The Saudi Stock Exchange Announces Saudi Arabia Inclusion in the FTSE Watch List for Potential Promotion to Secondary Emerging Market Status

The Saudi Stock Exchange Announces Saudi Arabia Inclusion in the FTSE Watch List for Potential Promotion to Secondary Emerging Market Status

FTSE, the London-based index provider, reported in their 2015 Annual FTSE Country Classification Review that Saudi Arabia would join the Watch List for possible addition to Secondary Emerging market status based on the prospective opening of the market to international institutional investors by means of the Qualified Foreign Investor (QFI) framework. 

To ensure its objectivity, the process is supported by FTSE external advisory committees including the FTSE Country Classification Committee, which draws its membership from experts in trading, custody and investment management, and the FTSE Russell Policy Group, which represents the views of leading global investors.

Following the recommendation of the FTSE Country Classification Advisory Committee and the FTSE Russell Policy Group regarding the current status of Saudi Arabia, the FTSE Russell Governance Board has approved placing Saudi Arabia on the FTSE Watch List for possible promotion to Secondary Emerging market status.

A decision on whether to promote Saudi Arabia will be considered at the Annual Review in September 2016.

The Saudi Stock Exchange, represented by CEO Mr. Adel S. Al-Ghamdi, expressed great pride about the acceleration of developments within the Kingdom, generally, and the Saudi Stock Exchange in particular; t is indeed a positive signal for international investors but equally an encouraging indication for us that the international investment community as well as the leading industry experts observe and understand the significant changes taking place in the Saudi capital markets. We hope that this is simply one of many developments that will come to bear over the next 12 months.

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