By Santhosh V Perumal/Business Reporter
The Qatar Stock Exchange (QSE) has asked the country’s corporate sector to further embrace technology in its social media and website to enhance smooth flow information as part of the concerted efforts to instil investor’s confidence in the financial market.
“What matters to investors primarily is the access to information, and the best way to do that is to invest in modern technology through developing the websites and social media outlets of listed companies in order to achieve their corporate objectives in the long term and enhance confidence in the financial market among the various categories of investors,” QSE chief executive Rashid bin Ali al-Mansoori said.
Addressing a seminar jointly organised by the QSE, the Qatar Financial Market Authority (QFMA) and the Qatar Central Securities Depository (QCSD), al-Mansoori stressed on the importance of disclosure and transparency in the financial market and considered them a vital necessity on which investors build their investment decisions.
Highlighting the support of the bourse to the companies in their efforts to develop the services provided to investors, he asked the corporate sector to take advantage of modern technology of websites and social networks to gain access not only to their existing investors, but also to reach and attract new investors.
The clarion call to instil more investors’ confidence comes in the wake of Qatar being upgraded by both Morgan Stanley Composite Index and Standard & Poor’s-Dow Jones to emerging market from the frontier status.
The companies listed on the QSE have made great strides in the implementation of international standards in terms of disclosure and transparency and the development of dedicated investor relations departments and websites, al-Mansoori said, noting that such measures have great impact on the companies’ success in gaining investors’ confidence and ensuring healthy, transparent and fair trading environment.
“The best way to reach this objective is through exchanging views and listening to suggestions from the participants in order to overcome the difficulties encountered in the application of the best disclosure practices in the market,” according to Nasser Abdul Ghani, QSE market and operations control director.
A representative of the regulatory authority responded to some queries from the communication officers representing the participating listed companies and listened to their recommendations and suggestions to promote the disclosure practices and strengthen co-operation among listed companies, the QFMA, the QCSD, and the QSE for the best interest of investors.
Al-Mansoori addresses the seminar in the presence of other officials from QSE, QFMA and QCSD.
