Qatar has ‘efficient, transparent’ financial sector

Qatar “has made great strides” in building an “efficient and transparent” financial sector, an official of the CFA Institute has said. Speaking at the ‘2017 Doha Investment Forum’ hosted by the CFA Society Doha, Paul Smith, president and CEO of the CFA Institute, said Qatar’s emerging market status “marked a milestone and attracted billions of dollars from around the world.”  “Your goals – such as enhancing investor protection through standards and codes of conduct and building talent through professional developments – are ambitious and aligned with the mission of CFA Institute,” Smith said.

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Smith delivers a presentation during the ‘2017 Doha Investment Forum’ hosted by the CFA Society Doha. PICTURE: Thajudheen

Qatar Stock Exchange (QSE) CEO Rashid bin Ali al-Mansoori and Ibrahim Mohamed Hassan (CFA), acting executive director of Investments at Qatar Development Bank, also delivered topics during the forum. The forum served as a platform to discuss relevant topics like how stock exchanges contribute to a country’s growth and the role of small and medium-sized enterprises (SMEs) in enabling entrepreneurial companies become the driving force of global economies.

In his presentation, al-Mansoori said, “We are very aware that a customised market for SMEs has been a successful model around the world. Our own QE Venture Market has learnt the lessons and is designed with initial and ongoing compliance requirements that lower the normal barriers to SME listing.  “While the rules have been available for some time, it has always been the case that the exchange, along with market professionals in this forum, would have to invest significant time and resources in targeting and preparing a small number of outstanding SMEs who will represent the pioneers of our market when it is launched.”

Hassan delivered a topic on QDB’s mission is to improve economic development by providing entrepreneurs and SMEs with a wide range of financial advisory products. “QDB aims to support a successful transition towards the country’s overall economic diversification. SME Listing Advisory Services, a joint initiative between QSE and QDB to open doors and assist potential SMEs to list their businesses in the Qatar Exchange Venture Market (QEVM), is one such support designed to drive forward SMEs growth and success,” he pointed out.

He added, “A subsidy programme is available to any Qatari shareholding company that meets QEVM’s minimum listing and regulatory requirements, and is committed to list itself on the QEVM.”The forum concluded with the CFA Society Doha Charter Award ceremony where 21 new investment management professionals were awarded their designations as Chartered Financial Analysts. CFA Society Doha, the local chapter of CFA Institute, also recognised its volunteers who contributed to the development of the investment profession in Qatar.

Sources and photo-credits: Gulf Times