A Saudi investor monitors the stock exchange at the Saudi Stock Exchange, or Tadawul, on June 15, 2015 in the capital Riyadh. AFP PHOTO / FAYEZ NURELDINE
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Saudi Arabia plans to almost double the size of its stock market, among the most closed in the world, by adding dozens of companies and making it easier for foreigners to invest.The Tadawul All Shares Index will increase to 250 companies from about 170 now and its $380 billion market capitalization will grow to match the size of Saudi gross domestic product within seven years, he said.As well as broadening the stock index, the Capital Markets Authority also plans to foster derivatives trading, the debt market and introduce real estate investment trusts, Jadaan said.Since opening it to direct foreign investment in June, subject to strict rules, 11 overseas investors have received licenses as qualified financial institutions to trade in the market, Jadaan said.
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