Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) is looking to attract around SAR 150 billion ($40 billion) in foreign cash inflows after its inclusion in the MSCI Emerging Markets (EM) Index, the Saudi Capital Market Authority’s (CMA) chairman Mohammed El-Kuwaiz said.

This liquidity is expected to ease procedures of listing large companies which may be listed soon, especially state-run Saudi Aramco, El-Kuwaiz added during a press conference on Thursday.

The inflows expected to be pumped in the Saudi body are equivalent to Tadawul’s potential weight on the MSCI EM index which is expected to be 2.6%, Tadawul’s chairman Sarah Al Suhaimi stated.

On Wednesday, MSCI announced upgrading the Saudi bourse to an EM status in its annual review.