Saudi Arabia has appointed Abdul Rahman Al-Tuwaijeri, secretary general
of the Supreme Economic Council (SEC), as acting chief of the Capital Market Authority (CMA), replacing Jammaz Al-Suhaimi.
Tadawul soared on the back of the announcement as it restored some confidence among investors. There was disenchantment among investors after the adoption of recent measures by Suhaimi. Mohamed Ramady, professor at KFUPM, highlighted the more important issue is how the CMA is managed rather than by whom.