The Debt Markets and Derivatives Forum 2024 (DMDF 2024) was recently inaugurated in Riyadh by Mohammed Al-Quwaiz, chairman of the Capital Market Authority (CMA) and chairman of the Financial Academy’s Board of Trustees. Al-Quwaiz highlighted the significant growth of the Saudi debt market, which has doubled in value to SR800 billion since 2019. Despite this expansion, he noted that the debt market still accounts for less than 20 percent of the Saudi economy, leaving ample room for further development. He also emphasized the increasing diversity of investors in the market, with funds, insurance companies, and other entities entering the sector alongside traditional banks.
Al-Quwaiz pointed out that the next phase in the debt market’s evolution would involve attracting greater foreign investment by expanding the market’s scope and joining more global indices. He highlighted the favorable conditions in the Saudi debt market, making it an attractive option for foreign investors compared to the stock market. Al-Quwaiz also praised the Financial Academy for its contributions to the sector, particularly through its training initiatives, which have benefited over 400 professionals in 2024 alone and continue to provide development programs for industry workers.
The Executive Director of the Financial Academy, Mana Al-Khamsan, welcomed participants to the forum, positioning it as a crucial platform for financial market experts and decision-makers. He described the event as instrumental in addressing emerging trends and shaping the future of the financial sector. Al-Khamsan outlined the forum’s agenda, focusing on exploring opportunities in the bond and Sukuk markets and examining financial derivatives. This year’s event featured partnerships with leading entities such as the Saudi Tadawul Group, the Chicago Stock Exchange, and the International Capital Market Association (ICMA), facilitating in-depth discussions on futures’ markets and related topics.
Al-Khamsan announced the launch of a new professional certificate in partnership with ICMA, titled “Introduction to the Saudi Financial Market,” aiming to enhance participants’ understanding of Saudi financial markets. The certification will help deepen knowledge and prepare professionals for future developments in the sector. The forum emphasizes long-term strategies to support the Kingdom’s financial sector, aligning with Saudi Vision 2030. Sessions focus on exploring the dynamics of financial markets and incorporating expert insights into current trends and future needs, particularly in the debt and derivatives markets, which have undergone significant regulatory and legal reforms.
The participation of international players like the Chicago Stock Exchange underscores the forum’s global outlook and Saudi Arabia’s commitment to developing a diversified and innovative financial sector. The collaboration between local, regional, and international entities showcases a blend of global expertise and localized knowledge, enabling efficient and impactful programs to meet the financial market’s demands. Al-Khamsan reiterated the Financial Academy’s central role in supporting the sector’s growth through education, training, and certification programs, aiming to empower professionals and position Saudi Arabia as a leader in financial services innovation globally. Overall, the DMDF 2024 represents a pivotal moment for Saudi financial markets, fostering performance improvements, enhancing financial awareness, and promoting innovation in financial services.
