Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) is currently planning to remove several trading restrictions that will encourage foreign investments in the market, HSBC’s CEO in MENA and North Africa regions Georges Elhedery told Al Arabiya in an interview.
He added that the first two steps entail removing restrictions for custodians and enhancing investment between Saudi and foreign investors.
The third step is to continue easing limits imposed on qualified foreign investors and their holdings of Saudi stocks, Elhedery added in an interview with Al Arabiya.
One of the reasons that may have delayed Tadawul’s addition to the FTSE Russell index for emerging markets (EM) is the new market reforms, the HSBC official noted.
The telecommunication services, banks, and health care sectors are seeing strong performance at present, Elhedery stated, concluding that allowing Saudi women to drive will push the insurance sector up.
