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Report: Saudi's Tadawul joins MSCI emerging markets index

The Saudi stock exchange completed its final phase of joining the MSCI emerging markets index, as the country continues with its efforts to open up the economy to international investors, CNBC reported, citing Khalid Abdullah al-Hussan, the Tadawul's chief.

The Tadawul will reportedly carry a 2.8% weight on the index.

So far this year, Saudi Arabia has observed better foreign equity inflows than India and China, according to the CNBC article, which cited a recent report from the Institute of International Finance.

The kingdom began the process of joining the FTSE Russell Emerging Markets earlier this year, while aiming for an S&P Dow Jones Emerging Markets inclusion by the end of 2019.