Publisher: Maaal International Media Company
License: 465734
During his participation in a dialogue session within the activities of the third edition of the Saudi Financial Market Forum, Professor Richard Cormack, Co-Head of Capital Markets in Europe, the Middle East and Africa and Co-Head of Investment Banking in the United Kingdom at Goldman Sachs, revealed the bank’s expectations that the weight of the Middle East and North Africa markets will reach to 10% on the MSCI Emerging Markets Index, with Saudi Arabia representing 70% of this percentage, according to a research study published by Goldman Sachs today.
Cormack stressed that these expectations mean the influx of active and passive investments worth approximately $50 billion into the Kingdom, which contributes to strengthening its position as a leading financial power equivalent to the economic bloc in Latin America, which is considered the largest bloc outside Asia.
Cormack also stressed that the Kingdom continues to record strong performance in line with the performance of advanced financial markets, noting that the profitability factor for stocks traded in the Saudi financial market has reached approximately 21 times, which is the same ratio recorded for stocks traded in the American market.