By Mohammed Abu Meleeh
Riyadh-Mubasher: Saudi Arabia seeks to enhance the bond and Sukuk market, said the kingdom's finance minister Ibrahim Al-Assaf.
"We are optimistic about the local bond and Sukuk market in the coming period, as the Capital Market Authority (CMA) focuses to diversify the investment instruments," Al-Assaf told the Euromoney held in Riyadh.
The minister highlighted the kingdom's strong financial position despite falling oil prices, but he called for taking precautionary measures and continuing with the reform and development programs.
CMA's Chairman Mohammed Al-Jadaan said the market regulator is currently working to develop the debt market, expecting to take the relevant procedures in 2015.
"We are looking to improve the role of investment funds, and expect to set new regulations for the investment funds before the end of this year," Al-Jadaan said.
The CMA completed the final rules for direct foreign investment, as it gears up for opening its bourse to foreigners on 15 June.
Translated by Abdul Maguid Aboshahla
