The upgrading of Boursa Kuwait to the status of emerging markets is vital for the country’s economic development, according to the stock exchange’s Chief Executive Officer.
Khaled Al-Khaled, CEO of Boursa Kuwait, said that the first step was the inclusion of national stock exchange in FTSE Russell index and the upcoming inclusion into MSCI index in 2019.
The bourse’s accession into FTSE Russell index signifies the growing investor confidence in the Kuwait market as well as successful implementation of reforms and wide-ranging developments that have enhanced international investors access to the stock market.
The development is expected to drive foreign direct investment, which will boost liquidity support in the domestic capital market and contribute to a more balanced market condition and stability.
In a statement, Boursa Kuwait stated that attracting foreign capital would undoubtedly require an enormous effort from any emerging market.
Health and vital monetary, as well as financial markets, depend majorly on transparency and transport, added Al-Khaled.
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