Saudi CMA to open Main Market to all foreign investors from Feb. 1, abolishes QFI framework

Riyadh, January 7, 2026 (Saudi Arabia Breaking News) – Saudi Arabia’s Capital Market Authority (CMA) said it will open the capital market to all categories of foreign investors and allow them to invest directly from February 1, 2026, after its board approved a regulatory framework enabling non-resident foreign investors to invest directly in the Main Market.

The CMA said the market, across all segments, will be accessible to investors from around the world for direct participation.

The authority said the amendments explained it is expanding and diversifying the investor base permitted to invest in the Main Market, supporting investment inflows and enhancing market liquidity.

The CMA said the amendments abolish the concept of the Qualified Foreign Investor (QFI) in the Main Market, allowing all categories of foreign investors to access the market without qualification requirements.

It also said it removed the regulatory framework governing swap agreements, which had been used to give non-resident foreign investors the economic benefits of listed securities, while enabling direct investment in shares listed on the Main Market.

International investors’ ownership in the capital market exceeded SAR 590 billion by the end of the third quarter of 2025, the CMA said. It added that international investments in the Main Market reached around SAR 519 billion during the same period, compared with SAR 498 billion at the end of 2024, and said the amendments are expected to attract additional international investment.

The CMA said it had taken steps in July 2025 to simplify procedures for opening and operating investment accounts for certain categories of investors, describing that as an interim phase leading up to the decision announced on Wednesday.

The CMA said it published in October 2025 a draft regulatory framework for public consultation on its website and the Public Consultation Platform.