Saudi Capital Market’s Operating Systems Deemed Secure amid Global IT Outage
The Saudi Capital Market Authority (CMA) affirmed the safety of Saudi Market’s operating systems following a global IT outage that affected 8.5 million Windows devices and caused disruptions in sectors like airlines and banking.
Microsoft highlighted the economic and societal implications due to the reliance on CrowdStrike, a cybersecurity firm operating on Microsoft systems.
Microsoft acknowledges the extensive utilization of CrowdStrike by enterprises providing critical services, despite the relatively small proportion.
The CMA promptly engages with stakeholders in the Saudi capital market to ensure immunity from the global IT disruption.
This demonstrates the preparedness and resilience of the Saudi capital markets operating system, ensuring uninterrupted services for all investors on Sunday, July 21, 2024.
Additionally, the CMA mandates listed companies to disclose major developments related to the IT outage, enhancing transparency and investor awareness.
Furthermore, the CMA assures stakeholders that dedicated technical teams diligently monitor the systems, guaranteeing continuous operation, functionality, and technical infrastructure.
This commitment to business continuity and efficient systems underscores the CMA’s dedication to uninterrupted services in the Saudi capital market.
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