The Qatar Stock Exchange (QSE) is in the process of introducing a new electronic system to assist listed companies in producing unified disclosure format.
This was announced on Tuesday by QSE chief executive Rashid bin Ali al-Mansoori at the annual meeting on disclosure practices where the listed companies witnessed the prototype of the system that will assist them in consolidating their disclosure through the QSE website.
The new electronic system is expected to be up and running by 2019, it is understood.
He pointed out that the QSE considers environmental and social sustainability and corporate governance (ESG) as one of the fundamentals that support disclosure and transparency in the market.
Last year, the QSE had said the listed companies could digitally report their sustainability performance from December this year through its sustainability and ESG dashboard.
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.
Such measures have great impact on the companies' success in gaining investors' confidence and ensuring healthy, transparent and fair trading environment, he said.
"What matters to investors primarily are transparency, efficient disclosure process and access to information," he said, adding that the consultative meetings with local and international brokers, funds and investment firms have assured the significance of access to executive management and the availability of information on the company’s plans, liquidity and dividends, which are key factors on which investment decisions are based.
He said transparency and adequate disclosure is a key element in the success of any financial market to gain the confidence of both individuals and institutional investors.
The aim of the meeting was to promote co-operation and co-ordination among the communication officers of the listed companies and the representatives of the Qatar Financial Market Authority (QFMA), Qatar Central Securities Depositary (QCSD) and the QSE, according to Nasser al-Abdulghani, QSE's operations director.
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, he said.
The QFMA and QCSD representatives responded to some queries from the communication officers representing the listed companies and listened to their recommendations and suggestions to promote the disclosure practices and strengthen co-operation among the listed companies, the QFMA, the QCSD, and the QSE in the best interest of investors.
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