Key players in Saudi Arabia’s stock market have embarked on a "global roadshow" abroad to show off the attractiveness of the investment climate in Saudi Arabia, according to reports, with officials meeting potential investors in New York, London, and Singapore.

The kingdom’s Tadawul All Share Index has retreated 4.2 percent since the end of June as value of shares traded for July decreased 25 percent over the previous month, according to reports.

"It's an important step that demonstrates our conviction of the country's potential for sustainable growth and economic well being," Sfakianakis told SUSTG.

Bloomberg's Matthew Martin reports that veteran banker John Sfakianakis has been hired by UK-based Ashmore Group PLC to head expansion into the Kingdom ahead of Saudi Arabia's market opening.

Saudi Arabia's National Commercial Bank is set to issue an IPO in October that might raise as much as $4.3 billion, which would be the second largest of 2014 behind China's Alibaba Group Holding Ltd., Bloomberg's Matthew Martin reports.

Most think the opening of the market will be great for investors and provide extra liquidity and capital into the market, but the Saudi government is proceeding cautiously. Here are 5 things you should know about the announcement and its impact.