Jasem Al-Budaiwi, Secretary-General of the Gulf Cooperation Council (GCC), emphasized that the "Gulf Smart Investor Award" plays a vital role in enhancing financial literacy across Gulf states, conveying an important message: smart investment begins with knowledge, is built on planning, and flourishes in a sound and aware financial environment.

The GCC General Secretariat stated in a press release on Thursday that Al-Budaiwi made these remarks while presiding over the third edition of the Gulf Smart Investor Award, an initiative under the Gulf Investment Awareness Program (MALM). The ceremony was held in Riyadh yesterday and attended by Mohammed Al-Quwaiz, Chairman of Saudi Arabia's Capital Market Authority (CMA), along with officials from GCC countries.

Key Highlights:

• Al-Budaiwi expressed pride in the MALM program, which plays a pivotal role in promoting financial literacy and raising investment awareness among Gulf individuals and communities.

• He stressed that financial literacy is no longer a luxury but a necessity, especially amid rapid changes in global and regional financial markets.

• "Financial awareness is the cornerstone of financial security and sustainable growth, both individually and societally," he stated.

• "It enables individuals to make sound financial decisions, manage resources effectively, and pursue well-planned investments that align with their future aspirations."

GCC Market Performance in 2024:

• Total market capitalization exceeded $4.2 trillion

• Traded shares reached 336.3 billion, a 20.9% increase from 2023

• Trading value surged to $682.2 billion, up 28.4% year-on-year, reflecting growing confidence from local and international investors

About the Award:

• Part of the MALM program, which aims to educate Gulf citizens on investment best practices

• Encourages long-term, knowledge-based investing over speculation

• Aligns with GCC economic diversification goals