Pakistan to seek status of MSCI Emerging Market – Alfalah Securities Limited
Karachi, September 03, 2012 (PPI-OT): The top men of Karachi Stock Exchange (KSE) and Securities and Exchange Commission of Pakistan (SECP) are scheduled to the Board of Morgan Stanley Conversion Index (MSCI) Barra on September 03, 2012, in order to convince the board to reinstate KSE in MSCI Emerging Market instead of MSCI Frontier Market.
According to Alfalah Securities Limited, in this regard, Nadeem Naqvi, managing director, Karachi Stock Exchange (KSE) and Muhammad Ali, chairman of the Securities and Exchange Commission of Pakistan (SECP) has left for Geneva to meet MSCI’s board. The main criterion for including any bourse in its emerging markets category is of atleast USD 50 billion market capitalization which is around USD 40 billion in Pakistan. However, in case MSCI considers adding Pakistan to its MSCI Emerging Market, it would be quite positive for the stock market and is expected to attract significant foreign inflows towards this market.