Saudi moots opening bourse to foreign investment

Adulrahman al-Tuwaijri, chairman of Saudi Arabia's Capital Market Authority (CMA) has said the kingdom is considering further steps to open up the Arab world's largest bourse to foreign investment, Reuters has reported. 'We want to study new ways, through which the foreign investor can enter,' he said. In 2008, Saudi allowed so-called swap agreements between non-resident foreign investors and local intermediaries, permitting indirect foreign ownership on the bourse.