Draft Rules Issued for Foreign Investment in the Saudi Arabian Stock Market

Following the announcement in July 2014 that the Saudi Arabian stock market would be opened to foreign investment, the Saudi Capital Market Authority has recently released draft rules for qualified foreign investors.

Qualified foreign investors are limited to banks, brokerage or securities firms, or insurance companies that are:

• Licensed or subject to regulatory oversight similar to those applied by the Saudi Capital Market Authority
• Have at least USD 5 billion in assets under management, a…