Saudi Arabia aims to gradually open up Tadawul to investors, says Al Hussan

02/05/2018 Argaam

 

Saudi Arabia aims to gradually open up the Saudi Stock Exchange (Tadawul) to investors, so as to build a solid base, Khalid Al Hussan, the bourse's chief executive, said on Wednesday during the Euromoney Conference 2018 in Riyadh.

 

Reducing risks and enhancing market efficiency are part of the Kingdom’s current reforms.

 

The Saudi Stock Exchange (Tadawul) has fulfilled ten out of 20 requirements necessary for market classification.

 

“It’s very important to fulfill all requirements, to classify Tadawul as a primary or secondary market,” Al Hussan said, adding that the market is ready for Saudi Aramco’s listing.

 

Meanwhile, Mohammed El-Kuwaiz, Chairman of the Capital Market Authority (CMA), said the Saudi market regulator is facilitating registration of foreign investors.

 

Several steps have been recently taken to boost investor confidence in the Saudi equity market, he added.

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