Riyadh – Mubasher: Saudi Arabia seeks to join the Morgan Stanley Capital International emerging markets index (MSCI EM Index) by 2018, Chairman of the Capital Markets Authority (CMA), Mohammed Al-Jadaan, said on Tuesday.
“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.
Al Jadaan added that the CMA will hold two investment forums in New York and London in the next two months, which aim to “support Tadawul’s efforts and show the capabilities of the market”.
On a different note, the chairman asserted that Tadawul is ready for the potential initial public offering of Saudi Arabian Oil Company (Aramco).
Saudi Arabia plans to sell up to 5% of Aramco in early 2018, as part of the initiative of Deputy Crown Prince, Mohammed bin Salman, to transform the economy.
