Saudi Arabia to Open Financial Market to Foreigners, Boosting Investment
Saudi Arabia is set to liberalize its financial market with significant reforms, led by key government bodies including the Ministry of Finance, Capital Market Authority (CMA), and Saudi Arabian Monetary Authority (SAMA). These institutions are working together to modernize regulations in line with the country's Vision 2030 plan.
The reforms aim to boost international investment. Notably, the requirement for overseas investors to qualify as 'foreign institutional investors' will be abolished, allowing direct participation without restrictions. The CMA has launched a public consultation on these reforms, which include scrapping foreign investor restrictions and ending swap agreements. This will give foreigners full access to direct investment in Saudi-listed stocks, aiming to deepen liquidity and attract global capital to the Saudi stock market. A CMA board member has hinted that majority foreign ownership of listed companies could be permitted as early as this year.
These reforms, spearheaded by the CMA and supported by other key financial authorities, are expected to significantly open up Saudi Arabia's financial market to international investors. The changes aim to strengthen market liquidity, broaden market depth, and attract larger inflows of international capital, all in line with the country's Vision 2030 reform plan.
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