The Capital Market Authority (CMA) issued on November 15, 2006 regulation number 1-212-2006 concerning the corporate governance system in the Kingdom of Saudi Arabia. The regulation aimed at enhancing the financial market when the corporate governance concepts become vital to measure the quality and performance of the market.

CMA was established by the Capital Market Law, issued by Royal Decree No. (M/30) dated 2/6/1424 H (16th June, 2003). The CMA is a government organization with financial, legal and administrative independence. It reports directly to the Prime Minister. The CMA functions are to regulate and develop the Saudi Arabian Capital Market. It issues the required rules and regulations for the implementation of the provisions of Capital Market Law aimed at creating an appropriate investment environment.

For more information please visit the following website: www.cma.org.sa