MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Benchmarks
In May 2010, FTSE announced UAE would be upgraded to secondary
emerging status within its global equity index series effective from September
2010.
Saudi Arabia
In December 2012, MSCI noted that the introduction of a new scheme allowing
direct access for non GCC based investors to the Saudi equity market could
result in MSCI considering the inclusion of Saudi Arabia in Frontier Markets or
Emerging Markets, depending on the level of market accessibility.
In April 2012, MSCI announced it would reintroduce coverage of the Saudi
Arabian equity market with the release of standalone country indices in June
2012 after reaching agreement with the Saudi Stock exchange for the
provision of market data. MSCI also announced it would reintroduce MSCI
GCC Countries Index and the MSCI Arabian Markets Index at the same time.
In May 2011, the president of the Saudi Capital Market Authority (CMA) stated
that Saudi Arabia's stock exchange was in talks with several index providers,
including MSCI, for inclusion in their indices. No specific time-frame or details
on the talks were offered in the statement.
In July 2010, MSCI announced that it would discontinue the calculation of all
MSCI Indices containing securities listed on Tadawul, the Saudi Stock
Exchange from September 29, 2010. MSCI announced that despite good faith
efforts by both parties, MSCI and Tadawul had been unable to agree on the
terms under which the Tadawul would continue to make data available to
MSCI for the creation of indices. As a result, Tadawul data would no longer be
available to MSCI.
169