Mansoori expects more QFC-licensed firms to list on QSE.
The listing of Qatar First Bank (QFB) on Qatar Stock Exchange (QSE) represents a significant milestone as it will be the first ever entry of a QFC-licensed firm to the bourse, the exchange's chief executive officer said on Sunday.
Talking to reporters on the sidelines of an event of the exchange, QSE CEO Rashid al Mansoori said QFB's listing will also pave the way for many more QFC-licensed firms to use the local bourse for raising capital. Introduction of single window system has made the whole process of listing on QSE very simple, he said, adding that a company can now be listed within 40 days provided it fulfils all requirements.
He said QSE expects to see some more listings this year. The launch of three exchange-traded funds (ETFs) is also expected this year.
Mansoori said the exchange will carry out aggressive plans to introduce new products and technology to meet the growing demands of both the domestic and increasingly international investor community.
QSE has launched several initiatives to contact privately held and family companies as well as government-owned entities advising them of the advantages of being listed on the exchange."We are also active in supporting investor relations initiatives and events and spend considerable time and resources to provide education to the local investor community," he said. Mansoori expressed the hope that the addition of QFB as the 44th entity on the QSE will provide the much needed liquidity on the bourse.
It will be the first listing of a private sector entity on the QSE in the last six years, he said, adding that the new listing will encourage the participation of the private sector in Qatar's banking sector.
A leading Shari'ah compliant bank based in Qatar, QFB will start trading on QSE from April 27.
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|Publication:||Qatar Tribune (Doha, Qatar)|
|Date:||Apr 25, 2016|
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