Meezan Bank, AKBL, and BOP join MSCI Frontier Markets Index

November 06, 2025 (MLN): In the MSCI November 2025 Index Review, Meezan Bank Limited (PSX: MEBL), Askari Bank Limited (PSX: AKBL), and Bank of Punjab (PSX: BOP) have been included in the MSCI Frontier Markets Index, marking a significant milestone for Pakistan’s financial sector.

The changes will take effect after the market close on November 24, 2025.

Meezan Bank also ranks among the three largest additions to the Frontier Markets Index by full company market capitalization, alongside Vietnam Airlines JSC (Vietnam) and Bank Al Etihad (Jordan).

In the MSCI Frontier Markets Small Cap Index, 11 Pakistani companies have been added, including AGP Limited, BBF Foods Limited, Gatron Industries Limited, Ghandhara Capital Limited, Ghani Global Holdings Limited, Image Pakistan Limited, International Industries Limited, Javedan Corporation Limited, Sitara Chemical Industries Limited, Synthetic Products Enterprises Limited (SPEL), and Thal Limited (TOMCL).

Meanwhile, Askari Bank Limited (ATBA) and Bank of Punjab (BOP) have been deleted from the Small Cap Index.

The latest reshuffle reflects Pakistan’s growing representation in frontier market equities and is expected to draw increased foreign investor interest toward the country’s banking and industrial sectors.

Across its broader global indexes, MSCI made several adjustments, including 69 additions and 64 deletions in the MSCI ACWI Index, along with various changes in the Small Cap, All Cap, and Investable Market Indexes.

However, due to market accessibility concerns, MSCI confirmed it will not implement any changes for securities classified in Bangladesh in this review cycle.

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