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Morocco’s Road to MSCI Emerging‑Market Status: Key Gaps Still to Fill

At the annual conference of the Moroccan Association of Brokerage Firms, MSCI’s Managing Director Jean‑Maurice Laduré explained the strict criteria the index provider uses to upgrade a frontier market to the emerging‑market universe. He highlighted the size‑and‑liquidity thresholds, the need for sustained market accessibility, and the multi‑step validation process that involves institutional investors. While Morocco has made considerable progress since its 2013 frontier classification—its market cap has risen to $23 bn and its weight in the MSCI Frontier Index is now close to 12 %—MSCI still sees gaps in settlement infrastructure, trading cost competition and English‑language disclosures that must be addressed before the kingdom can be re‑classified as an emerging market.

February 9th, 2026
3 min read
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At the annual conference of the Moroccan Association of Brokerage Firms, MSCI’s Managing Director Jean‑Maurice Laduré explained the strict criteria the index provider uses to upgrade a frontier market to the emerging‑market universe. He highlighted the size‑and‑liquidity thresholds, the need for sustained market accessibility, and the multi‑step validation process that involves institutional investors. While Morocco has made considerable progress since its 2013 frontier classification—its market cap has risen to $23 bn and its weight in the MSCI Frontier Index is now close to 12 %—MSCI still sees gaps in settlement infrastructure, trading cost competition and English‑language disclosures that must be addressed before the kingdom can be re‑classified as an emerging market.

At the annual conference of the Moroccan Association of Brokerage Firms, MSCI’s Managing Director Jean‑Maurice Laduré explained the strict criteria the index provider uses to upgrade a frontier market to the emerging‑market universe. He highlighted the size‑and‑liquidity thresholds, the need for sustained market accessibility, and the multi‑step validation process that involves institutional investors. While Morocco has made considerable progress since its 2013 frontier classification—its market cap has risen to $23 bn and its weight in the MSCI Frontier Index is now close to 12 %—MSCI still sees gaps in settlement infrastructure, trading cost competition and English‑language disclosures that must be addressed before the kingdom can be re‑classified as an emerging market.

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