Doha Bank plans to launch investment fund in stock

Publisher: Al Raya

Date : 09 March 2015

Doha - Ensign: Doha Bank yesterday announced 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.
Was held today a ceremony during which the signing of an agreement appointing funds company 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.setharaman Group CEO of Doha Bank and Mr. Rashid Bin Ali Al Mansouri, chief executive of the Qatar Exchange and Mr. Fahmi twig CEO of funds.
Said Dr. R.setharaman "will rolling investment, which is still waiting for regulatory approvals Fund, keeps track of 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 of shares Several listed companies in a single package.
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, it 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. "
Mr. Rashid Al Mansouri, CEO of Qatar Exchange, the intention of the Bank welcomed the progress to regulators license application to the Fund, and 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, and continued by saying: "After the approval of the This Fund by regulators, will investors can trading units that follow the index comprises 20 stocks, and 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 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. "
Her Excellency Sheikha Hanadi Nasser Bin Khaled Al Thani, Founder and Chairman of funds firm: "funds the company has developed since it was established new standards by adopting pioneering initiatives in the field of investment and asset management in Qatar and the Middle East and North Africa. Has helped our approach thoughtful and disciplined in highlighting Amwal financial institution committed to excellence. We are proud Pthalphena with Doha Bank and Securities Group in this new initiative, and we look forward towards the promotion of our products which we bring investment in the region. "
He also expressed Mr. Hamad Bin Khalaf Moudadi, Group Chairman Securities in a similar statement from the Group Company welcome innovation in the capital markets, given that these products will attract investors in Qatar. He said in comments he made 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 considerable experience in the market local. "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."