DOHA: Qatar exchange’s (QE) decision to develop a QE Venture Market is aimed at supporting the growth of SMEs and to position the bourse at the centre of the government’s ongoing support for this important sector, Rashid bin Ali Al Mansoori, CEO, QE has stated.
Addressing a SME workshop, jointly hosted by the QE and the Commercial Bank on Sunday, Al Mansoori said: “Qatar Stock Exchange recognises the importance of the SME sector which globally provides the foundation for successful economies, contributing employment opportunities, wealth creation and increased output. Qatar is no exception and Qatar Stock Exchange has therefore developed QE Venture Market with the objective of supporting the growth of SMEs and positioning Qatar Stock Exchange at the centre of the government’s ongoing support for this important sector, which is a key element in the National Vision 2030.”
Highlighting the importance of listing SMEs he said it is important for the success and future growth of SMEs. Because it is critical to get the community working together, including company founders, investment bankers, lawyers, accountants, traders, analysts and investor relations professionals.
“We hope to be working hard with all of you to ensure a healthy pipeline of suitably qualified companies is able to come to our market. It is expected that these companies will be SMEs from Qatar, the GCC and the MENA region to establish a solid foundation for our nation’s future.”
During the workshop, QE Director of the Listing Department, Abdul Aziz Al Emadi, gave a detailed presentation about the many benefits SMEs will have access to when listing on QSE. He clarified that offering liquidity and valuation is a primary benefit for listing on QSE, especially in view of the fact that private and family businesses are reaching a stage where the first or second generation owners are no longer so active in the business. Thus, listing is a solution for succession and business continuity considerations.
In his opening speech, Commercial Bank CEO Abdulla Saleh Al Raisi said: “As Qatar’s first private bank, we actively support the Qatar National Vision 2030, which sets out an economic blueprint of a viable and prosperous future for Qatar as our nation continues to transform into a more knowledge-based economy. Key to this blueprint is achieving economic diversity and sustainability through SMEs, and Commercial Bank is committed to serving the needs of SMEs to support the growth and vitality of our national economy. Commercial Bank is the SMEs bank of choice in Qatar and through our specialised Enterprise Banking department, we provide targeted support for SMEs to grow and succeed through our bespoke, value-added products and services such as this joint workshop today.”
Al Raisi added: “Qatar Exchange Venture Market is envisioned as the ‘Home of Entrepreneurial Qatari companies’ adding value locally with the potential to compete globally. This is a very ambitious goal and the Venture Market is still in its development phase, but through proper SME engagement and partnerships withkey strategic partners such as Commercial Bank, the Venture Market is seeking to raise awareness and increase interest from potential companies looking to list.”
The Peninsula
