FTSE Russell adds Milaha in Qatar index replacing QIC
March 08 2018 08:55 PM


London Stock Exchange entity FTSE Russell has added Milaha (Qatar Navigation) in Qatar index, replacing Qatar Insurance Company.
The changes to the FTSE Qatar index will become effective on close of trading of March 15, 2018, a FTSE spokesman said after the semi-annual review.
The review comes ahead of the bourse's semi-annual index rejig, which is to take place soon.
The index compiler also shifted Commercial Bank and Qatar Insurance from large cap entities to mid-cap segment.
As per FTSE, Qatar, with high per capita income, comes under investment grade in creditworthiness and has sufficient broad market liquidity to support sizeable global investment and also has "reasonable and competitive" implicit and explicit transaction costs.
Moreover, Qatar's bourse, which follows T+3 settlement system, has sufficient competition in brokerage business to ensure high quality intermediary services.
There has also been sufficient competition to ensure high quality custodian services in QSE, which has "rare" incidence of failed trades, it had said earlier.

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