Saudi Arabia Expands Foreign Market Access With Offshore Securities Licence
KUALA LUMPUR, May 26 (Bernama) -- Over the past decade, Saudi Arabia's Capital Market Authority (CMA) has steadily opened its financial markets to global investors, attracting foreign holdings of nearly 423 billion Saudi riyals by the end of 2024. (100 Saudi riyals = RM112.50)
A key milestone in this transformation is the introduction of the Offshore Securities Business Licence, aimed at cementing the Kingdom's role as a regional and global financial hub, according to a statement.
The journey began in 2015 with the Qualified Foreign Investor (QFI) programme, which replaced indirect access through swap arrangements with direct market participation.
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