Saudi bourse may open to foreign investment

* username: rupertbu

Saudi Arabia is considering further steps to open up the Arab world's largest bourse to foreign investment, the head of the Capital Market Authority (CMA) said in remarks published Saturday.

In 2008, the word's top oil exporter and Organisation of Petroleum Exporting Countries member allowed so-called swap agreements between non-resident foreign investors and local intermediaries, permitting indirect foreign ownership on the bourse.

Previously, foreigners could enter the Saudi stock market only through selected funds.