$36 billion in foreign flows to the Saudi Stock Exchange since...

$36 billion in foreign flows to the Saudi Stock Exchange since...
$36 billion in foreign flows to the Saudi Stock Exchange since...

RIYADH: The Chairman of the Saudi Capital Market Authority, Muhammad Al-Quwaiz, said on Thursday that the foreign financial inflows to the local stock exchange amounted to 135 billion riyals ($36 billion) since 2019 so far.
In 2019, the Saudi Stock Exchange joined the MSCI Emerging Markets Index, which increased the competitiveness of the Saudi financial market.
Al-Quwaiz added during a virtual seminar on financial stability in Riyadh, that this figure came despite the fact that the Saudi financial market is still in a modern period with the experience of foreign investors.
He stated that opening the market to foreign investment supports the diversity of existing funding sources for companies listed on the market.
In June 2015, Saudi Arabia allowed international institutional investors to buy local shares directly, with the aim of attracting more foreign capital and reducing its dependence on oil revenues.
The Saudi Stock Exchange, the largest in the region in terms of market capitalization, includes more than 200 companies spread over 20 sectors.
(Anatolia)

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