The Capital Market Authority (CMA) has introduced a draft law expanding the scope of foreign nationals who may invest in shares listed on the Saudi main stock market or All Tadawul Share Index (TASI). Under the draft amendment to the Investment Accounts Instructions, the Rules Governing Foreign Investment, and the Financial Market Institutions Regulations, the authority will allow a foreign national residing in one of the Gulf Cooperation Council countries, and a foreign national who has previously resided in the Kingdom or in one of the GCC countries, to invest in shares listed on the main market. The proposed amendments allow individual foreign investors, who previously resided in Saudi Arabia or one of the GCC countries to continue operating their investment accounts and invest in shares listed in the main market even after their residency has ended and they return to their home country, provided they have previously opened an investment account in Saudi Arabia. The proposal, which was presented by the authority on the Istithlaa platform in preparation for its approval, also aims to facilitate the procedures for opening and operating investment accounts for a number of categories of clients of financial market institutions, while taking into account enhancing […]