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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.

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March 14, 2010 10:14 by



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.



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