Opening up the Saudi stock exchange to foreign non-GCC investors
Type
E-journal
Date
18 Aug 2014
Jurisdiction
Saudi Arabia
Taxonomy
General Banking & Finance Law, Regulation & Offences, Companies & Corporate Bodies
Copyright
LexisNexis
Relevant company
Clyde & Co
Associated digest links
Saudi Arabia: Bourse to be Opened to Foreigners, LNB News 22/07/2014 99
Analysis
Following the recent decision by the Council of Ministers' to open up the Saudi stock exchange (the Tadawul) to certain non-GCC investors, we take a closer look at the current status of the stock exchange and the decision's potential impact.
Many non-GCC foreign investors have been waiting eagerly for more access to the region's biggest and most liquid market and the long-awaited move would finally come to pass. The Saudi Arabian Council of Ministers in its meeting held on 24 of Ramadan 1435H (corresponding to 21 July 2014) passed a decision which paves the way for the Capital Market Authority (the CMA) to open the Tadawul to certain investors, at a time it sees fit and pursuant to the regulations to be issued by the CMA.