Saudi Arabia: Foreign residents to invest directly in stock exchange
The foreign residents in Saudi Arabia will be allowed to invest directly in its stock exchange from Saturday, The Capital Markets Authority (CMA) stated. This latest announcement came as Saudi Arabia is making efforts to boost market demand following a two-week drop, news agencies reported.
CMA added the new move would be implemented from Saturday after King Abdullah approves it on Monday. So far, foreign residents in Saudi Arabia could invest in the bourse only via mutual funds.