Saudi to Open Up $531 Billion Stock Market to Foreigners
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Saudi Arabia will open up its stock market to international investors in the first half of 2015, giving foreigners greater access to the Arab world’s biggest bourse as the oil-rich kingdom seeks to diversify its economy.
Saudi’s Capital Market Authority will publish next month rules for participation by qualified foreign financial institutions in the stock market, it said in a statement on its website today. The nation’s cabinet yesterday authorized overseas financial institutions to trade equities in the Tadawul All Share Index and gave the Capital Market Authority scope to determine timing, according to the official news agency, SPA.