| 27 Nov 2007 |
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Qatar: Special rules for investment funds planned
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Doha - Qatar is planning to put in place rules dedicated to corporate governance of investment funds, Minister of Finance and Acting Minister of Economy and Commerce H E Youssef Hussain Kamal, told an Investment Funds Conference here yesterday.
He said the rules would ensure transparency in the running of these funds and would help boost the country's investment environment.
"Investment in Qatar has a prosperous future and the role of various government institutions is to improve this investment environment," he said.
"Thus, government institutions are planning to lay down mechanisms and law governing investment funds and ensure their transparency."
The conference on investment funds is being organised by the Qatari Businessmen Association (QBA) in association with the Ministry of Economy and Commerce, Qatar Central Bank (QCB)Qatar Central Bank (QCB)
, Qatar Financial Markets AuthorityQatar Financial Markets Authority and the Doha Securities Market (DSM).
A number of high-profile panelists representing the funds' industry and asset management from around the world are attending the event.
The two-day conference which opened here yesterday is intended to educate business owners and professionals about the different types of investment funds and the benefits for investors as well as investment opportunities these funds have to offer.
Kamal pointed out that investment funds with their high technical capabilities, systematic and competent financial analysis and their ability to channel investments in promising sectors on sound basis provide small savers an opportunity to participate in the investment practice.
"However, despite the efforts that have been exerted, the activities of investment funds have yet to reach the level of development that our national economy makes possible", said Kamal.
Qatar's economy will continue to grow at the rate of over 10 per cent per year for the next five years and at seven per cent after the year 2012, while the country is planning to carry out investment projects worth over $ 130bn in the next five years.
Kamal said that such excellent performance of the country's economy in general is reflected positively on individual as well as corporate earnings and with the increase in the volume of savings looking for promising investments as a result provide opportunities for investment funds activities.
© The Peninsula 2007
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