Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
Saudi Arabia beat out regional rival Qatar's first bond issuance since the Gulf crisis began with its own "surprise" $11 billion raise, which drew $52 billion of orders this week, according to reports.
Saudi Arabia’s Public Investment Fund is investing in the creation of a new digital bank being established in the kingdom with a capital of 1.65 billion riyals ($440 million), according to a report from Bloomberg.
According to the Saudi Gazette, the CMA has laid out the specific time-frame and requirements for all companies listed on the Tadawul to disclose their adoption of International Financial Reporting Standards. The deadline is January 1, 2017.
"[Fatca] was enacted without regard for its effects on the 8.7 million U.S. citizens living abroad, who have essentially been declared guilty of financial crimes unless they can prove otherwise."
A recently released report from Jadwa Investment shines light on the Saudi Arabia's Financial Sector Development Program (FSDP), which was announced in April of this year.
Citigroup will be "fully operational" in Saudi Arabia in the first quarter of 2018 after an absence of more than a decade, according to reports, as it seeks to capitalize on opportunities in debt and equity capital markets.
For sale stakes in two Saudi banks pose risks and opportunities for buyers as Saudi Arabia pushes forward with massive economic and social reform plans.
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today.
