Stock Market Not Ready for Foreign Investors Yet

There have been much speculation over the past few months that Saudi Arabia will soon allow direct foreign investment into its stock market. However, the chief regulator said today that the topic is still under discussion and no timetable has been set for the expected move. Reuters reports:

“We are still discussing the issue. I said this a few months ago and I don’t think anything has changed,” Mohammed bin Abdulmalik Al al-Sheikh, head of the Capital Market Authority, said at a securities industry conference.

“Some government entities are looking into the issue and once there is something we will announce it. So far there is nothing new.”