Doha Bank plans to launch an investment fund trader

Publisher: Al Arab

Date : 09 March 2015

Doha Bank announced today its intention to launch a fund to invest traces the Qatar Exchange index funds in partnership with the company (LLC) as manager of the Fund and Group Company Securities, which will act as liquidity provider. The ceremony was held today during which the signing of an agreement to appoint company funds manager of the Fund and the license of the bank by the Qatar Exchange that the Fund tracks, following the approval by the Qatar Financial markets, stock index, and in the presence of Dr. R.. Seetharaman Group CEO of Doha Bank, Mr. Rashid Bin Ali Al Mansouri, chief executive of the Qatar Exchange and Mr. Fahmi twig CEO of funds. On this occasion, Dr. R. said. Seetharaman: "will be rolling investment, which is still waiting for regulatory approvals Fund, to follow Qatar's index. Once adopted by the Qatar Stock Exchange, will be listed on the Qatar Exchange, allowing investors the opportunity to benefit from the performance of the index includes several listed companies shares in one deal. is pleased Doha Bank set Group Securities Co., the country's leading brokerage firm, providing liquidity to the Fund, as Group Securities will provide prices of supply and demand permanent and regular as well as coordination with the fund manager to manage the display units of the Fund on the Qatar Exchange. For its part, will seek funds Asset Management Company, which enjoys full of record since 1998, to ensure the consistency of the fund's strategy with international standards for ETFs. " welcomed Mr. / Rashid Al Mansouri, CEO of Qatar Exchange, the intention of the bank's progress to regulators license application of the Fund, and he expressed his congratulations to the partners being one of the first who committed to obtain a license from the market that the fund tracks the Qatar Exchange index He continued by saying: "After the approval of this Fund by regulators, will investors can trading units that follow the index and includes 20 shares, With this fund offers the opportunity to take advantage of alternative strategies for trading. The ETFs experiencing significant growth at the international level, and is now under way to prepare for the launch of a number of such funds in the State of Qatar. We must praise the partners in this initiative for taking this important about the inclusion of this new category of investment products on the Qatar Exchange steps. " In a statement commenting on the event said Sheikha Hanadi Nasser Bin Khaled Al Thani, Founder and Chairman of funds the company: "put the company funds since its founding new standards by adopting leading initiatives in the field of investment and asset management in Qatar and the Middle East and North Africa. Our approach has helped thoughtful and disciplined in highlighting the company funds the financial institution committed to excellence. And cherish Pthalphena with Doha Bank Group Securities in this new initiative, and we look forward towards strengthening our investment that we bring in the region. " He also expressed Mr. / Hamad bin behind Moudadi, Group Chairman Securities in a similar statement Group welcomed the company to innovation in the markets capital given that these products will attract investors in Qatar. said in remarks on this occasion: "These products provide the opportunity for those who wish a long-term investment in the market, as they also attract traders who are interested in making a quick speculative transactions. Has been Group Securities appointment because of their extensive experience in the local market. "Mr. Moudadi pointed out that the Group company operating as a provider of liquidity basic shares since 2008, and it has all the possibilities to be able to perform this important role for the management of liquidity to these new products in the stock market."