Saudi Stock Exchange drills deep benefits from XBRL
The Saudi Stock Exchange (TADAWUL) was founded on 19th March 2007 after receiving approval from Council of Ministers. Its primary objective is to ensure capital market integrity that includes fair functioning and assurance of quality. Being the market controller, it develops service excellence for customers (brokers, issuers, investors, vendors, etc.) and constantly strives to enhance the exchanges’ competence. Tadawul opted for XBRL to transform its existing reporting platform to improve transparency in the Saudi capital market for investors. At the same time, Tadawul also wanted to generate revenue from the valuable information set that gets created through XBRL submissions. IRIS used its globally proven iFILE framework to develop the reporting platform. Read more about it in this case study.