Saudi Stock Market

According historical notes, the first timeworn foodstuff company in Saudi Arabia was established in the third hug drug of the 20th century. Nevertheless, stock trading was initiated only by the end of the 90s/ as a result, a significant increase in the number of stock exchanges was observed. In 1984 stock companies were allowed to regulate stock trading themselves through local banks and to forge panel for supervising market. In the beginning, the stock market was regulated by the Minister of Finance and the governor of Saudi Monetary Agency. Saudi line of business Exchange) Actually, the Saudi stock market has significantly developed over the last decade and nowadays Saudi Stock Exchange (Tadawul) is the largest in the Arab world. The capitalization of the stock exchange is amounted at $58 billion. Consequently, the increase in a number of stick stock companies trading shares is observed as well. So, the current bewilder of the stock market is strengthening. About 70 firms and companies are listed on the stock Market.Today, the Saudi Arabian Monetary Agency regulates the operation and trade of the stock market. Moreover, foreign investors are allowed to participate in the Saudi stock market through establishing mutual funds. (Saudi Stock Market) According official statistics, in 1997 the number of shares traded was amounted at 312. 4 million, and, thus, was valued at $16. 6 billion. In 1998 the total value of traded shares decreased because of significant fluctuations in the international stock markets and financial markets.It was amounted only at 144. 3 million and valued at ?13. 6 billion. (Saudi Stock Market) To understand better the current position of Saudi stock market it is necessary to provide its financial summary Value traded 12,117,480,717. 00 Traded volume 288,915,237 Trades 242,096 Symbols traded 109 Symbols up 31 Symbols down 69 (Saudi Stock Exchange) speak about the companies listed on the stock market it is necessary to outli ne the first ten companies 1. Saudi Kayan 73,544,362 2. Dar Al Arkan 30,334,318 . Jabal Omar 28,865,643 4. Kingdom 10,472,520 5. Shipping 10,007,032 6. Saudi Electricity 9,918,619 7. Al Raiji 9, 834, 346 8. SABIC 7, 768,456 9. SPM 6,593,6748 10. RIBL 5,379,256 (Saudi Stock Exchange) Saudi stock market provides a wide range of activities and service such as, for example, opening accounts and depository at both the banks. Next, stock market offers support for full range of depository functions. For example, it is easy to pledge shares which are help in the depository.When a bank reaches particular agreement with foreign or domestic investor, the details are automatically forwarded to the depository. The availability of shares is automatically validated by the tock market. Finally, Saudi stock market supports corporate actions. It means that instead of postponement for cheques it is possible to be paid directly into bank account. Summing, up Saudi stock market doesnt take le ading positions in the world yet, merely it is swiftly developing. (Saudi Stock Exchange)