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Saudi votes for formal stock market
- Saudi Arabia: Monday, December 30 - 2002 at 13:23
AFP reports that Saudi Arabia's Shura (Consultative) Council has passed a draft law allowing the establishment of a formal stock market, to replace the existing interbank bourse. The 67-article bill was passed by a majority of the 120-member council and will be referred to the cabinet for endorsement, following the weekly session. The bill envisages increasing transparency, accountability and luring foreign investment and supervises the introduction of new investment tools.
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Peter J. CooperMonday, December 30 - 2002 at 13:23 UAE local time (GMT+4)
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This article was updated on Sat Jan 11 2003.
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