CFA Society Saudi Arabia and MEIRA, will provide awards according to transparent and clear criteria that will be disseminated to all market participants and will be available on Tadawul’s website.

Commenting on the partnership, Ahmad Kordi, CFA President of CFA Society Saudi Arabia said, “CFA society Saudi Arabia is proud to further its partnership with Tadawul through the Saudi Capital Market Awards. What differentiates these awards is the impartiality of the awards right through from setting the criteria to the awarding process, and more importantly is the fact that the society is a completely independent body that has no conflicts of interests whether financial or otherwise with any of the stakeholders. Finally, we would like to highlight that these awards are aligned with the society’s mission of promoting the highest standards of ethics, education, and professional excellence.”

“MEIRA is delighted to be part of the inaugural Saudi Capital Market Awards. The awards represent the setting of a new benchmark against which market participants can gauge their efforts and results among peers. Investor Relations Best Practice is a key building block of any securities market. As part of the ongoing capital market development in the Kingdom, the new Awards testify to the commitment of the Exchange to leading by example as we drive stakeholder value together,” said Andrew Tarbuck, MEIRA Chair.

Eligible entrants will be evaluated, by an independent committee formed by CFA Society Saudi Arabia and MEIRA, that will not include any member of Tadawul. The committee will select the
winners for each award category and the SCM Awards will be presented at a ceremony held during the first half of 2021.