Qatar’s bourse has done all it needs to secure an upgrade to emerging market status from index compiler MSCI and the onus is now on individual companies to address the main foreign ownership limit issue, its top executive said.
Andre Went also told Reuters in an interview that the exchange, home to the best-performing regional benchmark last year, aims to launch trade in bonds, introduce market makers and increase companies listed on the bourse.
The biggest issue facing investors in the tiny Gulf Arab state, the world’s richest country per capita, is the low foreign ownership of Qatari companies, and this prompted a snub from MSCI during its review in December when it retained the country as frontier market.
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