Saudi Arabia to Open Stock Market to All Foreign Investors
Saudi Arabia's Capital Market Authority (CMA) has proposed a significant change to its stock market regulations. The draft proposal suggests opening the main stock market today to all non-resident foreign investors, marking a departure from the current Qualified Foreign Investor (QFI) system.
The CMA's proposal, if implemented, will scrap the QFI system and terminate swap agreements. Currently, foreign investors must meet certain eligibility criteria to invest in the Saudi stock market. The new rules, however, will allow direct investment without these previous restrictions.
Details about the proposed changes were announced on Thursday, but no specific timeline for the cancellation of the QFI system and termination of swap agreements was provided in the initial announcement.
The CMA's proposal, if approved, will open up new investment opportunities in the Saudi stock market. It remains to be seen when these changes will take effect and how they will impact both local and international investors.
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