Wednesday 28 December 2011

gulfnews : Plan to list debt likely to boost Qatar bond sales

Qatar's plan to list government bonds on the country's bourse for the first time may motivate companies in the world's fastest-growing economy to sell bonds locally as Europe's debt crisis prompts its banks to lend less.
The central bank of Qatar said yesterday it would list treasury bills on the Qatar Exchange tomorrow "as a first step toward starting a secondary market." Listings of bonds and sukuk, or Islamic notes, would follow, the central bank said.
The urgency of developing Gulf credit markets has heightened as Eurozone countries seek to raise $1.1 trillion of debt in 2012, according to Deutsche Bank AG forecasts. Rather than relying on investment from Europe, borrowers may seek to lure investors in the Arabian Gulf.

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