In a move which will help to attract additional foreign investment to the Qatar Stock Exchange, MSCI 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 June 2nd 2014.
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.
Mr. 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.”
Mr. Al-Mansoori stated that this development will open the door to the flow of investments of global portfolios to invest in the shares of Qatari companies that will benefit directly from these investments which will reflect positively on the various economic sectors in the country, especially in view of the fact that these foreign investment portfolios seek to invest in the Qatari market, which is characterized for being safe and stable investment environment.
The MSCI EM index, which manages assets worth about $3.3 trillion, includes the markets of emerging economies such as China, Russia, South Korea, India, Brazil, Malaysia, Turkey and Taiwan.