Tadawul

Tadawul is the common name for the Saudi Exchange, the primary regulated securities market in Saudi Arabia. It is owned by Saudi Tadawul Group and sits at the centre of the Kingdom's public-market infrastructure, covering equities, sukuk, bonds, funds, and derivatives. As of the Saudi Exchange's 2025 annual statistics, the market closed 2025 with a market capitalisation of SAR 8.82 trillion across 267 listed companies. The exchange is overseen by the Saudi Capital Market Authority (CMA), the Kingdom's securities regulator.\n\nThe main benchmark index is the Tadawul All Share Index (TASI), which measures the performance of all publicly traded companies on the exchange. Investors tracking Saudi equity exposure will typically reference TASI as the broad market indicator.\n\nFrom 1 February 2026, Saudi Arabia will fully open Tadawul to all categories of foreign investors, including non-residents, allowing direct trading in Saudi-listed shares for the first time. This reform removes long-standing restrictions that required most foreign investors to use limited-access structures. The move is part of Vision 2030, the Kingdom's programme to modernise its economy and deepen its capital markets.

For English-speaking expats based in the GCC, the February 2026 opening of Tadawul is a material change. Previously, direct access to Saudi-listed equities was restricted for most non-resident foreign investors. From that date, residents and non-residents alike will be able to trade Saudi shares directly, without routing through indirect structures. Expats considering Saudi equity exposure should verify the account-opening requirements with a CMA-regulated or DFSA-regulated broker before that date, as onboarding timelines and documentation requirements vary.\n\nFrom a portfolio-construction standpoint, Tadawul-listed equities are available through some UCITS ETFs that track GCC or emerging-market indices. Expats who already hold such funds may have indirect Saudi exposure. Those considering a direct position should account for currency risk (Saudi riyal is pegged to the US dollar), settlement conventions, and any broker fees specific to the Saudi market - compare these in basis points against the all-in cost of a UCITS fund before deciding on the access route.