Wednesday, May 17, 2006

Investment: Saudi to introduce risk-free fund for small investors

Saudi Arabia's King Abdullah, plans to introduce a risk-free fund for ordinary Saudis to trade on the bourse. The fund will allow nationals to invest up to 500,000 riyals ($133,300) over two years, with the state shouldering any losses. The fund is aimed at individual investors, estimated to number at more than 3 million.

Reuters reports that a recent crash impoverished hundreds of thousands of citizens.