Riyadh, SPA: The Capital Market Authority's (CMA's) Board issued a resolution to recompose the Advisory Committee for its tenth term, which includes eleven part-time members, representing market participants, experts, specialists, and experienced academics.
In its tenth term, the Committee will work towards providing recommendations and suggestions for any topics presented by the CMA Board to be studied in addition to discussing the topics and suggestions of the market participants and monitoring their reactions to any new changes or policies to be adopted by the CMA as well as expressing opinions and recommendations on anything that would contribute to market development and protection of securities investors.
The Committee will exercise its tasks as an advisory body for the CMA Board. It is comprised of a number of part-time members including the following: Dr. Nabeel Koshak - CEO of Saudi Venture Capital Company (SVC), Dr. Waleed Abdullah Al-Mogbel - Managing Director and CEO of Al-Rajhi Bank, Dr. Abdulwahab AlGahtani - Associate Professor at the King Fahd University of Petroleum and Minerals and economic writer, Dr. Sultan Almasoud - Partner, The Law Firm of Dr. Sultan Almasoud in association with Shearman & Sterling LLP, Eng. Omer Abdullah Alnomany - CEO of Arabian Internet and Communications Services Co., Adel Al-Ateeq - CEO of Awaed Financial Assets Company, Khlood Abdulaziz Aldukheil - CEO of Erteqa Financial Company, Rashed Ibrahim Sharif - CEO of SNB Capital, Abdulaziz Alomran - CEO of Impact, Basem Alsallom - Managing Director Sure Global Technology, and Saleh Abdullah Alyahya - Partner at Alluhaid & Alyahya Chartered Accountants ("LYCA").
The CMA's Board expressed its gratitude to the members of the Advisory Committee in its ninth term who ended their membership term for their distinguished efforts, tangible contributions, and their transparent and unbiased opinions and recommendations.
It is worth mentioning that the CMA's Board had previously issued a resolution on 2/11/1434H (corresponding to 8/9/2013) to approve the CMA's Advisory Committee Regulations pursuant to the Capital Market Law (CML). The main purpose of this resolution is to enable effective communication between the CMA and all different market participants and create a regulated mechanism for such interaction in order to support the CMA in fulfilling its functions and achieving its goals.