Stock exchange of Saudi Arabia permitted foreign stakeholders to trade shares, and this happened for the first time, increasing efforts by the world’s uppermost oil exporter to develop a major global capital market.
Remote banks, brokerage houses, fund administrators and insurance companies grounded outside the Gulf can now capitalize directly on the Tadawul All-Shares Index (TASI), if they meet the conditions.
Chief Controller, The Capital Market Authority declared the attempt was aimed at the preparation at the Saudi exchange — the largest in the Arab world — an international player.
“Our goal is to make this market a leading market” and go towards getting “developing” status on global directories. said Abdullah al-Kahtani, CMA spokesman
The market has a capitalization of around $560 billion which is more than all of the Gulf’s other trades merged.
Forecasters approximate overseas investment in the market could ultimately touch $40-$50bn figure, However, the new policies are not about fetching more cash to a state that already have its place in the G20 group of the world’s largest markets.
So the main payment from drawing overseas official shareholders will be better transparency, answerability, and handiness of macroeconomic data, together with reduced market unpredictability.
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Remote banks, brokerage houses, fund administrators and insurance companies grounded outside the Gulf can now capitalize directly on the Tadawul All-Shares Index (TASI), if they meet the conditions.
Chief Controller, The Capital Market Authority declared the attempt was aimed at the preparation at the Saudi exchange — the largest in the Arab world — an international player.
“Our goal is to make this market a leading market” and go towards getting “developing” status on global directories. said Abdullah al-Kahtani, CMA spokesman
The market has a capitalization of around $560 billion which is more than all of the Gulf’s other trades merged.
Forecasters approximate overseas investment in the market could ultimately touch $40-$50bn figure, However, the new policies are not about fetching more cash to a state that already have its place in the G20 group of the world’s largest markets.
So the main payment from drawing overseas official shareholders will be better transparency, answerability, and handiness of macroeconomic data, together with reduced market unpredictability.
Watch PTV Online news related to all topics on PK Clip