Saudi Arabia to Open Markets to Foreign Investors

Open Markets to Foreign Investors

Saudi Arabia: Saudi Arabia will open its capital markets to all foreign investors from February 1, after the Capital Markets Authority approved rule changes removing the Qualified Foreign Investor framework that previously limited access. The move is aimed at attracting overseas inflows and improving market liquidity as the kingdom advances its economic diversification plans. While JP Morgan expects the immediate impact to be limited since most institutional investors already have access, attention remains on a possible easing of the 49% foreign ownership cap on listed firms, which is not expected before the second half of the year or later.

Source: Reuters