Currently, only governmental bonds issued by the Qatar Central Bank (“QCB”) on behalf of the government of Qatar are listed on the QE. Although the procedures relating to pledging of securities prescribed by the Qatar Central Securities Depository (“QCSD”) Rules of Dealing do not differentiate between shares and bonds, there are legal and practical differences in pledging bonds under Qatari Law 22 of 2004 (“Civil Code”). This article will set out a summary of the issues relating to creation of a pledge over securities and discuss enforcement issues in Qatar. 

Qatar Stock Exchange

The QE is the securities market in the State of Qatar and is regulated by the Qatar Financial Markets Authority (“QFMA”). Last year QE was upgraded from frontier to emerging market status by index provider MSCI, signalling investor confidence and improved governance. Currently, the QE has 43 listed companies and trades on securities, Government Bonds, Sukuks and Treasury Bills issued by the QCB.

Qatar Central Securities Depository