Saudi Arabia inks 6 MoUs to enhance education, investment, and sustainability

Saudi Arabia inks 6 MoUs to enhance education, investment, and sustainability
Saudi Arabia inks 6 MoUs to enhance education, investment, and sustainability

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia is set to enhance its education, investment, securities trading, and sustainability landscape with the signing of six agreements, aligning with Vision 2030 goals. 

In the first deal, the Ministry of Human Resources and Social Development and Saudi Exchange signed a new cooperation agreement on the sidelines of the third Saudi Capital Market Forum to launch a Social Responsibility Index.  

The pact will serve as a vital tool to assess and promote corporate social responsibility practices within listed companies on the Saudi Exchange.  

The launch aligns with national sustainability standards being developed by the Ministry of Economy and Planning, the Capital Market Authority, and the Saudi Tadawul Group.  

Additionally, the Index will provide valuable insights into companies’ dedication to social responsibility, featuring a rating system to assist investors and stakeholders supporting sustainable businesses.   

During the event, five additional agreements were signed, addressing key sector drivers such as education, investment, securities trading, sustainability, and tree planting.  

Furthermore, a memorandum of understanding was signed between the Saudi Tadawul Group and Atrum, supporting artistic initiatives, educational programs, and cultural exchanges within the Kingdom.   

This will happen through a strategic alliance leveraging both parties’ strengths and reach. The MoU underlines five key highlights: artistic collaboration, educational outreach, art investment, public art projects, and cultural exchange.  

The MoU highlights bringing art into public spaces, aiming to beautify Saudi cities with engaging installations. Atrum will take the creative lead, while Saudi Tadawul Group will provide logistical and promotional support.  

It will also prioritize educational outreach, nurturing local talent through art education programs, training, and creative workshops.   

Overall, this partnership reflects a shared commitment to cultivating a dynamic and diverse artistic landscape in Saudi Arabia.  

An MoU was signed between Riyad Capital and E Fund, a Chinese asset management firm, to foster knowledge sharing on local investment expertise and stimulate collaboration on developing future investment products.  

The agreement will serve as the foundation for any anticipated binding agreements related to the sharing of local investment expertise.   

Meanwhile, the Saudi Capital Market, Muqassa and Swiss cash management company Instimatch Global signed an agreement to launch a Repo Trading Platform for the Kingdom’s market.  

Under the terms of the MoU, Muqassa will play a crucial role as the central clearing entity for all Repo transactions on the new platform, ensuring a secure and efficient process for market participants.  

With Muqassa’s support, Instimatch Global AG will be responsible for continuously enhancing the trading platform to adapt to the ever-changing needs of its consumers.   

The MoU’s broad scope paves the way for future cooperation between the two parties in launching new goods and services on the Saudi capital market.  

In the realm of sustainability, Saudi Agricultural and Livestock Investment Co., wholly owned by the Public Investment Fund, has inked an MoU with the Saudi Exchange. The collaboration aims to delve into opportunities for sustainability, encompassing joint initiatives such as educational programs, awareness campaigns, and investor outreach activities. 

The agreement outlines a cooperative strategy to coordinate strategic activities, share knowledge through educational initiatives, and enhance transparency in sustainability efforts. 

To underscore the significance of sustainable development and its integration into corporate operations, both parties will engage in regular communications and collaborative marketing initiatives.  

The signing session concluded with an MoU between the Saudi Tadawul Group and Shatlat to support forestation in the Kingdom.  

This joint endeavor aims to address critical environmental issues and promote sustainable practices in Saudi Arabia.  

Tadawul Group will plant 300 trees for each occurrence of the Saudi Capital Market Forum and 50 trees for every company listing on the main market.   

The tree planting initiative extends to 10 trees for each company listing on the Nomu-Parallel market, among other initiatives in Riyadh to enhance the local ecosystem. Meanwhile, Shatlat will oversee the maintenance, irrigation, and provision of seeds. 

To enhance environmental sustainability, data and information will be shared between the Saudi Tadawul Group and Shatlat. The parties will collaborate on programs to enhance environmental preservation efforts across the Kingdom.

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