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Saudi to open bourse to foreigners

Tuesday, July 22 08:50:06

Saudi Arabia's Capital Market Authority plans to open the stock market to direct investment by foreign financial institutions in the first half of 2015, the regulator said on Tuesday.

The CMA said it would publish next month draft regulations for opening the market; there would then be a 90-day consultation period on the draft.

The statement was issued after the Saudi cabinet announced it had authorised the CMA to open the Arab World's biggest stock market at a time the regulator decided was appropriate (Reuters)

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