QSE lays emphasis on quality corporate disclosures

DOHA: Qatar Stock Exchange (QSE) is in the process of introducing a new electronic system to assist listed companies in producing unified disclosure format, Rashid bin Ali Al Mansoori, CEO of QSE, announced yesterday.

Addressing a meeting of representatives from the Qatar Financial Markets Authority (QFMA), Qatar Central Securities Depository (QCSD), and the representatives from listed companies, the QSE CEO stressed the importance of disclosures and transparency in the financial market. He said transparency and effective corporate disclosures are vital for any market to help investors build their investment decisions. Transparency and adequate disclosures are key elements in the success of any financial market to gain the confidence of both individuals and institutional investors.

The companies on QSE have made great strides in the implementation of international standards in terms of disclosure and transparency and the development of dedicated Investor Relations (IR) departments. Such measures have great impact on the companies’ success in gaining investors’ confidence and ensure healthy, transparent and fair trading environment, he said.

“What matters to investors primarily are transparency, efficient disclosure process and access to information. Our consultative meetings with local and international brokers, funds and investment firms have assured the significance of access to executive management and the availability of information on the company’s plans, liquidity and dividends, are important factors on which investment decisions are based,” Al Mansoori stated.

Nasser Al Abdulghani, QSE’s Operations Director, also briefed the participants on the best disclosure practices and stated that the aim of the meeting is to promote cooperation and coordination between communication officers of the listed companies and the representatives of QFMA, QCSD, and QSE for the best interest of investors. The best way to reach this objective is through exchanging views and listening to suggestions from the participants in order to overcome the difficulties encountered in the application of the best disclosure practices in the market, he said.

The QFMA and QCSD representatives responded to some queries from the communication officers representing the participating listed companies and listened to their recommendations and suggestions to promote the disclosure practices and strengthen cooperation among listed companies, the QFMA, the QCSD, and the QSE for the best interest of investors. The meeting was concluded with some recommendations that are in the interest of investors, the financial market and the national economy.