Monitoring body needed for UAE bourses - Emirates 24/7:
"A leading UAE businessman has called for the creation of a body to monitor the local stock market to ensure more accurate data, warning that lack of transparency by companies will only discourage foreign investors.
Khalaf Al Habtoor, chairman of Al Habtoor Group, one of the region’s largest family business conglomerates, said the UAE has a strong economy and financial system but added this is not enough to lure in foreigners into its bourses.
“We need more compliance by companies listed on the UAE bourse…in this respect, we need to have an autonomous body to monitor the bourse to ensure safe dealings and protect the rights of the investors,” he told Emirates24|7.
“We need to have a more organised bourse if we want global investors to continue investing their funds here…investors need to have confidence in our market if a listed company releases its financial results or makes an announcement…we should work to develop our market in order to compete with such leading markets as New York, London, Paris, Frankfurt and key Asian markets.”"
'via Blog this'
No comments:
Post a Comment