Attended by 125 participants representing 55 parties
The Qatar Financial Markets Authority (QFMA) and the International Capital Market Association (ICMA) presented a conference on ‘Developing a Corporate Debt Market’. The conference, held in Doha, hosted 55 parties represented by 125 participants of experts from the capital market with participants from relevant local and regional regulators. They discussed the role that corporate debt capital markets play in economic development. Corporate bonds are a stable and reliable source of funding for companies to finance their business needs and their expansion. They are an essential mechanism for economic growth.
Mr. Nasser Ahmed Al Shaibi, the CEO of the QFMA stated that the QFMA is working hard on promoting and developing the capital market activities and the financial services, and strengthening the surveillance infrastructure based on internationally recognized best practices and standards as well as raising awareness among the persons dealing in this field. Such QFMA’s efforts are due to its aware of the important role that secure and effective financial markets play in accelerating economic development. Mr. Al Shaibi added that this conference comes as a part of initialization towards achieving the QFMA’s Strategic Objectives 2017-2022 in support of the launch of corporate debt capital market.
Mr. Martin Scheck, the CEO of the ICMA said, "We are delighted to work with the QFMA to be partners in a productive relationship to achieve our common goals in developing the domestic financial market based on the long experience gained with our partners in the field of financial markets ".
The conference discussed several topics relating to the key constituents of a successful bond market and the challenges and constraints on creating a successful corporate bond market in Qatar as well as the choice between Conventional versus Sukuk issuance. It also discussed the Innovation in structuring of Sharia compliant Sukuk offerings and the listing and rating requirements under QFMA’s legislations.
About Qatar Financial Markets Authority
Qatar Financial Markets Authority (QFMA) was established under Law No. 33 of 2005 as an independent regulatory authority to supervise the financial markets and firms that are authorized to conduct activities related to securities in or from the State of Qatar, and empowered to exercise regulatory oversight and enforcement over the capital markets.
The QFMA new law No. 8 of 2012 has been issued to give the QFMA wider responsibilities and obligations to supervise and monitor the securities industry in the state of Qatar and increase the scope of international cooperation.
In pursuant of its objectives, the QFMA has been enhancing its regulatory infrastructure, based on internationally recognized best practices and standards for the capital markets to create a world-class capital market in the State of Qatar enabling it to top a leading position in the region through focusing on four strategic pillars that are (1) protect investors, (2) ensure fair and efficient financial markets, (3) enhance transparency, proficiency as well as awareness and markets integrity, and (4) constrict misleading information and deceptive conduct affecting financial products and services.
www.qfma.org.qa
International Capital Market Association (ICMA)
ICMA is the trade association for the international capital market with over 500 member firms from almost 60 countries, including banks, issuers, asset managers, infrastructure providers and law firms. It performs a crucial central role in the market by providing industry-driven standards and recommendations for issuance, trading and settlement in international fixed income and related instruments. ICMA liaises closely with regulatory and governmental authorities, both at the national and supranational level, to ensure that financial regulation promotes the efficiency and cost effectiveness of the capital market www.icmagroup.org
© Press Release 2016
