The Saudi Capital Market Authority (CMA) has announced a landmark reform allowing all categories of foreign investors to directly invest in Saudi-listed companies starting 1 February 2026. This removes long-standing restrictions, including the Qualified Foreign Investor (QFI) framework, and permits direct share ownership without intermediary structures. The move is expected to deepen liquidity, broaden the investor base, and attract significant international capital to Saudi Arabia’s Main Market, which already hosts major companies such as Aramco, SABIC, and other Public Investment Fund (PIF) entities. With foreign ownership exceeding SAR 590 billion by Q3 2025, these changes position Saudi Arabia as an increasingly attractive destination for global equity investment.
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