Saudi Arabia to widen foreign investment access again in 2017 -CMA chairman

Saudi Arabia to widen foreign investment access again in 2017 -CMA chairman:

"Saudi Arabia plans to further open up its stock market to foreign investors later this year as it seeks to become an international capital markets hub, Mohammed Abdullah Elkuwaiz, chairman of the Capital Market Authority (CMA) told Reuters on Friday.

Qualified foreign institutions (QFIs) were allowed to begin investing directly in Saudi stocks in 2015 and qualification requirements were eased late last year.

“We are likely to follow up with a version three (of the QFI programme) and maybe a version four shortly thereafter by continuing to deregulate foreign investor access,” said Elkuwaiz, who became chairman of the body in August."



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