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Saudi Arabia could soon allow foreign investors direct access to stock market

Foreign investors could soon have direct market access to Saudi Arabia's stock market, Reuters has reported. Tadawul officials asked representatives from regional banks and brokerages at a December 21 meeting to check capabilities for handling foreign accounts, according to a document seen by the news service. "We might see the markets opening up in the first half of 2011 or probably in the second quarter," a source familiar with discussions said. "It's not a question of if it will happen but when it will happen."