Latest news with #QFMA
Zawya
20-05-2025
- Business
- Zawya
Doha to ‘intensify' development of local currency debt: GCMA
Doha may 'intensify' the development of its local-currency debt market, which is currently going through an 'exciting' phase in view of the robust macroeconomic fundamentals and sovereign support, according to the Gulf Capital Market Association (GCMA). The local capital market regulator (Qatar Financial Markets Authority or QFMA) is committed to the sustainable sector and has increased the clarity around the issuance and listing of debt, Michael Grifferty, President, GCMA said in the Qatar Financial Centre's latest Islamic Finance report. The local currency market has begun to gain traction as it saw its first issuance by a publicly listed company in 2024, he highlighted. Estithmar Holding had last year issued a QR500mn sukuk, marking the first corporate issuance denominated in Qatari riyal, under its QR3.4bn programme. The three-year sukuk, maturing in September 2027, offers an 8.75% coupon and drew interest from government and non-government investors, including banks, insurers, asset managers and family offices. 'There is a possibility that Qatar may intensify the development of its nascent state local-currency programme,' Grifferty said. Terming Qatar's debt capital market as an 'exciting' work in progress, he said 'we have already seen an increase in the diversity of issuers and structures, many in sukuk format and increasingly for sustainable uses.' The state led in this regard by issuing a green bond in a benchmark size, and was the first regional sovereign to do so. In 2024, Qatar set a regional benchmark by issuing $2.5bn in green bonds to fund environment friendly projects, marking a new era for sustainable finance. The bonds are divided into two tranches: a $1bn tranche with a five-year maturity priced at 30 basis points spread over the US treasuries and a $1.5bn tranche with a 10-year maturity priced at 40 basis point spread over US treasuries. 'Banks have added labelled ESG (environment, social and governance) bonds and sukuk to their active issuance programmes,' Grifferty said. The Qatar Central Bank (QCB) is certainly behind this trend, having published its ESG and Sustainability Strategy for the Financial Sector in 2024, he said. 'This is having results, as almost 20% of the debt capital market is being issued for ESG purposes,' he said, quoting an international credit rating agency Fitch. Qatar's domestic markets have been buoyed by a robust economy underpinned by supportive public spending and the authorities' commitment to invest in economic transformation. 'Adding in a well-capitalised banking system and regulatory developments, the case for the Qatar market has only strengthened,' he said. Regulators for their part are laying the foundation for more active debt and equity markets with further market liberalisation, including by easing listing requirements and providing greater clarity about the path to issuance of both debt and equity instruments, according to him. Rounding out the ecosystem are the recent establishment of a ventures exchange, and the completion of a groundwork for listed derivatives to allow trading of futures and options, he said, adding 'we have also begun to see some activity in securities borrowing and lending (SBL). © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Qatar Tribune
15-05-2025
- Business
- Qatar Tribune
50th IOSCO annual meet concludes in Doha
QNA Doha The 50th annual meeting of the International Organization of Securities Commissions (IOSCO), hosted by Qatar Financial Markets Authority (QFMA) over three days, concluded its schedule in Doha on Wednesday, with the participation of delegations of IOSCO member states and capital market experts from around the world. Participants in this important international event discussed the key challenges and opportunities in regulating and developing financial markets, and ways to enhance transparency and financial stability regionally and internationally. During the last day, representatives of IOSCO Member States and participants held a meeting of the IOSCO's Diversity Network and the MMoU MG + signing ceremony. A roundtable meeting was also held between the Organization for Economic Cooperation and Development (OECD) and the IOSCO. As part of the last day's activities, CEO of QFMA and Chairman of the IOSCO's Presidents Committee, Dr Tamy Bin Ahmad Al Binali, chaired the meeting of the Presidents Committee, which is one of the most important strategic meetings on the IOSCO agenda. The meeting was attended by IOSCO Secretary General Rodrigo Buenaventura and IOSCO Board Chair Jean-Paul Servais as well as the presence of the chairs of the IOSCO Committees and bodies, representatives of Member States, and many international financial institutions. During the Presidents Committee meeting, Dr Al Binali expressed his happiness at the presence of IOSCO members and participants in Doha, welcoming them to Doha. 'Today, Qatar stands as a regional and global hub where traditions dictate modern governance, and economic transformation is driven by a long-term vision, stability, and innovation,' he said. 'It is particularly fitting that we are gathering in Qatar to celebrate a significant milestone in the global regulatory landscape — the 50th Annual Meeting of IOSCO. For five decades, IOSCO has upheld the integrity of capital markets, promoting transparency, fairness, and resilience across various jurisdictions. 'As we look back on IOSCO's 50-year journey, let's consider how far we've come—from ticker tapes and trading pits to tokenized assets and decentralized exchanges. What used to take days now happens in seconds. 