2022 Q1 Report En · Page 9

 
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Saudi Central Bank Organizes its Quarterly Workshop 
on Islamic Finance for 2021 Virtually 
The workshop witnessed the participation of numerous Is-
lamic Financial industry experts and interested individu-
als, and it was held as part of a series of SAMA-sponsored 
quarterly workshops dedicated to dealing with various 
topics and subjects related to the Islamic Financial indus-
try. 
Over the span of two sessions, two key Islamic Finance 
topics were discussed, the first of which was the several 
levels and differing types of sustainability, as well as the 
importance and the tools of sustainability in Islamic Eco-
nomics, during a session titled "Islamic Economics and 
Sustainable Development Goals."  As for the second topic, 
it was discussed during a session labeled "The Various 
Types of Sukuk and their Role in Sustainable Develop-
ment" discussing the establishment of Sukuk, their char-
acteristics and the role they play in ensuring sustainable 
development. The session also delved further into the dif-
ference between Sukuk and other types of assets, and it 
presented the most successful applications and experi-
ences linked to this unique Islamic Finance instrument on 
both a local and international level. 
Saudi Central Bank Opens Public Consultation on Prin-
ciples and Rules for Financial Consumers Protection  
The Saudi Central Bank (SAMA) announces opening a pub-
lic consultation on the draft principles and rules for the 
financial consumers' protection. In the interest of trans-
parency and wider participation, SAMA invites stakehold-
ers and public to provide suggestions and observations on 
the draft by visiting the Public Consultation Platform af-
filiated to the National Competitiveness Center. 
This initiative is part of SAMA's on-going efforts to pre-
serve the rights of consumers in getting fair and transpar-
ent treatment in financial services, commensurate with 
global best practices in this regard. 
S&P Affirms Saudi Arabia's Credit Rating 'A-/A-2' Out-
look. 
S&P has updated its Saudi Arabia’s credit rating Outlook 
Revised to Positive on Improving Fiscal And Economic 
Growth Dynamics, 'A-/A-2' Ratings Affirmed.  
The credit rating agency, S&P, updated its outlook for the 
Kingdom of Saudi Arabia from a stable outlook to a posi-
tive outlook, and at the same time, the agency affirmed 
the long- and short-term foreign and local currency sov-
ereign credit ratings to “A- / A-2”. The positive outlook 
reflects the improved GDP growth and public finances in 
the medium term, linked to the Kingdom's recovery from 
the COVID-19 pandemic impact, developments in the oil 
sector, and ongoing government reform programs. 
The Capital Market Authority Publishes the Draft of De-
veloping the Regulations and the Regulatory Rules of 
the Capital Market for Public Consultation 
As part of the Capital Market Authority's ("CMA") strategic 
objectives to regulate and develop the capital market. 
The CMA Board issued several resolutions during the first 
quarter of 2022, which included the publication of the 
following drafts for public Consultation: 
− 
Securities Exchanges and Depository Centers 
Regulations 
− 
instructions for Shariah Governance in Capital 
Market Institutions  
− 
the Instructions for Book Building Process and 
Allocation Method in Initial Public Offerings 
(IPOs) 
− 
the Rules for Registering Auditors of Entities 
Subject to the Authority's Supervision 
NDMC Publishes 2022 Annual Borrowing Plan 
NDMC B