The Capital Market Authority Council in Saudi Arabia announced that the timetable for the implementation of the Cabinet decision to open the field for foreign financial institutions to buy and sell stocks listed in the Saudi Stock Market.
It was allowed until now only for companies registered in Saudi Arabia or in other Gulf Cooperation Council countries to buy and sell in the Saudi market, and it was must for foreigners to pass through investment funds in Saudi Arabia or the Gulf Cooperation Council (GCC).
The Capital Market Authority in Saudi Arabia explained in a statement on the trading site, it is allowed for qualified foreign investors to invest in listed shares as of the date (28/08/1436 H corresponding to 06/15/2015 AD), noting that it will adopt the final version of the rules and will be published on (15/07/1436 H), and that the rules will be in force from the date (14/08/1436 H corresponding to 01/06/2015 AD). "
The Commission said in its statement that "the schedule came after the publication of the regulations draft on its website to solicit the views and observations of interested persons for a period of 90 days," referring to the desire of the body in putting necessary acts to receive the registration of foreign financial institutions requests as qualified foreign investors and handling with them based on the rules, the Saudi bourse consists of 162 company.
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