The capital market in Saudi Arabia unofficially dates back to the early 1950s, and was revitalised by the government in the 1980s with the establishment of the Capital Market Authority (CMA) as an independent body reporting to the Prime Minister.

Saudi Arabia Royal Decree No. M30/1424 Related to the Capital Market Law (Saudi Arabia Cabinet Decision No. 91/1424 On the Approval of the Capital Market Law) was enacted to create a fair, efficient and transparent capital market.

Saudi Arabia Royal Decree No. M30/1424 (Saudi Arabia Cabinet Decision No. 91/1424) has undergone several amendments, the latest being Saudi Arabia Royal Decree No. M16/1441 Amendment Of The Capital Market Law (Saudi Arabia Cabinet Decision No. 52/1441 Amendment Of The Capital Market Law). Saudi Arabia Royal Decree No. M30/1424 (Saudi Arabia Cabinet Decision No. 91/1424), as amended, includes 67 articles across ten chapters.