Qatar Financial Markets Authority (QFMA) announced the launch of the Single Window E-Portal, which aims to facilitate the procedures for securities offering and listing and provide many advantages to companies participated in the financial market.
QFMA explained in a press release today that submitting the related applications will be available as of Tuesday, Sep. 19, 2023, via the Single Window E-Portal has been developed on the QFMA website.
The single window, for which Dr. Tamy bin Ahmad Al Binali, CEO of QFMA, announced the formation of a special committee early last July, will represent a qualitative shift that shall achieve the maximum degree of facilitation and convenience for companies whose activities are related to the Qatari financial markets. It will have major implications in significantly simplifying the procedures for such companies by limiting their dealings with only one entity instead of dealing with other competent authorities separately, including QFMA, Ministry of Commerce and Industry (MOCI), Qatar Stock Exchange (QSE), and Edaa (QCSD).
The single window also provides many other advantages for such companies, related to facilitating the procedures related to securities public offering, or listing on QSE, or in the event of any acquisitions or mergers.
The “Single Window for the Capital Market” is a qualitative initiative of QFMA, through which a new mechanism is developed to enhance cooperation and coordination among all relevant official authorities that deal with the issuers wishing to make public offering or listing of securities in any of the markets subject to QFMAs jurisdiction. This has a significant impact in preventing duplication of documents and data required from each of the concerned parties and providing a unified list of such documents and data in every case of their dealings in the Qatari financial markets.
The launch of the “Single Window for the Capital Market” comes in light of the continuous development and modernization of the capital market regulations and legislation in the country, and in keeping with the global changes taking place in this vital sector as well its privacy needs, in addition to strengthening the QFMAs ongoing efforts in improving the working mechanisms of the market to achieve its aspirations aimed at improving the financial services provided to investors and securities issuers wishing to be listed.
QFMA is making great efforts to improve the Qatari capital market and develop its financial services, protect the investments of the market participants, work to remove all obstacles that they may face, and maximize the returns from their transactions in the Qatari capital market, to make it an attractive competitive market for national and foreign investments.
QFMA had announced the formation of a special committee for the Single Window, responsible for receiving, studying and reviewing applications for securities offering and listing, admission to trading applications on QSE, and applications for registration with Edaa by various means, and ensuring that they complete all requirements contained in the relevant legislation, especially with regard to offering prospectus and financial evaluation reports, as well as studying and reviewing acquisition and merger applications in which one of the parties is a company listed on the financial markets, and requests for voluntary delisting from the markets.
The “Single Window Committee for the Capital Market” consists of (11) members, including the Chairman and his deputy, and 5 members representing QFMA, one of whom is the chairman of the Committee, four members representing Qatar Stock Exchange, one of whom is the deputy chairman, one member representing the Ministry of Commerce and Industry, and one member representing the Edaa.
These members shall represent the concerned authorities that companies deal with when listing or making a public offering for securities, or when entering into acquisitions or mergers in the Qatari financial markets.
The Committee will coordinate with the relevant authorities to obtain the necessary approvals in accordance with the relevant legislations, and it may request the QFMA to sign memorandums of understanding with those authorities, if necessary, to define the frameworks of the relationship and to indicate responsibilities, facilitate the exchange of information and documents, and obtain the necessary approvals to undertake its tasks.
Source: Qatar News Agency