Direct Answer
The MSCI Arabian Markets Index is a rule-based measurement of equities across Arabian market countries in the MSCI universe, maintained by MSCI. Like every index it owns nothing: it is a number produced by applying a published weighting formula to a selected list of companies, revised on a schedule the provider sets.
What this index covers
The MSCI Arabian Markets Index covers equities across Arabian market countries in the MSCI universe, within the Middle East market. MSCI defines which securities are eligible, how they are selected from that pool, and how much each one contributes to the published number.
The index name does not state a fixed company count, so the number of constituents follows the eligibility rules rather than a target.
How constituents are weighted
Constituents are weighted by free float-adjusted market capitalization, scaled by the Foreign Inclusion Factor. The index is a composite of ten country indexes that sit in three different MSCI classification groups, and each country is maintained under the rules of its own group, so the weights reflect markets screened at different liquidity bars.
The weighting method is the single biggest driver of how an index behaves. Two indexes covering the same market can diverge for years purely because they weight differently, which is why comparing index levels without knowing the method tells you very little.
What qualifies for inclusion
Each country is screened with the liquidity bar of its own group under the MSCI GIMI rules: Egypt, Kuwait, Qatar and the UAE are Emerging Markets; Bahrain, Jordan, Morocco, Oman and Tunisia are Frontier Markets; Lebanon is a Standalone Market.
Eligibility rules are the part of an index most readers never look at and the part that decides what it can possibly measure. A screen that excludes a whole sector, or admits only one listing venue, shapes the result far more than any day of trading does.
How long a listing must exist first
A new issue needs three months of trading before a review. Existing constituents stay on lower bars than new ones: in the emerging countries 12-month ATVR above 10% and 3-month frequency of trading of at least 70%, and in the frontier countries 12-month ATVR above two thirds of the entry level for low and average liquidity markets or above 1% for very low liquidity markets, with 12-month frequency of trading of at least 10%.
A seasoning rule is why a large new listing does not appear in an index the week it starts trading. It is a deliberate lag, and it means an index can under-represent a fast-growing part of the market for months at a time.
When the membership is revised
Quarterly reviews in February, May, August and November apply to the whole index, and each frontier and standalone country's liquidity category is reassessed at every review. Moves between Emerging, Frontier and Standalone status come out of MSCI's annual market classification review and normally take effect at an index review, as Kuwait's move from Frontier to Emerging did at the November 2020 review.
Reconstitution is the one date an index changes shape by design rather than by price. Funds tracking it have to trade toward the new membership, which is why the schedule matters to anyone holding the tracker rather than only to the provider.
The rule that surprises people
Lebanon is a Standalone Market, yet it is rebalanced with the frontier liquidity thresholds and sits in the very low liquidity group, which needs only 2.5% 12-month ATVR.
References
- MSCI: MSCI GIMI Methodology: Index Construction Objectives, Guiding Principles and Methodology for the MSCI Global Investable Market Indexes, as published 2026. Every rule described on this page is taken from this document.
Current MSCI Arabian Markets Index constituents
MSCI publishes and licenses the MSCI Arabian Markets Index constituent list. Swoopr does not republish it here. The provider's own page is the authoritative source for current membership and weights.
Related reading
- All stock market indexes: how indexes are built, weighted and revised.
- Emerging Markets indexes: others covering the same region.
- Index concentration: measuring how much of an index sits in its largest holdings.
- Index rebalancing and inclusion effects: what happens to a stock when index membership changes.
Frequently Asked Questions
Who maintains the MSCI Arabian Markets Index?
MSCI maintains the MSCI Arabian Markets Index and publishes the methodology document that defines its eligibility and weighting rules.
What does the MSCI Arabian Markets Index measure?
It measures equities across Arabian market countries in the MSCI universe. The index is a calculated number applying a weighting formula to a selected list of companies, and it holds nothing itself.
Where can I see the current MSCI Arabian Markets Index constituents?
MSCI publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence.