Al Shaibi: QFMA Legislations Led to Qatar Capital Market Status Upgrade

Doha, June 12 (QNA) - Morgan Stanley Capital International's (MSCI) decision to upgrade the Qatari capital market in the MSCI index from Frontier to Emerging Market status has come after MSCI's assessment and review of the legislations related to securities market in Qatar and communicating with the concerned parties (Qatar Financial Markets Authority and Qatar Exchange) regarding the legislations, Qatar Financial Markets Authority (QFMA) CEO Nasser Ahmad Al Shaibi said. He added in a press release issued here on Wednesday that QFMA, in cooperation with Qatar Exchange, issued several legislations and operational procedures such as Delivery-Versus-Payment (DVP) mechanism, Liquidity Provider Activity and Securities Lending and Borrowing Activity to support the inclusion of Qatari capital market in the MSCI emerging market index using the best international practices and standards. Al Shaibi added that Qatar Financial Markets Authority in corporation with the Qatar Exchange and the concerned parties will continue to develop the legislations to conform with the capital markets developments according to international best practices and in line with the needs and privacy of the local market. MSCI made the upgrade decision as part of the May 2014 Semi-Annual Index Review. (QNA).