Flagging investor interest in local markets has led to Union National Bank (UNB) being dropped from MSCI Barra's UAE index, a move that could spell trouble for the Emirates's attempts to be listed as an emerging market.
From this month, the bank will cease to be included on the MSCI indexes used as a benchmark by regional and international asset managers when allocating funds.
'At the time of the November 2010 Semi-Annual Index Review, Union National Bank of Abu Dhabi did not meet the necessary liquidity requirements and consequently was deleted from the MSCI Global Standard Indices,' a spokesman for MSCI said.
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