(MENAFN-Khaleej Times) fortress investments a leading investment firm operating in the middle east expects huge inflows into the uae financial markets specifically the abu dhabi securities exchange and the dubai financial market after the uae?s indices are officially reclassified by new york?s morgan stanley capital international as emerging markets in may 2014
This major upgrade will significantly boost the financial standing of both markets that took major steps that were noticed by international rating agencies according to the firm.
“uae financial markets will join the index in may 2014 thanks to the international benchmarking procedures adopted by the uae and the stringent measures of transparency introduced in the country’s financial sector” said hamed mokhtar managing director at fortress investments. “this upgrade will help boost liquidity and attract more investors to the country as the uae serves as the financial hub of the mena region.”
“we anticipate significant inflows of capital into the uae markets from international investors immediately after the actual upgrade in may 2014. foreign funds which follow the msci index will consider investing their capital in the uae from that period onwards.”
The uae has improved its delivery-versus-payment systems which allow an investor to be paid cash compensation in the event of securities being unavailable for delivery on settlement date. “this upgrade reinforces our trust in the uae’s economy which is based on a solid foundation” he said.
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