MSCI announces list of Qatari stocks to enter its Emerging Markets index
MSCI has announced the final list of Qatari stocks that will join the MSCI Emerging Markets Index upon the upgrade of the Qatari market, which will take effect on June 2nd 2014.
In a statement released to the press by the Qatar Exchange, the Qatari companies which will be added to the MSCI Emerging Markets Index are Masraf Al Rayan, Barwa Real Estate, Commercial Bank of Qatar, Doha Bank, Ooredoo, Qatar Electricity & Water, Qatar Industries, Qatar Islamic Bank, Qatar National Bank (QNB), and Vodafone Qatar.
Rashid bin Ali Al Mansoori, CEO of Qatar Stock Exchange, described this announcement as a positive step that would improve the performance of the stock market in the State of Qatar. He added that, “We are proud of the performance of Qatari listed companies as evidenced by the inclusion of 10 Qatari companies in the MSCI EM index. This development would enhance liquidity in the market and contribute to the flow of medium-and long-term foreign investments.”
Al Mansoori also stated that this development will open the door to the flow of investments from global portfolios which he hopes will characterise the Qatari market as a safe and stable investment environment.
The MSCI EM index, which manages assets worth about USD3.3 trillion (QAR12 trillion), will Qatar to its list of emerging economies along with countries such as China, Russia, South Korea, India, Brazil, Malaysia, Turkey and Taiwan.