Saudi CMA Vice Chair Gets 'Excellent' Grade in Royal Decree

King Salman issued a royal decree approving an amendment to Article 7 of the Capital Market Law, elevating the vice chairman of the Capital Market Authority to the excellent grade. The change, published under Royal Decree No. M/30, adjusts the rank of the position without altering the law's broader framework.

The excellent grade is the highest civil service classification in Saudi Arabia, typically reserved for ministers and senior officials. The upgrade signals a formal recognition of the vice chair's role within the regulator's hierarchy.

The decree did not name a new vice chair or specify a timeline for implementation. The amendment takes effect from the date of publication in the official gazette.