Thursday 26, October 2017 by Nabilah Annuar

Capital Markets Authority of Saudi Arabia approves foreign investment in Tadawul

New rules allow allowing foreigners to hold up to 10 per cent of Saudi companies.

As a continuation of the CMA’s efforts to regulate and develop the capital market, and increase the attractiveness of the market to foreign investors and proceeding to achieve (Saudi Vision 2030), and based on the Capital Market Law issued by the Royal Decree Number (M/30) Dated 2/6/1424H, the CMA Board has issued its resolution allowing non-resident foreign investors to invest directly in the Parallel Market starting from 14/4/1439H corresponding to 1/1/2018G.

The board resolution included the approval of the guidance note of the non-resident foreigners investment in the parallel market which aims to clarify the mechanism of non-resident foreigners investment in the parallel market and the restrictions related to that.