His Excellency the Chairman of the Capital Market Authority, expressed his thanks to the Custodian of the Two Holy Mosques and to His Royal Highness the Crown Prince, Deputy Premier and Minister of Defense, and to His Royal Highness the Deputy Crown Prince and Second Deputy Premier, and to the Council of Ministers for allowing the Capital Market Authority to open the Saudi Stock Exchange to Qualified Foreign Financial Institutions, according to the time it sees fit and pursuant to the regulations issued by the CMA.

After the completion of the statutory procedures, the CMA will work on the publication of the draft of The Rules for Qualified Foreign Financial Institutions’ Investment in Listed Shares by next month to enable concerned and interested parties to provide their comments and observations on these rules for a period of 90 days after publication for consultation. CMA will review all comments and observations by the end of this year and it will check the readiness of the Saudi Stock Exchange (Tadawul). In addition, CMA will coordinate with the relevant government parties prior to the adoption of these rules. Based on the above, the market will be open for qualified foreign financial institutions to invest in listed shares during the first half of 2015.