Saudi Arabia: Local debt market prospects
Issue 977
- 19 Sep 2014
| 2 minute read
Riyadh plans to follow up the opening of the Tadawul stock market to foreign investors, who could buy up to 10% of the available paper, by allowing external investment in the local debt market. The Capital Market Authority (CMA) is working on new rules to promote the local currency bond and sukuk market, which are expected to allow foreign investors to buy bonds for the first time. The CMA is examining a number of measures, including requiring ratings agencies that rate domestic securities to have a local presence, but its rule changes are not expected to be published until 2015.
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