The Arab Federation of Exchanges (AFE) is creating two Arab indices, one of which has the potential to create exchange traded fund (ETF) as the body has proposed interconnectivity among Arab clearing houses.
“We discussed creating Arab indices, which will reflect the performance of the stock markets in the region. We may try to have two indices, one of which will be wider to cover almost all the Arab countries, and the other one will be limited to most liquid companies in order to build a trade-able ETF on that index,” AFE secretary general Fadi Khalaf told Gulf Times after the annual council meeting.
In the meeting, it was also decided that Qatar Exchange, represented by its acting chairman Hussain Ali al-Abdullah, will chair the federation for the next 12 months; taking the mantle from Sulaiman S Alshahoumy, chairman of Libyan Stock Exchange.
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