Tuesday 16 March 2010
Saudi to launch index funds for foreigners: report
Saudi Arabia plans to launch stock market index funds accessible to foreigners by the end of March in a bid to open up the Arab world's biggest bourse, the market regulator's chief said in remarks published on Sunday.
SAUDI ARABIA
"We want to study experiences of many countries, which have allowed foreign investment in an organized way," Abdulrahman al-Tuwaijri, head of the Capital Markets Authority (CMA), was quoted as saying in business daily al-Eqtisadiah.
Earlier this month Tuwaijri said in a newspaper interview that Saudi Arabia was considering exchange-traded funds (ETFs) without giving a timeframe.
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