close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Saudi CMA Head: Stock Market Opening To Be Gradual

Saudi CMA Head: Stock Market Opening To Be Gradual

Saudi Arabia's long-awaited opening of its stock market to foreigners will be "gradual", the country's capital market regulator said on Tuesday.

0

April 3, 2012 4:34 by



Saudi Arabia’s long-awaited opening of its stock market to foreigners will be “gradual”, the country’s capital market regulator said on Tuesday.

“It is still within our strategy, but it should be done in an orderly and gradual manner to make sure it does not impact the market’s stability,” Abdulrahman al-Tuwaijri, chairman of the Capital Market Authority(CMA), said at a meeting with executives from listed companies that was attended by reporters.

“This gradual manner will happen, but we need time to make it happen in a safe and orderly manner. We also need to make sure it will not have any negative impact on the market.”

The plan to widen foreign access to Saudi shares via limited direct ownership has helped to boost the stock market in the last several months. Analysts have predicted the market, the largest in the Arab world, could open this year, but the CMA has not given a date and Tuwaijri did not say anything concrete about timing on Tuesday.

Foreigners can already buy Saudi shares through swap deals made by international investment banks, and via a small number of exchange-traded funds (ETFs).

The CMA is considering allowing qualified foreign investors to take a capped share in each Saudi company, with international buyers able to own a total of around 20 percent of the market’s value, according to proposals circulated to the financial industry last year.

“Foreign investors already exist in the market through swap agreements…also ETFs are available for foreign investors,” Tuwaijri noted at the meeting in the offices of the Saudi Chambers of Commerce.

“The percentage of foreign investors is still low at 3-4 percent,” he added.,



0

Tags: , , , ,

Leave a Comment