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Riyadh: despite a booming economy,
the
country must invest in energy and
infrastructure |
The Riyadh branch of Saudi British Bank, located in its
headquarters building, is a hive of activity at 4.30 in the
afternoon even at the height of summer when many Saudis are away on
holiday. The busiest section is the dealing room, where shares are
bought and sold online - there are more players in one branch of
one bank than are often on the trading floor of most Gulf stock
exchanges.
Activity on what is at present an over-the-counter market with
daily trade of between two million and three million shares is
expected to increase when the government introduces new capital
markets legislation. This is likely to be published before the end
of the year and will create a properly regulated, transparent
market.
The prospect of a more dynamic market is not the only reason...
