CMA approves offering of Albilad MSCI US Equity ETF units on Tadawul

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The Capital Market Authority (CMA) said today, Dec. 8, that it has approved Albilad Capital's request to offer Albilad MSCI US Equity ETF units on the Saudi Exchange (Tadawul) as an exchange traded fund.

The terms and conditions (T&Cs) of Albilad MSCI US Equity ETF can be obtained from the fund manager and the CMA websites. They contain all the relevant information that the investor needs to consider before making (or refraining from) an investment decision, CMA said in a statement.

The market regulator highlighted that an investment decision without reading the terms and conditions carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the T&Cs, which include detailed information on Albilad MSCI US Equity ETF strategy, objectives and risk factors; thus, providing potential investors the ability to evaluate the viability of investing in the fund, taking into consideration the associated risks. If the T&Cs prove to be difficult to understand, it is recommended to consult an authorized financial advisor.

The CMA also noted that its approval of Albilad MSCI US Equity ETF should not be considered as a recommendation to invest in it, as it merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.