NBP inclusion in FM index spurs investor confidence

On Wednesday, the Morgan Stanley Capital International (MSCI) upgraded Pakistan’s status by adding a new company from the country to its mainstream global Frontier Market (FM) index, a move that bolstered global investors’ confidence in Pakistan. Global investors, with funds totalling $10 billion, track this index to make investment decisions worldwide, including in Pakistan. With the addition of the National Bank of Pakistan (NBP) to the main index, the total number of Pakistani companies in the FM index now stands at 21. The inclusion of NBP will officially take effect from June 1, 2024. This decision by MSCI to include NBP in the FM index was announced following the conclusion of its semi-annual review of global indexes, conducted in the early hours of Wednesday according to Pakistan Standard Time.