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Director of KMEFIC says Kuwait upgrade is 'big turning point' as economy gets set for global stage

Wednesday, November 18, 2020 8:25

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Abdullah Al-Busairi, the Director of KMEFIC which has partnered with HANetf for its Kuwait product, explains to Proactive how the inclusion on the MSCI Emerging Market index in November could be transformational for Kuwait’s economy.

Al-Busairi explains that the ‘MSCI upgrade comes on the heels of the S&P 500 and FTSE upgrade’ and believes this latest move, which takes place on November 30th is a ‘big turning point for the local market’ in terms of positioning itself on the international stage.

He is hoping to replicate what this upgrade did for the Saudi Arabia market, UEA and Qatar economy. Boursa Kuwait predict this move could result in US$2.9bn of further investment from passive investment funds.

Story by ProactiveInvestors

Source: https://www.proactiveinvestors.com/companies/news/934286/director-of-kmefic-says-kuwait-upgrade-is--big-turning-point--as-economy-gets-set-for-global-stage-934286.html

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