SFC meets Capital Market Authority and Saudi Tadawul Group in Saudi Arabia

The Securities and Futures Commission’s (SFC) Chief Executive Officer, Ms Julia Leung, and its Executive Director of Investment Products, Ms Christina Choi, concluded their Middle East business trip after meeting yesterday with the head of the Capital Market Authority (CMA) and senior executives of Saudi Tadawul Group (parent company of the Saudi Exchange) in Riyadh, the Kingdom of Saudi Arabia.

During yesterday’s separate meetings with the CMA’s Chairman Mr Mohammed bin Abdullah Elkuwaiz and its Commissioner Mr Abdulaziz Abdulohsen Bin Hasan and a group of executives from Saudi Tadawul Group including Mr Mohammed Al Rumaih, CEO of the Saudi Exchange, the parties discussed how to strengthen collaboration in financial services between the Hong Kong SAR and Saudi Arabia. They also explored a potential supervisory Memorandum of Understanding and exchanged views on a range of issues of mutual interest, including facilitative measures related to cross-listing of ETFs in both capital markets. The meetings followed the first international Capital Markets Forum, which was co-organised by Saudi Tadawul Group and the Hong Kong Exchanges and Clearing Limited in Hong Kong on 9 May 2024.

In addition, Ms Leung and Ms Choi took part in a roundtable with leading local asset managers and financial institutions in Riyadh yesterday. They discussed the regulatory and market landscape in Hong Kong, including the state of affairs and opportunities of the asset and wealth management sector.   

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