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RIYADH: Foreign investors may soon be able to buy Saudi stocks without restrictions, under a draft plan aimed at boosting liquidity and expanding the Kingdom’s $3 trillion equity market. 

The proposal, now out for a 30-day consultation, would allow all categories of non-resident investors to purchase shares directly on the Tadawul Main Market.

It would dismantle the Qualified Foreign Investor framework and scrap swap agreements, long seen as barriers to international participation, according to an official release.

Gulf markets such as Dubai, Abu Dhabi, and Qatar, as well as Kuwait, Bahrain, and Oman, already allow foreign investors to buy shares directly, boosting liquidity, attracting global capital, and modernizing their exchanges. 

Foreign ownership in Saudi equities has already climbed sharply, exceeding SR528 billion ($141 billion) by the second quarter of 2025, Capital Market Authority data shows. If approved, the changes would mark the most significant market opening since direct foreign access was first introduced in 2015. 

“The draft aims to broaden and diversify the base of investors eligible to participate in the Main Market, while also attracting additional investments and increasing market liquidity,” the CMA said. 

The consultation runs until Oct. 31, with final rules to follow after feedback is reviewed. 

Once approved, foreign investors would be able to purchase shares in listed companies on the main market directly, without going through these extra layers. Non-resident investors would be able to open accounts and invest directly in listed securities. 

����ֱ��’s move fits into a broader program of capital-market modernization aimed at boosting liquidity and global participation. 

In July, the CMA eased rules for foreign investors to open accounts, while amendments to investment fund regulations aligned the market more closely with global standards. 

The latest draft follows a late-September policy signal that fueled a rally in Saudi equities and comes as officials weigh lifting the long-standing 49 percent cap on foreign ownership. 

The CMA pointed to strong growth in overseas participation as a foundation for the change. 

The regulator framed the draft as part of a phased approach to position Riyadh as an international marketplace capable of attracting larger, more diverse flows of foreign capital. 

The initiative, it said, is intended to strengthen confidence among market participants and support the broader local economy. 

Stakeholders can submit comments through the Unified Electronic Platform for Consulting the Public and Government Entities or via a prescribed email form. The CMA said it will review all relevant submissions before finalizing the amendments. 

RIYADH: ����ֱ��’s Tadawul All Share Index dipped on Thursday, losing 33.64 points, or 0.29 percent, to close at 11,495.72. 

The total trading turnover of the benchmark index was SR6.49 billion ($1.72 billion), as 96 of the listed stocks advanced, while only 148 retreated. 

The MSCI Tadawul Index also decreased, down 6.68 points, or 0.44 percent, to close at 1,499.76. 

The Kingdom’s parallel market Nomu lost 283.31 points, or 1.11 percent, to close at 25,306.09. This comes as 37 of the listed stocks advanced, while 56 retreated. 

The best-performing stock was Sport Clubs Co., with its share price surging by 5.24 percent to SR10.64. 

Other top performers included Almoosa Health Co., which saw its share price rise by 4.37 percent to SR179, and Sustained Infrastructure Holding Co., which saw a 4.30 percent increase to SR34.48. 

Al Moammar Information Systems Co. jumped 4.21 percent to SR143.60, while Rabigh Refining and Petrochemical Co. gained 4.13 percent to SR7.81. 

On the downside, Bupa Arabia for Cooperative Insurance Co. recorded the steepest drop of the day, falling 4.36 percent to SR158.10. 

Al Gassim Investment Holding Co. fell 3.24 percent to SR18.23, while Walaa Cooperative Insurance Co. slipped 2.68 percent to SR11.97. 

Nahdi Medical Co. fell 2.65 percent to SR121, while Dar Alarkan Real Estate Development Co. slipped 2.52 percent to SR19.35. 

On the announcements front, the Saudi Telecom Co., known as stc, said that its subsidiary, the Public Telecommunications Co. — Specialized, has secured a SR5.5 billion Islamic Murabaha facility. 

According to a Tadawul statement, the 12-year financing agreement, effective from Oct. 1, includes a SR3.5 billion participation from the Saudi National Bank and SR2 billion from the Arab National Bank. 

Secured by a corporate guarantee from stc, the funds will be used to finance the capital and operating expenditures for building, operating, and providing telecommunications infrastructure services. 

Shares of stc rose 1.45 percent in the session on the main market, closing at SR44.64.