CIB, EFG Hermes make it onto Refinitiv; Arab Federation of Exchanges new index

By Amwal Al Ghad English On Oct 13, 2020

The Commercial International Bank (CIB-Egypt) and EFG Hermes are among 30 regional companies included in the new Low Carbon Select Index brought to market by the Arab Federation of Exchanges (AFE) and market data provider Refinitiv, according to a list of constituents on Refinitiv’s website.

Launched on Monday, the index provides investors with access to low-carbon equities across the Middle East and North Africa, according to a joint press release.

Egyptian issuers make up 4.5 percent of the index, while Saudi Arabia leads the weighting with 39.5 percent, followed by Kuwait (22.3 percent), the UAE (16.6 percent), Qatar (13.4 percent) and other MENA markets (3.8 percent).