'What was once regional is now immediately global. IOSCO's evolution reflects this transformation. From a modest network of national regulators, it has become a global standard-setter, representing over 95% of the world's securities markets across 130 jurisdictions'. Dr. Al Binali continued, saying that throughout financial crises, systemic shocks, and waves of innovation, IOSCO has remained committed to its mission: to protect investors, uphold market integrity, and safeguard financial stability. Now, as we reach the frontier of artificial intelligence, crypto-assets, and real-time supervision, we are once again called to lead rather than simply react. He added that in 2023, global trading volumes in digital assets reached record levels, with some months exceeding USD 10 trillion. This trend highlights the rapid changes occurring in the market. At the same time, many financial institutions have reported using AI tools for various market functions. Regulators are also increasingly adopting AI to improve surveillance, compliance oversight, and data-driven supervision. These developments are not future trends; they are current realities. Dr. Al Binali explained that in response, IOSCO has taken significant action by issuing global guidance on the regulation of crypto-assets, decentralized finance, and the responsible use of AI in capital markets. 'However, the work ahead involves more than just creating rules. It is important to focus on implementation and capacity building. Most importantly, we must ensure that investor protection remains our top priority throughout this rapid transformation. 'From Qatar's perspective, our digital transformation is a strategic initiative that is closely aligned with our National Vision 2030. This vision places digital innovation at the core of a knowledge-based and globally connected economy. The Third Financial Sector Strategy supports this vision by highlighting the importance of fintech, digital resilience, and agile regulation'. He added that in line with these national strategies, the QFMA's 2023–2027 Strategic Plan focuses on several key areas, including a FinTech Sandbox, tokenization frameworks, smart contracts, robo-advisory services, and advanced regulatory technology (RegTech) and supervisory technology (SupTech) systems. Additionally, we collaborate with regional and global partners to ensure that our frameworks remain adaptive, compatible, and driven by innovation. This approach reflects Qatar's commitment to leading the way in establishing credible and future-ready digital regulations. Dr. Al Binali expressed that he strongly believes that IOSCO must evolve into the leader in building trust within digital capital markets. 'We need to establish principles that are not only relevant on a global scale but also prepare for the future, with a strong focus on protecting investors in every jurisdiction, regardless of size,' he said. 'Let this meeting mark an important moment where we commit to guiding the digital age with courage, clarity, and a united determination. The future of global capital markets is being shaped now; Let us write it together — wisely, boldly, and in the service of those we are here to protect'. During the Presidents Committee meeting, they addressed IOSCO's 50-year legacy and priorities. The meeting dealt with the IOSCO general policies and ways to coordinate efforts among members to contribute to enhancing the efficiency and fairness of global capital markets. They also discussed the presentation of the IOSCO leadership report on IOSCO's work since the last Annual Meeting. The Presidents Committee meeting also witnessed a public discussion moderated by the IOSCO Secretary General covering Suptech, Artificial Intelligence, and Crypto Regulation—including implementation and capacity building. For their part, the participants in the meeting praised the good organization and hospitality of Qatar, stressing the importance of continuing such meetings to enhance cooperation and exchange of experiences among the global capital markets regulator. The 50th IOSCO annual meeting was attended by a group of many decision-makers, representatives of global regulators and experts in capital markets. IOSCO is one of the key international organizations concerned with regulating and developing capital markets and enhancing cooperation among global capital market regulators. Its membership includes more than 130 regulators around the world, working to enhance transparency, protect investors, and ensure the stability of international capital markets.
Zawya
14-05-2025
- Business
- Zawya
Qatar: Draft regulation on AI use in financial market to be issued soon
Doha: Qatar Financial Markets Authority (QFMA) is planning to issue a draft regulation on AI use in Qatar's financial market. In a statement to Qatar News Agency (QNA), Acting Director of Securities Offering and Listing Affairs Department at QFMA Ali Beraik Shafeea said AI currently presents both opportunities and challenges for regulatory authorities. He noted that it is essential to understand this technology to regulate its use. The regulatory authority has projects to regulate the use of AI in the State of Qatar, with the first draft regulation for its usage expected to be issued soon, he said. This came on the sidelines of the 50th Annual Meeting of the International Organization of Securities Commissions (IOSCO), taking place in Qatar from May 12 - 14. Shafeea added that Qatar's hosting of the IOSCO - which regulates 95 percent of the world's securities markets - is a milestone and boosts investor confidence in the Qatari capital market. He added that several projects will be discussed, including capacity building for countries in need of legislative and technical support, financial sustainability, how to invest in an environmentally friendly manner, and topics related to financial technology. Shafeea also highlighted QFMA's 63-initiative strategy (2023-2027) and its 98- initiative financial sector strategy, to regulate new financial products, including AI. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
