The citizens of Gulf Cooperation Council (GCC) countries will be treated as locals in terms of ownership in the listed companies on the Qatar Stock Exchange (QSE).
The Qatar Central Securities Depository (QCSD) has amended the ownership limits on its systems, so that the GCC citizens will be treated as Qatari citizens in terms of owning shares of the companies listed on the QSE. The change will be valid as of today.
The decision comes seven months after HH the Emir issued a law as part of reforms to expand the stock market and develop the financial industry.
Previously, listed Qatari firms imposed ceilings on combined foreign ownership that were usually no more than 25%, though some have already raised their ceilings above that level.
“The new amendment is based on the provisions of Law No (9) of 2014, amending some provisions of Law No 13 of 2000 regulating the investment of non-Qatari capital in the economic activity. The new changes will be carried out pursuant to the provisions of Paragraph No (4) of Article No (2) of the Law, which provides for the treatment of the GCC citizens as Qatari citizens in terms of owning the shares listed on the QSE,” a statement issued by the QCSD said.
The QCSD is a service providing company, licensed by the Qatar Financial Market Authority, engaged in providing safekeeping, clearing, settlement and depository services of securities and other financial instruments listed on the QSE.
The QCSD, which started operations on January 2, 2014, provides its services to individuals and institutional investors.
