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Saudi Arabia Capital Market Authority Advisory Committee

The Board of the Capital Market Authority (CMA) issued a resolution to recompose the Advisory Committee for its sixth term to comprise of 12 part-time members from market participants, experts, specialists and experienced college professors. The Committee's composition took into consideration a wider representation of market participants. The members are as follows: 

  • Mr. Rashid S. Al Rashoud – Partner, Ernst & Young
  • Mrs. Rania M. Nashar – CEO, Samba Financial Group
  • Dr. Roland Bellegarde - Senior Advisor to CEO, Tadawul
  • Mr. Tariq Z. Al Sudairy - Managing Director & CEO, Jadwa Investment Company
  • Mr. Abdulsalam A. Al-Manei, Deputy, Agency for Internal Trade, Ministry of Commerce & & Industry (MCI)
  • Dr. Abdulaziz H. Algaeed, Associate Professor of Economics, Dar Al Uloom University
  • Mr. Abdulwahab A. Al Betairi, Managing Partner, Watar Partners
  • Dr. Adnan A. Soufi, Founder & Managing Director, DAS Partners
  • Mr. Ali F. Almarzouki - Head of Compliance, NCB Capital
  • Mr. Emad S. Al Kharashi – Governor, General Authority for Awqaf  
  • Mr. Fahad Al Dehais - Managing Partner, Mohammed AlDhabaan and Partners in association with Eversheds Sutherland
  • Dr. Mulhim H. Al Mulhim – Lawyer & Legal consultant, Founder of Al Mulhim Lawyers & Consultants


The CMA's Board had previously issued a resolution on 2/11/1434H (corresponding to 8/9/2013G) 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 creating a regulated mechanism for such interaction in order to support the CMA in fulfilling its functions and achieving its goals.

On this occasion, the CMA's Board would like to express its appreciation to the previous Advisory Committee for their great efforts and contributions, as well as their transparent and unbiased views and recommendations on all aspects which have develop the capital market and ensuring investors' protection.

The Board has also appreciated the role played by the Committee as an advisory body by making recommendations and suggestions on any issues that might need to be explored at the request of the CMA's Board, deliberating topics and suggestions highlighted by market participants and seeking their feedback on any proposed new or amendments to policies which the CMA wishes to adopt, as well as any issues raised by the Committee which are essential to the capital market industry.

During the previous term, the Advisory Committee had scrutinized on several important issues and had provided with their valuable views and recommendations, amongst others:

  • CMA's Strategic Plan
  • Developing Nomu Market
  • Enhancing Investor relations rule in listed companies
  • GCC's capital markets integration
  • Foreign strategic investors' ownership in listed companies
  • Investment Funds regulations
  • Public consultation practice
  • Client's suitability 
  • Encouraging private sector companies to list on capital market
  • Suggested amendments on Capital Markets Law
  • Symptoms of independence in Corporate Governance Regulations​

Brief information of the Advisory Committee's members for the sixth term can be viewed on the CMA's website via the following link:

Advisory Committee​​

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