Abu Dhabi – Mubasher: About 28 companies listed on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) are closed to foreign investors who are not residents of the GCC countries.

The ADX has 18 of these companies with 16.5 billion shares, while the remaining 10 firms were listed on the DFM with 9.3 billion shares, a survey found, according to Al Khaleej newspaper.

The 28 companies are listed in several sectors, on top of which insurance, banks, and services sectors.

Earlier in May, the UAE cabinet changes the foreign shareholding limit in the local companies to 100%.