RIYADH, July 22 Saudi Arabia's Capital Market
Authority plans to open the stock market to direct investment by
foreign financial institutions in the first half of 2015, the
regulator said on Tuesday.
The CMA said it would publish next month draft regulations
for opening the market; there would then be a 90-day
consultation period on the draft.
The statement was issued after the Saudi cabinet announced
it had authorised the CMA to open the Arab World's biggest stock
market at a time which the regulator decided was appropriate.
(Reporting by Angus McDowall; Writing by Andrew Torchia;
Editing by David French)