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EFG-Hermes offers foreign investors access to Saudi market

Saudi Arabia: Thursday, September 25 - 2008 at 13:46
PRESS RELEASE

EFG-Hermes Securities Brokerage now offers its foreign institutional investors access to the largest market in the Middle East & North Africa (MENA) region, Saudi Arabia, 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% of MENA Market Capitalization and over 40% of all MENA traded value. It has a market capitalization of $390bn and average daily traded value of $2.5bn. Abwab allows us to present our clients with the ability to access these vast opportunities," Wakeman added.

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Related site: http://www.efg-hermes.com

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About EFG-Hermes:

Established in 1984, EFG-Hermes is the leading investment bank in the Arab world. The firm specializes in Investment Banking, Asset Management, Private Equity, Securities Brokerage and Research. With listings on both the London and Cairo stock exchanges, EFG-Hermes currently boasts a market capitalization in excess of $4.5bn.

Through its offices in Egypt, UAE, KSA and Qatar and with around 700 people from 18 nationalities, EFG-Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe and the United States. Our clients include governments, corporations, financial institutions, high net worth individuals and retail customers.

For more information please contact:

Zeina Abdalla
Hill and Knowlton
Direct Line: +971 4 4055 647
Telephone: +971 4 3344 930
Fax: +971 4 3344 923

Posted by Siba Sami Ammari
Thursday, September 25 - 2008 at 13:46 UAE local time (GMT+4)

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EFG-Hermes offers foreign investors access to Saudi market

EFG-Hermes Securities Brokerage now offers its foreign institutional investors access to the largest market in the Middle East & North Africa (MENA) region, Saudi Arabia, through its recently launched Abwab product.

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