On 1 February 2026, the Saudi Capital Market Authority implemented amendments to the Rules for Foreign Investment in Securities, opening the Kingdom’s capital market to all categories of foreign investors for direct investment in the local stock exchange, the Tadawul. The reforms eliminate the concept of the Qualified Foreign Investor, remove the regulatory framework governing swap agreements, and establish a unified regime for non-resident foreign investment. Our briefing note sets out the key changes and practical steps market participants should consider in light of the changes.
