By: Amr Adel
Dubai – Mubasher: There is an ambitious plan to upgrade the UAE markets’ classification in the MSCI emerging markets index, formerly known as Morgan Stanley, Obaid Al Zaabi, acting CEO of the Securities and Commodities Authority (SCA) on Tuesday said.
The UAE markets’ classification is projected to be upgraded to the developed markets index by 2020, Al Zaabi added on the sideline of the SCA’s briefing in GITEX Technology Week Exhibition in Dubai.
In 2013, Morgan Stanley Capital International (MSCI) announced that the classification of both Abu Dhabi and Dubai markets was upgraded from the frontier markets index to the emerging markets index.
The Morgan Stanley’s emerging markets index measures the performance of the stock market in the emerging international markets, and includes 2,700 stocks in 21 countries such as China, Brazil, and Egypt.
Translated by: Muhammad Abdulwakeel
