The Qatar Financial Markets Authority (QFMA) issued a resolution to establish a 'Single Window Committee for the Capital Market' with the goal of reducing time and effort and significantly simplifying procedures for companies whose activities are related to the financial markets in the country.
This is to be achieved by enabling them to interact through one window only in cooperation between the QFMA, Ministry of Commerce and Industry (MOCI), Qatar Stock Exchange (QSE), and Edaa Company.
According to CEO of the QFMA Dr. Tami bin Ahmed Al Binali, the establishment of a 'Single Window Committee for the Capital Market' represents an important step forward as it will facilitate and simplify procedures for companies active in the country's financial market. Al Binali pointed out that having a one-stop-shop window will optimize the work processes for these companies to a great extent as their dealings will be limited to a single window at once instead of dealing with each one of the other competent authorities separately.
Among the other advantages provided by the 'one-stop-shop window for the capital market' for these companies is having streamlined and smooth processes for the public offering and listing of securities on QSE, whether upon their incorporation, conversion to a joint stock company, direct listing, or entry into any acquisitions or mergers.
The establishment of a 'Single Window Committee for the Capital Market' comes within the endeavors in the country to continuously update and modernize the capital market regulations and legislations to keep abreast with the changes taking place in this vital sector internationally, and to meet its needs locally, in addition to supporting the relentless efforts of the QFMA to improve the work processes in the market with a view to achieving its outlooks aimed at advancing the financial services provided to investors as well as to the issuers of securities wanting to be listed on the market.
Dr. Al Binali stressed that the 'one-stop-shop window for the capital market' is a qualitative initiative taken by the QFMA, through which it is introducing a new mechanism to enhance cooperation and coordination between all the concerned official authorities with which issuing companies wishing to be listed or make a public offering for securities deal with in any of the markets subject to the supervision of QFMA. This will eliminate duplication in the documents and information required by the different authorities by having a unified list for the documents and information required from companies for each type of deal or transaction in the Qatari financial markets.
Source: Qatar News Agency