Tuesday, 18 June 2019 09:07 GMT

Qatar- QSE hints at listing international ETFs

(MENAFN - The Peninsula) By Mohammad Shoeb / The Peninsula

DOHA: Qatar Stock Exchange (QSE) has hinted that the bourse might list in the future the ETFs based on securities whose primary listing is overseas. Sharing basic information to investors on the composition, characteristics and advantage of QSE's upcoming ETFs yesterday, the bourse said: 'A time may come where QSE lists ETFs based on securities whose primary listing is overseas. ETFs bring convenience to the investor, he/she may use existing local architecture (accounts, brokers, order types) to quickly invest in a new and diversified holdings set,, the bourse said in a statement.

Speaking to The Peninsula recently, Rashid bin Ali Al Mansoori, CEO, QSE said the bourse is working with some leading international banks to introduce global Shariah-compliant ETFs on the local bourse. He said QSE will list at least a couple of Exchange Trade Funds (ETFs) within this quarter.

'Our ETFs will be listed within the first quarter of this year. We have two ETFs in the pipeline. One is Al Rayan, which valued about between QR300m and QR400m, and the other one is from Doha Bank with a significant value, Al Mansoori said.

However, he did not provide further details on the proposed Islamic ETF, adding that 'it is still in the early stages.

'It is a very big one which will be listed within this year. The product will provide more opportunities of investments and boost the liquidity in the capital market of the country. He said that things on the listing of global ETF will be clearer during the second quarter of this year.

'These new products and ETFs will provide a diversified option to investors, and attract more foreign capital to our market. And his will also be an additional step on the part of QSE to be a global exchange by listing international ETFs, noted Al Mansoori.

The listing of ETFs are part of the initiatives QSE has been working to introduce to the market as means of broadening the range of products and services it offers.

Al Mansoori also noted that the ETFs are increasingly important part of the investment landscape, covering every conceivable asset type, market sector and trading strategy.

QSE is also working on other products, such as REITs (real estate investment trust), the introduction of new services such as securities lending and borrowing and covered short selling and the launch of the Venture Market to help to serve small and medium-sized enterprises (SMEs).

The Exchange is working in close cooperation with all stakeholders and SME-related entities, including Qatar Development Bank (QDB), Qatar Chamber among others, to encourage SMEs and family-owned companies to get listed on the QSE main index as well as the upcoming junior market (Venture Market) index.

Recently Al Mansoori announced that some five to eight SMEs are expected to be listed on the Qatari bourse this year.

Qatar- QSE hints at listing international ETFs


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