Saudi Arabia's Capital Market Authority Announces Its Approval For Authorized Persons To Engage In Swap Agreements

In its continuance efforts towards the development of the Capital Market, the CMA is pleased to announce its Board resolution # 2-28-2008 dated 17/8/1429H corresponding to 18/8/2008G that allows Authorized Persons to enter into Swap Agreements with non-resident foreign investors whether institutions or individuals, to transfer the economic benefits of the Saudi Companies’ Shares listed on the Saudi Stock Exchange (Tadawul) while Authorized Persons retain the legal ownership of the shares; in accordance with conditions and requirements stated in the said board resolution.