Qatar to treat Gulf investors as locals to boost ailing market

Qatar Central Securities Depository (QCSD) said on Wednesday that nationals of the Gulf Cooperation Council will be treated the same as Qatari nationals in terms of uncapped ownership in listed Qatari companies as of Thursday to boost its losing market, according to the state’s news agency. 

Qatar last year issued a law permitting foreign investors to own up to 49 percent of listed Qatari companies, as part of reforms to diversify the stock market and develop its financial industry, according to data available on Argaam. 
 

Last year, index compiler MSCI upgraded Qatar to emerging market status. However, the market has lost 6.4 per cent this year as oil prices continued to drop. 

Licensed by Qatar’s Financial Market Authority, QCSD is a service-providing firm that provides clearing, safekeeping, and settlement of securities and other financial instruments listed on the Qatari exchange.