The Middle East is keeping up with the times, and a number of exchange traded funds (ETFs) are likely to launch this year, according to an official at Morgan Stanley.

As of now, there are no ETFs listed in the region, but when they are Oman and Saudi Arabia will be likely candidates. The Cairo Stock Exchange is "far along the way to listing", reports Lucia Dore for Khaleej Times.

ETFs are viewed as an appealing product for investors in the region. Most exchanges in the area would like to list ETFs, but with so much happening in the region, listing ETFs had not been a priority. But investors have discovered the appeal of ETFs, as they have been trading ETFs on other exchanges.

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