RIYADH – Custodian of the Two Holy Mosques King Abdullah has appointed Mohammed Bin Abdulmalik Al-Shiekh as the new Chairman of the Capital Market Authority (CMA) at the rank of minister, according to a Royal Decree. Dr. Abdulrahman Al-Tuwaijri was relieved of his post, said the Royal Decree carried by the Saudi Press Agency (SPA) Tuesday. The King instructed the appropriate authorities to carry out the order immediately. The move comes in tandem with other new appointments in the Kingdom. Since January, King Abdullah has taken many decisions including allowing women to be members of the Shoura Council. The King appointed Prince Muqrin Bin Abdul Aziz as Second Deputy Premier. He also appointed new emirs for the Eastern Province and for Madinah. The Capital Market Authority was established by the Capital Market Law on July 2, 2003. The CMA's functions are to regulate and develop the Saudi Arabian Capital Market by issuing required rules and regulations for implementing the provisions of Capital Market Law. – SG
