Bank Stocks Will Likely Attract Top Interest in New Qatar Market

MANAMA, Bahrain -- The tiny Persian Gulf state of Qatar is poised to launch its first formal stock market next week, confirming a thrust by the emirate's new rulers to liberalize the economy. Energy-rich but somewhat underdeveloped, Qatar has been in the forefront of regional economic developme...

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Bibliographic Details
Published inWall Street journal. Europe
Main Author By Abdullah Fardan AP-Dow Jones News Service
Format Newspaper Article
LanguageEnglish
Published Brussels Dow Jones & Company Inc 20.05.1997
EditionEurope
Subjects
Bank stocks
Banking
Brokers
Investments
Securities markets
Stock exchanges
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Summary:MANAMA, Bahrain -- The tiny Persian Gulf state of Qatar is poised to launch its first formal stock market next week, confirming a thrust by the emirate's new rulers to liberalize the economy. Energy-rich but somewhat underdeveloped, Qatar has been in the forefront of regional economic development since a June 1995 palace coup brought a younger generation to power, led by the current emir, Sheik Hamad bin Khalifa al-Thani. Sheik Hamad announced the official formation of the Doha Securities Market a month later, and his younger brother, Finance Minister Sheik Mohammed bin Khalifa al-Thani, will formally open the DSM next Monday. The new market will replace unofficial stock trading now conducted by unlicensed stockbrokers via telephone.
ISSN:0921-9986