Saudi Arabia’s market regulator, the Capital Market Authority (CMA), plans to open their secondary market, NOMU to foreign investors starting from January 1, it said on Thursday.
This means that non-resident foreign investors no longer have to meet stringent requirements to qualify as foreign institutional investors, and will be able to invest directly in the Parallel Market the CMA statement said.
The CNA said the new policy is a continuation of its efforts to regulate and develop the capital market, to make it more attractive to foreign investors.
It will also advance the goals of the country’s transformative Vision 2030, it said.For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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