The United Arab Emirates has met all conditions for an upgrade to coveted emerging market status from influential index complier MSCI, a senior official at the Abu Dhabi exchange said on Thursday.
"The checklist that they (MSCI) had. We got ticked in all except DvP. Now that is ticked. We are positive," said Rashed al Baloushi, deputy chief executive.
The index complier will announce in June whether it will upgrade Qatar and UAE from the 'frontier markets' category, a move that could open up the countries' bourses to multibillion dollar liquidity and drive index fund investments.
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