GCC Chief: (Gulf Smart Investor Award) Enhances Financial Culture, Conscious

(MENAFN- Kuwait News Agency (KUNA)) RIYADH, May 8 (KUNA) -- Gulf Cooperation Council's (GCC) Secretary-General Jasem Al-Budaiwi said that "Gulf Smart Investor Award" is a message to society that smart investment begins with knowledge, is enhanced through planning, and flourishes within a healthy and aware financial environment.
This statement was made on Wednesday during his patronage of the 3rd edition of the Gulf Smart Investor Award ceremony, which is one of the initiatives of the Gulf Investment Awareness Program "Mulim", which was attended by Chairman of the Board of the Saudi Capital Market Authority Mohammad bin Abdullah Al-Kuwaiz, along with a number of officials from the GCC countries, in the city of Riyadh.
At the beginning of his address, Al-Budaiwi expressed his utmost gratitude, appreciation, and recognition to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud and to the Crown Prince and Prime Minister Mohammad bin Salman bin Abdulaziz Al-Saud for the Kingdom of Saudi Arabia's patronage of this award, and for the facilities and support extended to ensure the success of the Council's work.
Moreover, His Excellency acknowledged the support and attention given to joint Gulf efforts by them and the leaders of the GCC countries.
Furthermore, Al-Budaiwi expressed his pride and honor in the initiatives of the "Mulim" program for investment awareness in the GCC countries, recognizing its pivotal role in promoting financial literacy and raising investment awareness among individuals and Gulf societies.
"Instead, it has become a protective shield and an essential necessity for anyone seeking financial security and sustainable growth. Anchoring the foundations of financial awareness in our society serves as the cornerstone for building a secure and stable financial future, not only at the individual level but for the entire societal structure," said Al-Budaiwi.
He affirmed that this awareness empowers individuals to make informed and conscious financial decisions, contributing to the efficient management of their resources and directing them towards optimal choices.
Additionally, he mentioned that the Gulf financial markets witnessed positive performance in the past year, reflecting the strength of the economic structures in the GCC countries.
"The total market value of the Gulf financial markets exceeded approximately USD 4.2 trillion by the end of 2024. The same year also saw an increase in both the number of shares traded and the value of trading; with 336.3 billion shares traded, an increase of 20.9 percent compared to the number of shares traded in 2023.
"The value of shares traded during 2024 amounted to approximately USD 682.2 billion, an increase of 28.4 percent compared to the previous year. This reflects the confidence of local and international investors in our countries' economies and underscores the importance of investing in spreading awareness and enhancing financial literacy to preserve the gains that have been achieved," he noted.
Al-Budaiwi concluded his speech by reiterating his thanks and appreciation to the Capital Market Authority in the Kingdom of Saudi Arabia for its patronage and annual hosting of this award, and to its partners in this purposeful initiative. (end)
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