DUBAI: Saudi Arabia will ease requirements for foreign institutional investors in its stock market from Jan 23, the securities regulator said on Tuesday, as the kingdom seeks more foreign capital to help diversify the economy beyond oil exports.
Among the reforms, the minimum value of assets under management needed for an institution to qualify as an investor will fall to $500m from $1bn.
The qualification process will be simplified and institutions will be able to qualify affiliates and their managed funds without submitting a separate application for each of them.
The measures were originally revealed in November. Tuesday’s announcement by the Capital Market Authority finalised and set a date for them.
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