Riyadh – Mubasher: Morgan Stanley Capital International, MSCI Inc., said that it welcomes the recent positive market reforms undertaken by the Saudi Capital Market Authority (CMA) and the Saudi Stock Exchange (Tadawul).
“These reforms should make a significant contribution toward bringing the Saudi equity market closer to Emerging Market accessibility standards,” the international company added in a press release on Thursday.
MSCI noted that from the important steps taken by CMA and Tadawul is opening the local equity market to international institutional investors, pinpointing that it will continue to monitor these positive developments
In September, CMA chairman, Mohammed Al-Jadaan, said that KSA seeks to join the Morgan Stanley Capital International emerging markets index (MSCI EM Index) by 2018.
“We hope the Saudi Arabian market to be put on the watch list in 2017,” Al Jadaan said in an interview on Bloomberg TV, noting that the inclusion in the index normally takes for quarters.
