MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
MENA Asset Management Survey 2012 - National Bank of Abu Dhabi
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Qatar<br />
Focus: Recent developments in Qatar’s financial<br />
services industry have further enhanced Qatar’s<br />
standing as a leading regional financial centre<br />
Yousuf Al Jaida - Director <strong>of</strong> Strategic Development -<br />
<strong>Asset</strong> <strong>Management</strong> QFCA<br />
Recent months have seen a number <strong>of</strong> positive developments in Qatar’s financial<br />
services industry, developments which demonstrate increased local, regional and<br />
international understanding <strong>of</strong> Qatar as an attractive place to do business and which will<br />
further underpin the continued growth <strong>of</strong> Doha as a leading regional financial centre.<br />
A range <strong>of</strong> measures have been undertaken to further deepen and broaden Qatar’s<br />
capital markets. Bonds issued by the State <strong>of</strong> Qatar have helped to form a sovereign<br />
debt yield curve. A Treasury bill programme has been started. The Qatar Exchange has<br />
announced initiatives to increase liquidity and price discovery. Among the initiatives are<br />
the listing <strong>of</strong> T-bills, a proposal to allow stock lending and borrowing, listing <strong>of</strong> ETFs and<br />
REITs, work to introduce market making, adding to the number <strong>of</strong> custodians and<br />
adjusting settlement rules to encourage trading. The Exchange has also launched the<br />
QE Venture Market for small- and medium-size enterprises.<br />
In March this year His Excellency Abdulla Bin Saoud al-Thani, the Governor <strong>of</strong> the<br />
Central <strong>Bank</strong> <strong>of</strong> Qatar, announced that a new regulatory body will be set up to form<br />
an integrated regulator to oversee all financial sector regulation in the country.<br />
More specialist activities are also being looked at. The QFC has recently issued new<br />
regulations creating robust and expanded regimes for special purpose vehicles and<br />
single family <strong>of</strong>fices to operate out <strong>of</strong> the QFC. This is an important development and a<br />
major new opportunity for Qatar’s financial services sector. The intention is to create the<br />
environment in which Qatari businesses can access world class products and services<br />
without needing to look outside Qatar. For instance, it will be possible to form a Special<br />
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