Saudi to open stock market index funds to foreigners
Effort will see the Arab world’s biggest bourse open to outside investors by the end of the month.
March 14, 2010 10:14 by kippreport
Saudi Arabia plans to launch stock market index funds accessible to foreigners by the end of March, according to a report in business daily al-Eqtisadiah quoted by Reuters.
“We want to study experiences of many countries, which have allowed foreign investment in an organized way,” Abdulrahman al-Tuwaijri, head of the Capital Markets Authority (CMA), told the newspaper.
Previously foreigners could only invest in the Saudi market through selected funds, but a move to open up the market has long been anticipated.