QATAR’S ECONOMY HAS GONE THROUGH POSITIVE CHANGES IN THE LAST TWO DECADES AND ITS GROWTH IS BASED ON BUILDING A ROBUST, DIVERSIFIED ECONOMY AND SUPPORTING THE GROWING ROLE OF THE PRIVATE SECTOR IN INCREASING PRODUCTION AND INVESTMENT, SAYS QATAR STOCK EXCHANGE (QSE) CHIEF EXECUTIVE OFFICER RASHID ALI AL MANSOORI. BY V L SRINIVASAN
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owever, he says the role of the private sector as one of the pillars of diversifying income sources has not thus far reached the desired level and much remains to be done to develop it. The responsibility for doing so rests with both the government and the private sector. “Therefore, an efficient and well established capital market contributes to the growth of the economy since it facilitates efficient capital allocation, allocating funds to those projects and companies that generate the highest return,” Al Mansoori says. QSE supports Qatar’s financial sector by offering a platform for the government’s privatisation programme, supporting familyowned companies, and offering a diversified range of products for local and international investors. QSE has initiated a dedicated SME Venture Market for many Qatari SMEs seeking corporate growth and expansion. In addition, QSE facilitates companies and the government to raise capital and offer investors an efficient platform for asset allocation (capital formation and capital allocation). “Based on the above, we can see that the Exchange measures and controls the growth of the national economy. Thus, the Exchange is a barometer of the economy since it maintains the stock indices which are the indicators of the general trend in the economy,” he says. The bourse can also benefit small investors through allowing them to participate in the growth of large companies, by buying a small number of shares. This will allow the public to mobilise their savings to invest in high-yielding economic sectors. In the last three years after he joined QSE, Al Mansoori has initiated many changes in the day-to-day functioning of the bourse and they include bringing more transparency, encouraging new companies to go for Initial Public Offering (IPOs), and launching a second market for the Small and Medium-sized Enterprises. The one area where he is yet to taste success is luring new companies to get listed on the Stock Exchange but he is leaving no stone unturned. Al Mansoori feels that there is a lot more ground to be covered to put QSE among the top bourses in the world and is working QATAR TODAY > JULY 2015 > 33