Qatar Financial Center Authority Chief Executive Officer Yousef Mohammed Al Jaidah
DOHA: Yousef Mohammed Al Jaidah (pictured), Chief Executive Officer of the Qatar Financial Center Authority (QFC), expects ETFs to expand further in future, with more companies licensed by the Center to participate in trading on the Qatar Exchange.
QFC, one of the world’s leading and fastest growing business and financial centers, has announced that Amwal LLC, a QFC listed firm, has succeeded in the listing and management of the largest exchange-traded fund (ETF) in the GCC region.
Being traded under the symbol QETF on the Qatar Stock Exchange (QSE), it is the first of its kind in Qatar that will measure price performance of the top 20 largest and most liquid companies on the Qatari bourse.
Established by Doha Bank and managed by Amwal, QETF has already surpassed the size of any other ETF in the GCC with an initial open-ended capital of QR150m.
Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority, said: “I am happy to take the opportunity today to update you on the QFC’s five-year roadmap which we launched a year ago this month. One of the key points in our strategy was to increase growth in assets for QFC firms and we are doing just that.
“Back in 2016 we announced that Qatar First Bank, a QFC firm, was the first Qatari entity to be listed on the Qatar Stock Exchange (QSE). I am very proud to add that Amwal LLC, also a QFC firm, has succeeded in the listing and the management of not just Qatar’s first ETF, but also the largest in the GCC region.”
He continued: “It is testament that the QFC not only continues to attract the best in class businesses to its platform, but is also paving the way for our firms to raise capital.”
He concluded: “As Qatar’s growth continues, we are expecting the ETF market to further expand, with added opportunity for more of our firms to take part in trading.”
