IslamicFinance.de

The Capital Markets Authority (CMA) is planning to allow in foreign investors from June 15. Mohammad Al Jadaan, chairman of CMA, expects a lot of benefits from the entry of foreign players into its stock markets. It is expected that the level of studies, research and evaluation done on the market in general and on the listed companies in particular would be higher which would provide more accurate information and more fair assessments, he said. This would also help to raise the level of the research and studies on the Saudi capital market, he added. The CMA is expected to publish the rules for foreign institutions on May 4, while rules will be effective June 1, and the QFIs will be allowed to invest in listed shares starting from June 15.

Bahrain-based Gulf Finance House has appealed a decision by Kuwait's financial regulator to monitor its Kuwait-listed shares after the stock was traded in high volumes ahead of a company disclosure last year. In recent months, Kuwait's Capital Markets Authority (CMA) has been clamping down on what it sees as unusual market activity. Some executives and analysts have welcomed the move but others say the watchdog is being heavy-handed. Kuwait's regulator noticed GFH stock traded in high volumes in May 2013. The regulator notified GFH of its probe into the firm last September and said in April this year that it would monitor the stock for six months.