NDF Signs MoU with State Street to Boost Saudi Financial Market
Washington. The National Development Fund (NDF) signed a memorandum of understanding (MoU) at the U.S.-Saudi Investment Forum with State Street Global Advisors (SSGA) and State Street Saudi Arabia Financial Solutions (SSSAFS) Company, valued at up to SAR 750 million.
The agreement covers collaboration on developing innovative investment products in the Saudi stock market to enhance the attractiveness of the national financial market. The deal reflects NDF’s efforts to reinforce Saudi Arabia’s position as a regional financial hub and attract foreign investment.
The MoU focuses on developing exchange-traded investment funds that provide both domestic and international investors access to promising opportunities in the Saudi economy. This helps boost the diversity of investment instruments and deepen the financial market. It also includes training and knowledge exchange programs in asset management and institutional investment to strengthen local capabilities and apply best international practices.
State Street is one of the world’s largest investment firms operating in asset management and advanced financial services. The partnership is expected to expand international cooperation, transfer knowledge, and enhance institutional investment practices in the Kingdom.