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Saudi to set up 'risk free' stock fund

Saudi Arabia will set up a risk-free fund for low income Saudi's who want to trade on the stock market, it has been announced.

  • Agencies
  • Published: 00:00 May 16, 2006
  • Gulf News

Riyadh: Saudi Arabia will set up a risk-free fund for low income Saudi's who want to trade on the stock market, it has been announced.

King Abdullah said the fund would be limited to a maximum invetement of 500,000 riyals ($133,300).

He was quoted as saying: "This fund ... will be set by the state for people with limited income and those who wish to invest more than 500,000 (riyals) will not be allowed."

According to King Abdullah, small investors "will be able to buy and sell for two years, if they win then this is their luck with God's will and if they lose then their capital is preserved with us."

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