Saudi Arabia opening its bourse (Tadawul) to foreign investment will likely deepen equity markets, said Masood Ahmed, the IMF’s director of the Middle East and Central Asia Department.

Speaking during the IMF’s Regional Economic Outlook in Dubai on Monday, the top official added that most of the Tadawul’s equities are held by retail investors and government institutions.

Thus, the market opening up to foreign investors will likely make investments more attractive, Ahmed noted.