The Financial Markets Authority of Qatar Issues Resolution Establishing a Single Window Committee for Capital Market

(MENAFN – The Peninsula) The Peninsula

Doha, Qatar: The Qatar Financial Markets Authority (QFMA) has issued a resolution establishing a Single Window Committee for the Capital Market with the aim of reducing time and effort and streamlining the procedures for companies whose activities are related to the financial markets in related, greatly simplify the country. This is to be achieved by allowing them to interact through a single window in collaboration between the QFMA, the Ministry of Trade and Industry, the Qatar Stock Exchange and the Edaa Company.

according to dr Tami bin Ahmed Al Binali (pictured), CEO of the Qatar Financial Markets Authority, said the establishment of a “Single Window Committee for the Capital Market” represents an important step forward as it improves procedures for companies operating in this space , will facilitate and simplify The country’s financial market. The creation of a single point of contact will greatly streamline the workflow for these companies as their business will be restricted to a single point of contact at a time, rather than dealing separately with every other relevant authority, namely the Ministry of Trade and Industry, the QFMA, the Qatar Stock Exchange and the Edaa Company.

Other benefits that the “One-Stop-Shop Capital Markets Window” offers to these companies include streamlined and smooth processes for the public offering and listing of securities on the Qatar Stock Exchange, whether at their incorporation or Conversion to a public company, direct listing on the stock exchange or participation in takeovers or mergers.

The establishment of a Single Window Committee for the Capital Market is part of the country’s effort to continuously update and modernize capital markets regulations and laws to keep up with changes in this important sector internationally and meet its needs to become on-site, in addition to supporting the QFMA’s tireless efforts to improve the working processes in the market in order to achieve its objectives aimed at improving the financial services for investors as well as issuers of securities wishing to be listed on the stock exchange improve market.

dr Al Binali emphasized that the “One-Stop-Shop Capital Market Window” is a qualitative initiative by the QFMA, with which it introduces a new mechanism to ensure cooperation and coordination between all relevant official authorities with which the issue is made to enhance companies wishing to be listed or make a public offering of securities on any of the markets regulated by the QFMA.

This avoids duplication of documents and information required by different authorities, as there is a unified list of documents and information required by companies for any type of business or transaction in Qatar financial markets.

The QFMA is doing everything in its power to improve the Qatari capital market and further develop its financial services, protect traders’ investments in removing any obstacles they may face and maximize the return on their transactions in the Qatari capital market could become a more competitive and attractive market for domestic and foreign investment.

The responsibilities of the Single Window Committee for the Capital Market, pursuant to the resolution establishing it, include receiving, reviewing and examining applications for the offering and listing of financial securities and their acceptance for trading on the Qatar Stock Exchange and applications for you to become registered with the Depositary by any means possible and ensured that they comply with all the requirements of the relevant legislation, in particular those set out in the offering prospectuses and the financial valuation reports.

The Committee is also responsible for receiving, investigating and reviewing merger and acquisition proposals where one of the parties is a publicly traded company. Requests for voluntary delisting from the financial markets also fall within the remit of the committee, which includes coordinating and communicating with the issuing authority and their advisers with regard to all such requests to ensure that the requirements of the relevant authorities are met.

The responsibilities of the Single Window Committee also include reaching out to the issuing bodies and their advisors to request additional information or clarification of any concerns related to the submitted applications, and having the representatives of these bodies attend the committee meetings to request. The Single Window Committee finally submits its recommendations to the Qatar Financial Markets Authority after ensuring that the requirements of the respective authorities are met in order to prepare the relevant decisions. The Single Window Committee, in cooperation with the relevant authorities, may collect the fees due as well as the fees due to the QFMA itself in consideration for its services.

The Capital Markets Single Window Committee consists of eleven members, including the Committee Chair and Vice-Chair. A resolution of the CEO of the QFMA will be issued to appoint the members of the Committee. The decision also includes the appointment of the chair of the committee, his deputy chair and his rapporteur.

The Single Window Committee for the Capital Market consists of five members representing the QFMA, one of whom is the Chair of the Committee, four members representing the Qatar Stock Exchange, one of which is the Vice Chair, and one member , representing the QFMA Ministry of Trade and Industry and one member representing the Edaa Company.

The Committee will coordinate with the relevant authorities to obtain the necessary approvals under relevant legislation and may request the QFMA to sign memoranda of understanding with those authorities, if necessary, to frame the relationship and establish responsibilities. facilitates the exchange of information and documents and obtains the authorizations necessary for the performance of its duties.

In carrying out its duties, the Board relies on the relevant legislation to determine the documents and information to be provided by the issuing authorities or their advisers, according to the specific requirements of each application submitted and in accordance with the framework for the examination of these documents and information.