Saudi Arabia’s Stock Market Should be Open to Foreign Investors in the First Half of this Year

By Evan Abrams

The newly appointed King Salman of Saudi Arabia replaced the head of the Capital Market Authority as part of a cabinet reshuffle. The new head, Riyadh attorney Mohammed Al-Jadaan, has strongly emphasized his commitment to opening the Kingdom’s $500 billion dollar stock market to direct foreign investment in the near future. According to GulfBusiness.com, Mr. Al-Jadaan said the move was “very important” and could have “huge benefits” for the Saudi economy. He also emphasized the need to increase the number of listed companies to keep pace with economic growth.