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Sat 7 May 2016 09:40 AM

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Saudi Arabia says stock market reforms effective by mid-2017

Capital Market Authority reveals launch date for plan to open bourse wider to foreign investment

Saudi Arabia says stock market reforms effective by mid-2017

Saudi Arabia will implement by the middle of 2017 planned reforms to stimulate the stock market and open it wider to foreign investment, the Capital Market Authority (CMA) said on Thursday.

"The amended rules will be published and effective before the end of the first half of 2017," the regulator said in a statement sent to Reuters.

Announcing the reforms on Tuesday, the CMA had said the new rules and a date for them to become effective would be published by the end of the first half of next year.

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