EFG-Hermes offers foreign investors access to Saudi market
EFG-Hermes Securities Brokerage now offers its foreign institutional investors access to the largest market in the Middle East & North Africa (MENA) region, Saudi Arabia, through its recently launched Abwab product.
In line with the change in regulation from the Capital Market Authority (CMA), the Arab world’s leading investment bank has been granted permission to provide non-resident foreign investors with the ability to purchase Saudi Arabian equities through trade swap arrangements.
Matthew Wakeman, Managing Director at EFG-Hermes, said: “Saudi Arabia is the second most liquid emerging market worldwide and the positive steps being made towards its liberalization not only present investors with exciting opportunities, but also provide the Saudi market with increased liquidity and a potential reduction in volatility.
“The Tadawul accounts for over 25 per cent of MENA Market Capitalization and over 40 per cent of all MENA traded value. It has a market capitalization of USD390 billion and average daily traded value of USD2.5 billion. Abwab allows us to present our clients with the ability to access these vast opportunities.”
- Deutsche Bank ready to offer access to Saudi stock market via swap agreements
- MENA Opportunities Fund managed by EFG-Hermes Asset Management raises USD 1$ billion
- Record performance for Saudi Tadawul index in January
- EFG-Hermes granted Saudi license
- Saudi Arabia climbs into top 10 global emerging stock markets