The Egyptian stock exchange has lifted a trading ban on six Saudi businessmen.

The Saudis were among 23 businessmen who had their assets frozen by the Egyptian Attorney General for allegedly manipulating the Egyptian stock market during the sale of the National Bank of Egypt to the National Bank of Kuwait in 2007.

The Saudi investors reportedly informed the Council of Saudi Chambers of the Egyptian stock exchange’s decision after a Cairo court acquitted them.

The six businessmen were identified as Walid bin Sulaiman Abanami, Hasan and Abdulrahaman Al-Sharbatli (brothers), Gharamallah Al-Zahrani, Muiyadh Al-Zahrani and Aidarus Al-Isai.

Investors say the majority of Saudi investments in the Egyptian stock market are run by brokerage firms without interference from investors. Some of them are reputable and well known, with big investments in the Egyptian market, they said.

Meanwhile, the joint Saudi-Egyptian business committee will explore trade and investment issues during their meeting in Riyadh on April 22-24, local media reported.