Tadawul and Middle East Investor Relations Society promote IR best practice in Riyadh

This important education initiative aimed to ensure an appropriate level of factual knowledge of regulatory requirements and financial markets, which will enable investor relations practitioners to operate competently in their roles.

Delivered by international experts from Citibank, JP Morgan, Shuaa Capital, Mobily, National Bank of Abu Dhabi and Samba Capital, the workshop encouraged active discussion from delegates on the latest techniques and best practices in IR.

Attendees of the event were issued with a participation certificate and will be eligible for attending the ME-IR Society's 'Certified Investor Relations Officer' training programme.

Mr. Abdullah Alsuweilmy, CEO of Tadawul and keynote speaker at the event, commented, "Following on from Tadawul's initiative of organizing an investor relations workshop in 2011, the 2012 workshop coincides with the continued development of the Saudi capital market. We believe that events such as these help raise awareness of IR and the important role it plays in functioning capital markets. We hope to see more listed companies in Saudi Arabia increase their involvement in similar IR activities and continue their work in adopting international best practices."

Oliver Schutzmann, Chairman of the ME-IR Society's Education Committee and Head of Investor Relations of SHUAA Capital, said, "Investor Relations Officers are the future ambassadors of Corporate Saudi Arabia. Thanks to the progressive vision of Tadawul, we already see more companies within Saudi Arabia applying international best practice, disclosure and transparency standards and a growing recognition of Investor Relations as a strategic management function. Our joint education initiatives have been designed to ensure that Investor Relations Officers representing Saudi Arabian companies to the global investment community have proficiency in the ethical and professional standards of the investor relations profession as well as specific knowledge to implement successful investor relations strategies."

Mr. Schutzmann's comments were complemented by a study completed by The National newspaper in the UAE this week which concluded that with the continued effort of the market authorities, Saudi Arabia could become the main financial center of the GCC.

Mr. Nader Nuwayhid, Head of Investor Relations at Mobily and a member of the ME-IR Society, added, "The ME-IR Society aims to provide increased levels of support to companies within the Kingdom through various education initiatives and networking events. In partnership with Tadawul, we believe this continuous effort will help to unlock the full potential of listed companies in the Kingdom, and contribute to the future success of Saudi capital markets overall."