More than 300 top financial and corporate officials from around 50 countries took part in the World Exchange Congress in Doha recently.

 

The strategy and the role of regulatory authorities in the financial markets sector in Qatar was highlighted by Sheikh Fahad bin Faisal Al Thani, deputy governor of the Qatar Central Bank and vice chairman of the Qatar Financial Markets Authority (QFMA).

 

The strategy aims at creating a vigorous and effective financial regulatory framework that would support economic prosperity and financial stability in Qatar and establish an infrastructure for the financial services industry in line with the best international standards and practices, he said.

 

"Despite the fact that the launch of such a strategy was in December 2013, the Qatar Central Bank has begun to take actual steps since 2011 in line with the Qatar's National Development Strategy 2011-2016," said Sheikh Fahad.

 

He pointed out that a law had been issued to give the authority wider responsibilities and obligations to supervise and monitor the securities industry in the state of Qatar through focusing on four strategic pillars that are - protect investors, ensure fair and efficient financial markets, enhance transparency, proficiency as well as awareness and markets integrity, and constrict misleading information and deceptive conduct affecting financial products and service.

 

The obtaining of the Iosco full membership by the QFMA, the upgrade of the Qatari market into emerging market status, and the obtaining of the WFE full membership by Qatar Stock Exchange indicate the recognition of the achievements and structure of the Qatari financial and securities markets in relation with regulatory framework, integrity and surveillance, he said.

 

The forum also featured various lectures and discussion panels on topics such as the European market structure, shaping the capital market of Romania, ‘Arab capital markets, regulatory framework: Recent achievements and failure challenges.’ 

 

Rashid bin Ali Al Mansoori, CEO of Qatar Exchange, highlighted the achievements of Qatar's stock market over the past few years as part of its quest to transform the Qatari securities market into a world-class exchange working in line with the world's best practices and enjoying advanced systems, laws and regulations to promote transparency and provide investors with proper and diversified investment tools.  

 

"Over the past few years, Qatar Stock Exchange has achieved significant growth since its inception.  It is now a well-established national institution that offers various investment opportunities for local and international investors. It has become the link between listed companies and individual investors who realize that the stock market represents a saving and investment destination at the same time".

 

The forum also features interactive roundtables, debates and workshops on various subjects including the diversification of exchange revenue sources; globalisation and future challenges facing financial markets; new trading technology for exchanges; the added value of MSCI upgrade; liquidity issues; and the role of exchanges in facing macroeconomic in the Mena region. - TradeArabia News Service