More than half a million GCC citizens circulate stocks of 650 companies with a capital worth $245 billion

Riyadh, Safar 27, 1437, December 09, 2015, SPA — The Secretariat General of the Gulf Cooperation Council (GCC) disclosed that the number of stockholders in GCC stock markets has surpassed half a million, circulating the stocks of 650 GCC companies whose total capital amounts to $245 billion, it was reported here today.
In a report on this issue, the GCC Secretariat General recalled that in December 1988, the GCC leaders took a historic decision allowing GCC nationals to possess securities of stock companies and transfer their ownerships.
Restrictions preventing the full-fledged possession of stocks were gradually removed until, by December 2002, the Supreme Council of the GCC instructed absolute equality among GCC nationals in the field of possessing and circulating stocks or forming new companies in any GCC state. By the end of 2005, all GCC countries have issued decisions offering reciprocal treatment among GCC nationals in this field.
The report, issued by the Information Department at the Secretariat General, said the rate of stock companies allowed to surface on GCC stock markets in each of the Kingdom of Bahrain, Kingdom of Saudi Arabia, State of Qatar and State of Kuwait have reached %100. In the Sultanate of Oman and the United Arab Emirates, they reached %95 and %74 respectively.
The UAE ranked first in terms of the number of stockholders from GCC countries attracted by its companies with 278185 stockholders at a rate of %54, followed by Qatar with 167654 stockholders at a rate of %33, Oman third with 35679 while each of the Kingdom of Bahrain, Kingdom of Saudi Arabia and the State of Kuwait attracted 27618, 5149 and 1488 stockholders respectively.
13:06 LOCAL TIME 10:06 GMT