Business & Money | Monday 1 May, 2017 1:35 pm |

The Middle East Investor Relations Association (MEIRA) has launched a new chapter in Saudi Arabia, supported by the Saudi stock market “Tadawul”, to further develop best practice in Investor Relations (IR) across the Kingdom.

The Saudi MEIRA chapter was formally inaugurated at a ceremony of founding members who have been long-standing partners in the regional development of IR: Ikram Ulhaque from Almarai, Walid Al Hakim from Ma’aden, Faisal Al Modlij from Sipchem, Rayan Al Karawi from Zain KSA and Samantha Bartel Al Khalaf in the Saudi stock market “Tadawul” offices on Thursday, 27 April.

Commenting on the new chapter, Alex MacDonald-Vitale, Chairman of MEIRA said, “As the biggest market in the GCC, we are delighted to announce the inclusion of Saudi Arabia in the regional IR network. This timely launch of the Saudi MEIRA Chapter follows many years of commitment and dedication to raise awareness of the importance of IR in the Kingdom. We look forward to working closely with local Investor Relations Officers (IROs), their companies, and the Tadawul, helping Saudi Arabia accede to ‘Emerging Market’ status, and providing ongoing support for the development of international standards in IR and corporate governance across the Kingdom”.

MEIRA is a not-for-profit organisation that aims to promote IR best practice throughout the Middle East. The Saudi MEIRA Chapter will help foster a culture of effective communication between listed companies, exchanges, regulators, advisers and the buy and sell side communities in the Kingdom, and to promote transparency in the market.

Walid Al Hakim, Chairman of the Saudi MEIRA Chapter added, “The establishment of the Saudi MEIRA Chapter is fully aligned with Saudi Arabia’s 2030 vision and the plans to diversify the Kingdom's economy, open up the Saudi stock market “Tadawul” to international investors,  and the inclusion of Saudi Arabia in the MSCI, FTSE and S&P Emerging Markets Indices.

The Saudi MEIRA Chapter will act as a knowledge hub where IR professionals can come together to network and learn from international leaders in IR, and will support the advancement of the Tadawul as the primary Middle East stock exchange. Furthermore, enhancing local practice in IR by facilitating more effective communication between listed companies and the capital markets will encourage the active participation of more international investors”.

Members of the Saudi MEIRA Chapter will now have access to a wealth of IR knowledge from global leaders in the profession in the form of cutting-edge educational programs and will be able to benefit from engaging local events aimed at uniting and advancing the IR community.