Saudi to open financial markets to all foreign investors

Saudi Arabia plans to open its financial markets to all foreign investors from Feb.l, the Gulf country's market regulator said on Tuesday, as it eases rules to attract more money from abroad.

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The amendments approved by the Capital Markets Authority eliminate the concept of the Qualified Foreign Investor, scrapping a rule that allowed only international investors with direct and consistent access to the Saudi capital market.

The move will allow investors from around the world to invest directly in the capital market, the CMA said in a statement, adding it would support inflows and improve market liquidity.