gulfnews : Saudis hold talks to open stock market to foreigners

Saudi Arabia's Capital Market Authority is in discussions with international banks to open the country's stock exchange to foreign investors early next year, three bankers familiar with the matter said.

The market regulator is working with the banks to prepare for the introduction of foreign investors to the region's largest stock market as early as the first quarter of 2012, said the bankers, who declined to be identified because the discussions are private.

Foreign, non-Arab Gulf investors currently can't directly invest in Saudi shares. The kingdom allowed citizens of neighbouring Gulf countries to buy and sell shares freely in 2007.

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