Saudi Arabia Sees Growing Foreign Interest as New Market Opens

Saudi Arabia is counting on rules that will extend the settlement cycle on stock trades to attract more foreign investors, Capital Market Authority Vice Chairman Mohammed El-Kuwaiz said.

The Tadawul stock exchange has about 50 qualified foreign investors and expects to draw more after shifting to a T+2 cycle by the end of June, a system used across most major exchanges, El-Kuwaiz said in an interview with Bloomberg News. The current system requires same-day settlement.

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https://www.bloomberg.com/news/articles/2017-02-26/saudi-arabia-sees-growing-foreign-interest-as-new-market-opens