The Qatar Stock Exchange (QSE) has found the listed companies’ increasing interest in corporate governance in view of the immense potential to attract more investments, especially from overseas.
Addressing a seminar on corporate governance, QSE chief executive Rashid bin Ali al-Mansoori said good corporate governance would also help the listed firms obtain funds at attractive terms.
The conference is jointly organised by the Qatar Financial Market Authority (QFMA), the QSE and Hawkama Center. QFMA chairman and Qatar Central Bank governor Sheikh Abdulla bin Saoud al-Thani was also present.
He said the QSE has maintained its distinction as one of the best markets in the region where it ranks first as the largest emerging market and second in terms of market value.
“The primary driver of the QSE’s strength is Qatar’s potential opportunities,” al-Mansoori said, adding the country’s strong macro fundamentals have offered ample opportunities for the private sector.
Highlighting that the bourse is a national platform for financing, investment and economic diversification, he said high economic growth and increased investment make the country an ideal destination of choice.
During the function, the Qatar Corporate Governance report book was launched. Qatari publicly traded companies initiated the development of a governance report since 2010 under the provisions of the Governance Code issued by the QFMA in 2009. According to the code, these 44 companies are assigned to submit such report to the QFMA latest by July each year.
“The companies displayed 100% commitment to writing these reports during the last years,” the QSE official said, adding Qatar is considered the only Arab country that obliges its listed companies to develop corporate governance report.
Stressing that the QSE is committed to sustainability, the bourse had earlier said the listed companies can digitally report their sustainability performance from December this year as it is putting in place a sustainability and ESG (environment, social and governance) dashboard.
Companies that have successfully communicated their sustainability strategy stand to gain from improved capital raising and are expected to have competitive edge, al-Mansoori had said.
QFMA chief executive Nasser Ahmed al-Shaibi highlighted the governance code for the companies and legal entities listed on the main market, while Hawkama Center chief executive Mansour Ahmed al-Saadi gave an overview of the centre’s initiatives.
Sheikh Abdulla and Al-Mansoori along with top officials of the QSE-listed firms at the corporate governance conference.
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