Deutsche Bank to offer Saudi Arabia stock market access

by Richard Kilner

Story link: Deutsche Bank to offer Saudi Arabia stock market access

Deutsche Bank’s international clientele is to be given access to the stock exchange of Saudi Arabia, it has been announced.

The Saudi stock exchange is the largest equity market in the region, and recently its Capital Market Authority made a fundamental shift when it chose to allow non-resident foreign investors to swap agreements with authorised entities.

Under the new rules the entities themselves will retain ownership of the shares.

The new ground opened up by the Capital Market Authority means that foreign investors are no longer limited to accessing the Kingdom’s stock market only through mutual funds.

Deutsche Bank’s Middle East and North Africa CEO, Henry Azzam, has expressed his delight at the historic decision, which he believes will bolster the strength and depth of the stock market in Saudi Arabia.

Foreign capital inflow should increase, Azzam continued, as well as stability and transparency being strengthened.