Dr. R. Seetharaman stated “the Qatar Index ETF, which is pending regulatory approvals, will track the QE Index. Once approved by QFMA, the ETF product would list on Qatar Stock Exchange and provide investors with exposure to the index benchmark with a single trade. Doha Bank is delighted to have already appointed and signed with The Group Securities who are the leading brokerage firm in Qatar, as the Liquidity Provider (LP) to the ETF. The Group Securities will provide regular bid and ask prices and interact with the fund manager to manage the supply of ETF units on Qatar Stock Exchange. Amwal Asset Management successful track record in Qatar since 1998, will ensure the ETF passively managed strategy is in line with global ETF standards”.
Mr Rashid Bin Ali Al Mansoori, CEO Qatar Stock Exchange, welcomed the regulatory filing and congratulated the partners on being the first to licence QE index for use as an ETF benchmark. He continued ‘The Exchange Traded Fund, once approved by the Regulators, enables investors to trade the index as a single security, it complements the underlying 20 shares and provides an opportunity to look at alternative trading strategies. The growth in ETFs internationally is unbridled and we have an exciting pipeline of ETFs being developed here in Qatar. The partners here today should be commended for taking these important steps towards listing this new segment on Qatar Stock Exchange.
Commenting on this event, Sheikha Hanadi Nasser Bin Khaled Al Thani, Founder and Chairperson of Amwal said in a statement: “ Since its inception, Amwal has established new benchmarks through pioneering initiatives in investment and asset management within Qatar and the wider MENA region. Our well researched and disciplined approach has helped position Amwal as an organisation committed to financial excellence. We are excited to collaborate with Doha Bank and The Group on this new initiative and look forward to further enhancing the regional offering of investment products.”
Mr. Hamad Al-Maadadi, Chairman of The Group also commented in a statement that: “The Group welcomes innovation in capital markets and believes these products will capture the imagination of the investor in Qatar. The products provide easy access for those wishing to take long exposure to Qatar markets but will also attract intraday traders looking for arbitrage. The Group Securities has been appointed for its considerable expertise in the local stock market; having acted as a liquidity provider in the underlying stocks since2008. The Group is well placed to carry out the important role of managing liquidity on exchange for these exciting new products”.