Fsdp Quarterly Newsletter Q1 2024 Vf · Page 6

 
6  | 
"The 
Capital 
Market 
Authority” 
Approves 
the 
Instructions 
on 
the 
Offering 
of 
Real 
Estate 
Contributions Certificates 
The Capital Market Authority's (“CMA's") Board approved 
the Instructions on the Offering of Real Estate 
Contributions Certificates, the amendment of the Rules 
on the Offer of Securities and Continuing Obligations and 
the Glossary of Defined Terms Used in the Regulations 
and Rules of the Capital Market Authority, to be effective 
from the date of their publication. 
The Approval of the said Instructions comes based on the 
CMA's roles as stipulated by the Real Estate Contributions 
Law specifically in regulating the register of shareholders 
for real estate contribution and regulating the issuance 
of the real estate contribution certificate, which proves 
the shareholder's ownership of a share in the real estate 
contribution. In addition, the agreement with the Real 
Estate General Authority (REGA) regarding regulating the 
collection of funds for the purpose of offering real estate 
contributions, to keep pace with the great development 
witnessed in the real estate sector, and to open new 
financing and investment channels. 
The Instructions aim to regulate registering and offering 
real 
estate 
contribution 
certificates, 
including 
determining the requirements to be met before the 
certificates offering, marketing, announcing them, or 
collecting funds for them, and the requirements for 
private and public offerings of these certificates, in 
addition to regulating the obligations of the capital 
market institution through which the offering shall take 
place, regulating the shareholders' register and the 
requirements of maintaining books and records. 
The Minister of Finance Approves the 2024 Annual 
Borrowing Plan 
The Minister of Finance, H.E. Mohammed bin Abdullah Al-
Jadaan, approved the Annual Borrowing Plan for the year 
2024 after the endorsement by the National Debt 
Management Center's board in its last meeting. The plan 
includes public debt developments, debt markets 
initiatives for the year 2023, and the 2024 funding plan 
and its guidelines, in addition to the calendar of domestic 
Sukuk issuances under the Local Saudi Sukuk Issuance 
Program in Saudi Riyal. 
Listing and Trading Government Debt Instruments in 
the Saudi Stock Exchange 
Tadawul has approved through Q1 2024 the listing 
submitted by the Ministry of Finance to list government 
debt instruments of a previously listed category with a 
total value of SAR (15,971,087,000) and the listing of 
government debt instruments of a new category with a 
total value of SAR (5,169,025,000). 
Exempting Capital Market Institutions from the
Requirements of Article (42) and (43) of the Capital 
Market Institutions Regulations 
Based upon the Capital Market Law issued by Royal 
Decree No. (M/30) dated 2/6/1424H, the CMA Board of 
Commissioners issued its resolution dated 05/06/1445H
corresponding to 18/12/2023G exempting Capital Market 
Institutions from the requirements of Article Forty-Two
and Article Forty-Three of the Capital Market Institutions 
Regulations in the following cases: 
(A) When conducting securities business activities with a
client or for his account (ultimate beneficiary) who is 
a client of a capital market institution licensed to 
conduct management activities and takes investment 
decisions on behalf of its client. 
(B) When conducting securities business activities with 
financial technology companies permi