Saudi Arabia approves international central securities depositories instructions
The instructions regulate the linkage application process and its conditions, related Depository Center accounts, and additional general provisions
Saudi Capital Market Authority headquarters is seen in Riyadh, Saudi Arabia June 26, 2019. REUTERS/Nael Shyoukhi - RC1C5289E220 Image used for illustrative purpose
Nael Shyoukhi - RC1C5289E220
By Staff Writer, Arab News
RIYADH: Saudi Capital Market Authority announced on Thursday the approval of International Central Securities Depositories Instructions by the Securities Depository Center Company (Edaa), effective May 6, 2021.
The instructions regulate the linkage application process and its conditions, related Depository Center accounts, and additional general provisions, Edaa said in a filing.
The development is consistent with Saudi Vision 2030, which includes a program to create a regulatory environment in keeping with international best practices and to increase Saudi capital markets’ attractiveness to foreign investors.
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