Business | Banking
EFG-Hermes opens new avenue for foreign investors to access Saudi market
EFG-Hermes Securities Brokerage now offers its foreign institutional investors access to Saudi Arabia, the largest market in the Middle East & North Africa (MENA) region, through its recently launched Abwab product.
- Staff Report
- Published: 13:52 September 25, 2008
Dubai: EFG-Hermes Securities Brokerage now offers its foreign institutional investors access to Saudi Arabia, the largest market in the Middle East & North Africa (MENA) region, through its recently launched Abwab product.
In line with the change in regulation from the Capital Market Authority (CMA), the Arab world's leading investment bank has been granted permission to provide non-resident foreign investors with the ability to purchase Saudi Arabian equities through trade swap arrangements.
Matthew Wakeman, Managing Director at EFG-Hermes, said: "Saudi Arabia is the second most liquid emerging market worldwide and the positive steps being made towards its liberalization not only present investors with exciting opportunities, but also provide the Saudi market with increased liquidity and a potential reduction in volatility."
"The Tadawul accounts for over 25 per cent of MENA Market Capitalization and over 40 per cent of all MENA traded value. It has a market capitalization of $390 billion and average daily traded value of $2.5 billion. Abwab allows us to present our clients with the ability to access these vast opportunities."
Share this article
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Louvre, Golden Tulip hotel chains to expand in region
Dubai could host first establishment in 2010
-
Lending slows down in eurozone
Central Bank will this week announce revisions to liquidity-boosting measures
-
Global outcry over Dubai World restructuring is exaggerated
About 75 per cent of the $20b bond has already been subscribed
