The Saudi Capital Market Authority has issued draft regulations for the registration of foreign financial institutions wishing to invest on the Saudi stock market. Interested parties have until 20 November to submit comments on the draft. The CMA expects that the Tadawul will be open for qualified foreign investors to invest in listed shares during the first half of 2015.
Three partners from the law firm Lewis Silkin briefed ABA corporate members of current issues relating to employment rights, visas and UK laws on data protection and bribery.
Sukuk issuance fell to $115bn in 2013, compared to $136bn in 2012, according to a report by Zawya, the Dubai-based news and report service, but the fall was entirely attributable to reduced issuance by Malaysia, which accounts for about two thirds of the global total.
Following OPEC's 11 June decision to roll-over its production ceiling of 30mn b/d, the ABA spoke to Bill Farren-Price, CEO of Petroleum Policy Intelligence, about the outlook for oil supply.
Dr. Naaman Azhery, the Chairman of Blom Group, received the ABA's award for Distinguished Service to Banking at the Association's Annual Gala Dinner on 24 October. Over 200 ABA members and guests attended the event, which also included the Rt Hon. Oliver Letwein, Minister for Government Policy, as the keynote speaker.