The Qatari financial and capital markets will continue to maintain its competitive edge to attract both national and foreign investors. The Qatar Financial Market Authority (QFMA) is working hard to maintain the Qatari market’s lead position and competitive edge, stated H E Sheikh Abdullah bin Saoud Al Thani (pictured), Governor of Qatar Central Bank (QCB) and Chairman of the Board of Directors of the Qatar Financial Markets Authority (QFMA).
In a message included in QFMA’s Annual Report 2016, Sheikh Abdhullah said the collaboration between the QFMA and various regulatory and supervisory authorities in Qatar, especially regulators of financial services activities, are considered as the cornerstone that made the Qatari capital market maintain its leading international position.
The QFMA has continuously been exerting efforts for more than five years to achieve and transform Qatars National Vision “QNV 2030” into reality. According to the top international classifications issued by international financial institutions in 2016, the Qatari capital market maintained its leading place.This clearly indicates that the QFMA and the regulatory and supervisory authorities in the financial sector are on the right track, Sheikh Abdullah noted.
QFMAs collaboration efforts with other competent entities in the State, especially with Qatar Stock Exchange (QSE) during 2016, led to increase number of listed companies and number of securities listed on the Qatari market, which resulted in upgrading the Qatari market from frontier to emerging market status in FTSE EM Index, to become as “emerging market” in the largest three international investment indicators.
Such efforts also resulted in classifying the Qatari capital market as the best performing Arab market in addition to its twenty first ranking in terms of financial markets development index according to Global Competitiveness Report issued by World Economic Forum (WEF), as well as classifying legislation regulating the securities market issued by the QFMA as the best Arab legislation in this regard with the eleventh rank at international level among countries covered by the report, QFMA Chairman explained.
Inspite of all achievements during the past five years, the QFMA still believes that it needs to exert a lot of effort and many steps to achieve further progress and prosperity for the Qatari capital markets. Qatari market still maintains its 2nd rank at the Arab level and the 13th at the level of European countries, Africa and the Middle East, in terms of market capitalization of listed shares, out of 43 financial markets. The WEF Global Competitiveness Report 2016 -2017 shows that Qatari financial markets in general and the Qatari capital market in particular have a top ranking among all Arab markets in the overall ranking of the main index of financial markets development as well as in the sub-index.
They came in the 2nd rank among Arab countries in the sub-index of trustworthiness and confidence in financial markets clarified . According to the Global Competitiveness Report, which includes 138 financial markets, Qatari financial markets have the top ranking among the Arab markets in terms of financial markets development and it is classified at the 1st rank among Arab countries and the 21st rank at the international level.
The Qatari financial markets could maintain the top ranking among Arab countries in terms of efficiency of financial markets development. The efforts exerted by the regulators of financial sector with regard to developing the Qatari financial markets have been classified at the 1st rank at Arab level and the 4th at the international level (out of 138 financial markets) as for efficiency of the financial markets development, according to Global Competitiveness Report.
The Qatari financial markets achieved the 2nd rank at Arab level and the 18th at the international level in terms of financial services meeting business needs and came at the 1st rank at Arab level and the 9th rank at the international level in terms of affordability of financial services.
The Qatari financial markets came in the 2nd rank at Arab level and the 57th rank at international level (out of 138 financial markets) in terms of the second sub-index of financial markets development with regard to trustworthiness and confidence of financial markets. The regulatory and supervisory authorities of the financial sector are working with the concerned ministries in the State in order to upgrade this classification in the coming years.
