June 16, 2022
2 mins read

Qatar’s rapid economic diversification highlighted at HSBC

Qatar’s rapid economic diversification and capital markets development was highlighted at an HSBC-hosted conference in London last week, bringing together the Middle East’s biggest stock exchanges…reports Asian Lite News

The increase of foreign ownership in listed companies to 100%, higher levels of market activity, and economic growth and diversification across the wider GCC region was recognized as a strong regional economic catalyst for the State.

The conference, the first pan-regional stock exchange event hosted by HSBC Bank Middle East, connected the exchanges in Qatar, Kuwait, UAE and Saudi Arabia with international investors, Middle East policymakers and stakeholders from across the public and private sectors.

Qatar was represented by Commercial Bank of Qatar, Doha Bank, Gulf Warehousing, Masraf Al Rayyan, Nakilat, Ooredoo, Qatar Insurance Company, Qatar National Bank, Gulf International Services, Msaieed, Industries Qatar, Qatar Aluminum Manufacturing Company and Vodafone listed on the QSE.

“Having world class global banking and markets capabilities in the Middle East is how we helped clients in the region raise more than US$19 billion from investors worldwide in 2021, placing us on top of Bloomberg’s equity and debt rankings in 2021,” said Stephen Moss, Regional Chief Executive for the Middle East, North Africa and Turkey (MENAT).

Topics on the agenda included ESG, equity capital markets, global energy demand, and economic diversification across the region, as well as the economic and social development legacy that hosting the FIFA 2022 World Cup will have on Qatar’s future. The latter was discussed at a special session entitled: “More than a Game – What does hosting the World Cup mean for Qatar?” led by Fatma Al Nuami, representing the Supreme Committee for Delivery & Legacy of the Qatar World Cup Committee.

 “The aim to achieve developed market status in Qatar is part of the country’s ambition to be a world-class international market, and offer a diversified range of investment and trading opportunities for international investors. HSBC was the first bank to establish an investment banking platform and introduce institutional fund services in the country in 2005, and ever since has played an important role in bringing best-in-class practices for international investors to the Qatar market,” said Abdul Hakeem Mostafawi, Chief Executive Officer of HSBC Qatar. 

ALSO READ:India, Qatar Launch Start-Up Bridge

 “Qatar Stock Exchange’s strategic focus is to continue to improve organic liquidity in the market and complement that with infrastructure developments.  We have a big role to play to provide an efficient and reliable platform for sustainable economic diversification in support of the Qatar National Vision 2030,” said Mr. Tamim Al Kuwari, Chief Executive Officer of Qatar Stock Exchange.

HSBC Qatar and Qatar Stock Exchange have a long history of partnership promoting foreign portfolio investment in Qatar, and are recognized as thought leaders in the region. This is especially so in the growing discipline of ESG reforms and sustainability strategies, which have become a mainstream concern for investors and issuers alike.

Previous Story

Jumia organized Jumia’s e-commerce forum

Next Story

Global outrage over China’s Xinjiang abuses

Latest from Arab News

Virgin Atlantic Launches Heathrow–Riyadh Route

With Riyadh rapidly evolving into a dynamic hub for commerce, tourism, and cultural exploration, the new route strengthens the city’s position as a gateway to the Kingdom’s diverse offerings King Khalid International

Modi Strengthens Defence, Energy Ties in Saudi

Both sides agreed to hold the next Strategic Partnership Council meeting at a mutually convenient date….reports Asian Lite News India and Saudi Arabia have expanded their bilateral Strategic Partnership Council by adding

Muslim World League Condemns Terror in Pahalgam

Prime Minister Modi commended the firm stand of the Muslim World League against extremism, terrorism and violence….reports Asian Lite News The Muslim World League has condemned the horrific terror attack in Pahalgam,

Pahalgam attack: Modi Cancels Saudi Plans

Sources said that the Prime Minister also skipped the official dinner hosted by Saudi Arabia and has decided to cut short his visit…reports Asian Lite News Prime Minister Narendra Modi will shorten

Modi Begins Saudi Visit

This will be Prime Minister Modi’s first visit to the historic city of Jeddah where the second meeting of the Strategic Partnership Council (SPC) will also take place…reports Asian Lite News Prime
Go toTop

Don't Miss

WFP becomes strategic partner of ‘1 Billion Meals’ initiative

The initiative’s partners are an integral part of the joint

Sobha Realty announces AED 1mn to 1bn Meals initiative

Sobha, donating the equivalent of 1 million meals, is one