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Saudi Arabia to Open Financial Markets to All Foreign Investors Next Mth
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The Saudi Capital Market Authority (CMA) approved the abolition of the "Qualified Foreign Investor" (QFI) concept, planning to open financial markets to all foreign investors starting February 1 by loosening regulations to capture more overseas funds. The CMA stated in a declaration that this move will allow investors from around the world to directly invest in the local capital markets, believing that it will support capital inflow and improve market liquidity. JPMorgan (JPM.US) commented that the stimulus effect of the new measures is expected to be limited, as almost all institutional investors are already permitted to invest locally. Conversely, investors are more focused on the relaxation of the foreign ownership cap, but it is anticipated not to occur before the second half of this year. AASTOCKS Financial News Website: www.aastocks.com |
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