With Saudi Arabia preparing structural economic reforms under its ‘Vision 2030’ plans, the Saudi regulator Capital Market Authority (CMA) this month announced measures to ease rules for foreign investment on the local bourse. Last June the Saudi Stock Exchange (Tadawul), the largest Arab market, opened its market to qualified foreign investors (QFIs) after relaxing some investment rules (MEES, 19 June 2015).
Given its limited success so far in attracting foreign investors the CMA plans to introduce newly relaxed rules by mid-2017. These include:
• QFIs will need $1bn in assets under management, down from $5bn.
• They will be allowed up to 10% of any listed company, up from 5%.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?