2024-02-21 08:00:38
Riyadh – Mubasher: Richard Cormack, co-head of capital markets in Europe, the Middle East and Africa and co-head of investment banking in the United Kingdom at Goldman Sachs, revealed the company’s expectations that the weight of the Middle East and North Africa markets will reach 10% on the “MS” index. CI” for emerging markets, with Saudi Arabia representing 70% of this percentage.
Cormack confirmed, during his participation in a dialogue session within the activities of the third edition of the Saudi Financial Market Forum, according to a statement received by “Mubasher”, that these expectations mean the influx of active and passive investments worth approximately $50 billion into the Kingdom, which contributes to strengthening its position as a leading financial power equivalent to… The economic bloc in Latin America, which is considered the largest bloc outside Asia.
Cormack also stressed that the Kingdom continues to record strong performance in line with the performance of advanced financial markets, noting that the profitability factor for stocks traded in the Saudi financial market has reached approximately 21 times, which is the same ratio recorded for stocks traded in the American market.
The Saudi Financial Market Forum brings together an elite group of the most important figures and decision-makers in the financial sector, with the aim of promoting dialogue and innovation in the global financial scene and highlighting the importance of integration between emerging financial markets and advanced financial systems.
The forum focuses on several main axes, including the development of the financial market, investment strategies, and the most important regulatory developments, thus reflecting the Kingdom’s commitment to diversifying its economy and enhancing its strategic role in shaping the future of the global financial sector.
Through its diverse agenda, the forum seeks to provide a platform for holding fruitful dialogues and concluding partnerships, in addition to highlighting the pivotal role of the Saudi Tadawul Group in promoting the process of growth and transformation in the financial sector.
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