Qatar has ranked second in the Gulf region in terms of the value of its bonds traded on the international market. The value of the Qatari bonds traded on the global market totalled a whopping $23bn.
The United Arab Emirates ranked first with $55bn worth of bonds traded on the global markets, according to a study which has been conducted based on statistics released by the Bank for International Settlements (BIS). The figures were released by the Dubai Chamber of Commerce and Industry, Al Sharq reported yesterday.
The increase in the value of Qatari bonds forced the UAE to maintain transparency and competitiveness. The emirates had to reduce costs, said the study. The presence of strong bonds and Sukuk markets in the UAE enables certain things such as securitization to create bonds backed by the mortgage market and put housing loans and financial brokerage activities at the level of developed countries.
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