They stressed the need for its
developmental role for "the economy"
Economists,
academics, experts agreed on the importance of activating the role of small and
medium institutions in economic growth, stressing the pivotal role in raising
the efficiency and performance of the national economy. They pointed that small and medium institutions
improvement is of the most important issues that occupies a priority among the
social and economic development in the Kingdom of issues, where these
facilities represent great importance in the economies of the Kingdom of
development and leads its work alongside big institutions to the integration
and perfection of economic structures, which helps to speed the improvement,
and increases the rates of growth, and contribute to the overall progress, finance, and updating the regulations and legislation that produce the energies
of small and medium institutions and their potentials.
"The economy" issued by Asharqia Chamber in the new issue has shed light on the small and
medium institutions and a number of experts and academics opinions who called
for the need to enhancing the role of "the General Committee for small and
medium institutions" with the strategic goals of the vision of the Saudi 2030.
The Specially that the establishment stage represents the first obstacles the
initiators of the small and medium institutions owners face, and they demanded a
bigger role of the "General Committee for small and medium institutions"
the small investors and owners of free initiatives. "The economy"
also commented on the discussions over two days in the small and medium institutions
sixth forum held recently in Asharqia Chamber.
"The
economy" visited History in Riyadh, the "Jufrah" market in
central Riyadh, Saudi Arabia, and described this market that it may be strange,
but it is the strongest market in the world, with its documents. It is one of
the strangest economic, financial and financing markets, not only in the Kingdom,
but perhaps the "strangest" in the world. This market, which disappeared from sight,
and disappeared from the scene, after works outside
the mind and time, and fairy tales like fantasy have been told about, witnessed
millions of transactions, with benefits that might reach 100%, under impossible
conditions to be controlled to be put on the list vanished debt, with no opportunity
for delaying payment, and no possibility
to visit police stations and courts to recover the amounts of lending and
funding with its high benefits, as the contracts
agreed on by the market, to restore "the loan and its benefits" is so precise and authenticated!.
"Jufrah" market seemed to visitors
decades ago a market to sell food and get a living, but the visitor to the
market for the first time would think it is of the ancient markets, and that those
sitting inside its mud shops are people
outside of time, and their presence in the market is a matter of entertainment
and passing hours of the day with stories, and their books embrace thoughts and memories, notes, names
and contracts for sale, like bills to buy with coins and a handful of riyals,
but the reality says that they are financing and lending with millions, and
that what has been written in these books is the finance documents from the shops,
that can be compared to the finance
departments in the most prestigious banks and unique guarantees for recovery, even banks cant compete and mortgages and, exceeding
with the accuracy the collecting departments in the biggest banks and companies.
"The economy " commented on the Saudi stock
market "Tadawul" and said that there is a threat to eight companies
in the market of suspension or cancellation, under the system of the Saudi stock
companies, due to the their losses in the past period, which ranged from 50 to
75% of the amount of the its capital, as the system of stock companies states,
that '' if the stock company losses
amount to three quarters of the capital, members have to call the extraordinary
General Meeting, to consider the continuation of the company or resolving it before the time determined in its system. If the board
members ignored the call of the Extraordinary General Meeting or failed to find a solution for the subject, then
it is possible to any interested party to demand a dissolution of the company.
"The
economy" spotted the reality of those companies and the amount of their losses in numbers that
indicate that several companies faced the risk of suspension of trading in stock
market over the past years, as a result of the accumulation of losses.
In the "Profile" section, "the
economy" a biography of the late Highness Princess Mashael bint Faisal bin Turki bin Abdulaziz,
and said she left the world, but will live in the public conscience, who does
not forget his loyal sons and daughters and
will remain "alive" with her work that will remain "a title"
for Saudi women, a witness to her love for her country, and will remain a model
for loyalty, faithfulness, and giving,
a pioneer, translated ideas into actions,
and the words to actions in the interests of the society, and enhances its
values and principles, and stays terminal for people benefit.
