The MSCI November 2025 index review saw 11 changes involving Saudi-based firms, with all adjustments set to take effect after market close on 24 November 2025, according to MSCI’s Global Standard (pdf) and Global Small Cap Indexes Review (pdf).

The Kingdom recorded no additions to the MSCI Global Standard Indexes, while Nahdi Medical Company, and Luberef were removed from the benchmark. Al Rajhi for Cooperative Ins. moved into the Small Cap Index.

Over at the Small Cap Index: Three companies were added to the MSCI Global Small Cap Index — Al Rajhi for Cooperative Ins., Flynas, and Specialized Medical Center. Meanwhile, five firms exited, including Alandalus Property Company, Mediterranean & Gulf Ins., Saudi Advanced Industries, Saudi Public Transport Company, and Walaa Cooperative.

ICYMI- We sat down last month with Raman Subramanian, MSCI’s global head of index R&D and chair of its Index Policy Committee, to talk about how the GCC went from having no weight in MSCI’s emerging markets index a decade ago to commanding nearly 7% today, and what that means for regional liquidity, institutional participation, and the road to developed market status.

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