Financial Services

Having emerged as one of the most resilient financial markets in the region in the wake of the international economic downturn of 2008-09, Qatar is working to further boost its profile. The government has made a concerted effort to expand the country’s asset management industry, in particular, to meet steadily expanding global demand for local and regional funds.

A recent move by the Asset Management Corporation of Nigeria (AMCON) to list its N1.68trn ($10.85bn) bond on the Nigerian Stock Exchange (NSE) will give a boost to the country’s emerging fixed-income market.

Having recently published its executive bylaws, Kuwait’s first independent stock market regulator, the Capital Markets Authority (CMA), is now ready to begin operations.

The financial health of Kuwait’s banking sector has improved markedly since the height of the global financial crisis, when falling asset prices had a negative impact on balance sheets and a number of institutions faced rising numbers of non-performing loans. Today, banks are well capitalised and reporting increased profits.

A recent call to expand capital markets and broaden the country’s economic base appears to have struck a chord with Omani companies and a series of initial public offerings (IPOs) have been announced.