Saudi Arabia To Open Its $531B Bourse To Foreign Investors

The Middle East’s biggest economy, Saudi Arabia, unveiled plans to open its $531 billion stock market to foreign investors in the first half of 2015. Next month the Saudi financial regulator will publish rules for participation by qualified financial institutions in the market. The much-awaited reform In a statement released Monday, the government of the oil-rich kingdom said it had granted the Capital Markets Authority the power to give foreigners the right to buy and sell shares “at a time it sees as appropriate.” Though the liberalization move has been talked about for years, it was been delayed amid concerns that foreign ownership of…