The King Abdullah Financial District will be the headquarters for the Capital Market Authority (CMA) and the Stock Exchange (Tadawul), and for financial institutions and other service providers such as accountants, auditors, lawyers, analysts, rating agencies, consultants, and IT providers.
#4SHADOW PORT 9633 PROFESSIONAL#
Many of the world's major banks, financial institutions and professional service companies - already operating in Saudi Arabia - have indicated their intention to locate in the District in order to play a major part in the diversification of the world's major oil economy. The King Abdullah Financial District is designed as a state-of-the-art and fully self contained centre for doing business and facilitating investment and enterprise in the Kingdom and, in due course, in the wider region. Construction will begin in 2007 and will create thousands of construction and related jobs over an intense three year period of building and development. The master plan for the King Abdullah Financial District will be completed by the end of the year. It will be a multi-year project during which Saudi Arabia - already the world's oil capital - will consolidate its position as the Middle East's financial capital. The site is 1.6 million square metres and the development will have floor space of over 3 million square metres. Saudi Arabia's financial district will be built close to the business centre of Riyadh. And a host of other reforms such as the licensing of international banks, insurance and investment companies.The Capital Market Authority, which has introduced international-class regulation to the capital market.Tadawul, one of the world's most technologically advanced stock exchanges.It will follow the successful launch of:. The intention to construct the world's first major financial district of the twenty first century is the latest stage in what is already a carefully planned and implemented programme of financial modernisation by Saudi Arabia. 'We are blessed with a robust economy, a stable currency and a strong financial sector with equally strong supervision.'
It will be the Middle East's first financial district on a scale, and of regulatory and technological standards, to match the major global financial centres.Įxplaining the background to the Kingdom's ambitious but attainable strategy, His Majesty said: Follow the KAFD Thread in the Saudi Arabia SSC Forum:
0 kommentar(er)
