Residents of the GCC countries can now invest in the Saudi market, said Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA).
This announced followed the Saudi market regulator’s approval for amendments to investment account regulations that allow current GCC residents, and those who previously resided in Saudi Arabia or other GCC countries, to directly invest in the Saudi main market.
Elkuwaiz said: “As the new amendments are approved, Gulf residents — or those who have previously lived in the Kingdom or the GCC — can continue investing in the Saudi financial market even after returning to their home countries.”
This step enhances the market’s openness to foreign investors, while building long-term investment relationships with a broader range of investors around the world, within a more flexible and attractive regulatory framework, he added.
CMA enables GCC residents to directly invest in TASI
Residents of the GCC countries can now invest in the Saudi market, said Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA).
This announced followed the Saudi market regulator’s approval for amendments to investment account regulations that allow current GCC residents, and those who previously resided in Saudi Arabia or other GCC countries, to directly invest in the Saudi main market.
Elkuwaiz said: “As the new amendments are approved, Gulf residents — or those who have previously lived in the Kingdom or the GCC — can continue investing in the Saudi financial market even after returning to their home countries.”
This step enhances the market’s openness to foreign investors, while building long-term investment relationships with a broader range of investors around the world, within a more flexible and attractive regulatory framework, he added.
