Qatar Exchange adds new brokers
Doha, May 24, 2011
Qatar Exchange has announced the addition of new brokers Commercialbank Investment Services and Ahli Brokerage, to the bourse.
The exchange expressed its satisfaction to see Qatari banks enter the exchange as members and start providing financial services activities, including brokerage, with QNB being the first bank to offer brokerage services at Qatar Exchange recently.
“Other banks will start brokerage activities in the next weeks or months in accordance with the licenses given to them by Qatar Financial Markets Authority (QFMA),” said Andre Went, chief executive officer of Qatar Exchange.
“These banks are Commercial Bank represented by Commercialbank Investment Services and Ahli Bank represented by Ahli Brokerage. Additional applications by some other banks are currently being reviewed by the regulator.”
“Allowing banks to perform brokerage activities has many advantages and benefits for the exchange and the investors as well, in respect of attracting foreign investment portfolios and enhancing confidence of international investors in the Qatari market.”
“The step will also contribute in improving the efficiency of the brokerage services provided through fostering competition in terms of providing the best and diversified services to investors,” he said.-TradeArabia News Service