FTSE Russell, in its 2017 annual review of international stock markets, announced that it had decided to postpone the inclusion of the Saudi market to emerging secondary markets.
"The Saudi market has seen an improvement in the requirements for joining the Emerging Markets Index, but there is still some reservation in terms of the independent conservation model," it said in a statement.
It said the Saudi market would be re-evaluated in March 2018.
On the other hand, Futsi Russell announced the inclusion of the Kuwaiti market in the emerging emerging markets index. Thus, the Kuwaiti market becomes the fourth Arab market to join the indices after the markets of the UAE, Egypt and Qatar.