ECONOMY

Saudi Stock Exchange is now on MSCI Emerging Market Index Watch List

Investors monitor screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh. (File photo: Reuters)

The Saudi Stock Exchange (Tadawul) has announced on Tuesday that it has been named by index compiler MSCI to be on the organization’s Emerging Market Index Watch List.

“Saudi Arabia’s addition to the MSCI Watch List is an important milestone for Tadawul, and reflects the Kingdom’s significant progress in capital market reform in support of Vision 2030,” Market Watch quoted Sarah Al-Suhaimi, Chairperson of Tadawul, as saying.

She added: “Potential inclusion in MSCI’s Emerging Market Index signals to international investors that the country’s capital market has attained greater maturity in terms of efficiency, governance and regulatory framework.”

Mohammed El-Kuwaiz, vice chairman of the Capital Market Authority, was quoted as saying by the Asharq al-Awsat newspaper that he expected Riyadh to be upgraded by the end of 2018 - faster than the mid-2019 date which MSCI’s past practice would suggest.


(With Reuters)

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Last Update: Wednesday, 21 June 2017 KSA 04:54 - GMT 01:54
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