VOL. XLI

No. 13

30-March-1998

SAUDI ARABIA

Second Country Fund For Saudi Arabia Mooted

Riyad Bank said on 23 March that it has applied to the Saudi Arabian Monetary Agency(SAMA) to form the second closed-end country fund allowing foreigners to invest in theSaudi Arabian share market. Speaking at a press conference on 23 March, Riyad Bank'svice-chairman, Mr. Rashid al-Rashid, did not elaborate on the size or structure of thefund and would say only that he hoped that approval for it would be...