The Saudi Arabian monetary authority (SAMA) has welcomed the entry of Tadawul into the MSCI emerging Market index. This comes in line with the objectives of the financial sector development program; an important step in supporting the kingdom's capital market and financial system.   SAMA pointed out that the introduction of the Saudi stock market to the emerging global market indices will support the investor's ability to diversify sources of finance, increase the attractiveness of investment and promote private sector growth. In addition, this should enhance the presence of institutional investors, which has a positive impact on the performance of companies through increasing transparency and governance and increasing stability and progress of the market. SAMA pointed out that the local financial and monetary stability over the past decades had a significant impact on gaining investor confidence inside and outside the kingdom. It is hoped that joining the MSCI index will boost the confidence on international investors to attract investment in the Saudi stock market.