Page 6 - நிதி துறை வளர்ச்சி ப்ரோக்ர்யாம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Saudi Telecom : Chairman of stc and the CEO Acknowledge the Saudi Leadership for Licensing stc Bank as the First Digital Bank in the Kingdom
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MODON Announces Incentive Package to Encourage Company Listings on Tadawul
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2021-05-24T17:28:00+01:00
The Kingdom’s insurance sector closed the financial year 2020 on a high note with the aggregate net profit of local insurance firms, except for the Saudi Indian Company for Cooperative Insurance, rising to SR1.443 billion ($0.38 billion) in Q4, an increase of 47 percent year-on-year, according to data compiled by the financial news service Argaam.
There were 13 insurers recording higher profits in 2020, led by the Mediterranean and Gulf Insurance and Reinsurance Co., which surged 1,081 percent, the Saudi Arabian Cooperative Insurance Co., which increased 545 percent, and the Gulf General Cooperative Insurance Co. which saw net income up 397 percent.
The sector finished out the tough year on a high note mainly thanks to government support.
Saudi Securities Depository Center Company (Edaa) Announces The Regulation Of The International Central Securities Depositories (ICSDs) Instructions By The Saudi Capital Market Authority Date
09/05/2021
The Securities Depository Center Company (Edaa) announced today the Capital Market Authority’s (CMA) approval of the International Central Securities Depositories (ICSD) Instructions. Through these changes, Edaa aims to develop a consistent regulatory environment which is aligned with international best practice and helps to raise the efficiency and attractiveness of the Saudi capital market for foreign investors, while increasing the demand for debt instruments and ETFs listed on the Saudi Exchange.
This comes as part of the continuous development efforts by Edaa to build and strengthen bridges between issuers and investors, as well as provide market participants with secure and efficient services.
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