DOHA, QATAR – Qatar Financial Markets Authority (QFMA) announced the launch of a single window e-portal, which aims to facilitate and ease procedures for securities offering and listing to companies participating in the financial market.
QFMA explained in a statement that submitting the applications was made available on Tuesday via the single window e-portal that has been developed on its website.
The single window, for which Dr. Tamy bin Ahmad Al Binali, CEO of QFMA, announced the formation of a special committee last July, will represent a shift that shall provide maximum degree of convenience for companies whose activities are related to the Qatari financial markets.
It will simplify 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 companies, related to securities, public offering, or listing on QSE and in acquisitions or mergers.
The “Single Window for the Capital Market” is an initiative through which the new mechanism has been developed to enhance cooperation and coordination among all relevant authorities wishing to make public offering or listing of securities in any of the markets subject to QFMA’s 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 of their dealings in the Qatari financial markets.
The launch of the single window comes in light of the continuous development and modernization of the capital market regulations and legislation in the country.
This is in line with the global changes taking place in the sector as well as privacy needs.
It is also aimed at improving the financial services provided to investors and securities issuers wishing to be listed.
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.
The special committee will ensure that the applications complete all requirements with regard to offering prospectus and financial evaluation reports.
It will also study and review 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. Five members will represent QFMA, one of whom is the chairman, four members represent Qatar Stock Exchange, one of whom is the deputy chairman, one member represents the ministry of commerce and industry, and one member represents QCSD.
The committee will coordinate with the authorities concerned to obtain necessary approvals.
It may request the QFMA to sign memorandums of understanding with those authorities to define the frameworks of the relationship and to indicate responsibilities, facilitate the exchange of information and documents and obtain necessary approvals to undertake its tasks.