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DEI – Saudi Arabia’s stock market opens to foreign investors

Saudi Arabia has opened its stock market to foreign investors, with the new law allowing foreign financial operators to buy and sell shares listed in the country’s stock market. However, the law includes precise limitations on the types of operators eligible to do so and on the size of the operations concerned. The aim here is to avoid speculation and potential destabilising effects on the market. Only banks, brokers, fund managers and insurance companies with at least 5 billion dollars under management (which may be reduced to 3 billion) and with at least 5 years’ activity in the sector can be accredited. Accreditation will be issued following authorisation by one of 88 financial companies appointed by the Capital Market Authority. More economic news, in Italian, from Egypt