Qatar`s key stakeholders are implementing and updating their platforms to improve the experience of their clients and customers online in line with the acceleration of the digital transformation due to the pandemic.
Since 2017, the Qatar Financial Markets Authority (QFMA) has been embracing technology to simplify processes for investors and other stakeholders in the capital market of the State of Qatar. It offers 23 e-services through various portals and the digital transformation is an important part of the mid- to long-term plan. The most recent additions to the services include the possibility to nominate a person to the board of directors of a listed company, to launch appeals and to apply for a prefunding exemption.
Apart from that the QFMA has launched several other initiatives this year. In February, a new rulebook titled “Offering and Listing of Securities on the Financial Markets Rulebook” (PDF) was revealed and falls under its regulatory and supervisory role over the capital market of the State of Qatar. In March, the QFMA had issued new rules for the purchase of shares in listed companies.
The Qatar Financial Centre (QFC) was established in 2005 with the aim to enhance the growth of the country, to diversify the economy and to provide an attractive platform for enterprises to do business in the State of Qatar. Setting up a business in the QFC has never been easier due to the authorities’ digitisation. The QFC portal is the main mean of communication between the firms and the authority.
To meet the needs of its diverse base of investors, the Qatar Stock Exchange (QSE) has been continually updating the website and offers a comprehensive market data and analytics platform. It is prioritising and supporting the digitisation of environment, social and governance (ESG) data in cooperation with the most important partners.
Last year, the QSE introduced new features including a complete overhaul of the MarketWatch application in partnership with TradingView, a New York based company. The application offers company profiles, live prices, data analytics and order book updates. MarketWatch users can also access 53 different technical indicators, compare symbols and select time intervals or date ranges. For those on the go, real-time news and price alerts are available too.
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