Saudi Arabia — the largest, most liquid and yet least accessible stock market in the Arab world — is considering opening its stock market to foreign investors in a move that could help turn the local market into a regional trading hub. But when the kingdom will make its final decision on this proposal, which could earn Saudi Arabia the much-coveted MSCI emerging market status, remains uncertain.
“It’s going to take a while,” Jamal al-Kishi, the chief executive at Deutsche Securities Saudi Arabia, said yesterday at a media roundtable in Dubai. “We do things in a certain way in Saudi Arabia. We ponder, we deliberate, we discuss, and we go through a second round of discussions. The intent is there. It’s a question of timing.”
