(adds comments on new financial products, law)
DOHA, March 13 Qatar's stock market will list
two exchange-traded funds in the next two months, the chief
executive of the Qatar Financial Centre (QFC) Authority said on
"Within the next month or two, there will be the listing of
two exchange-traded funds, one Islamic and one conventional,"
Yousuf al-Jaida told reporters.
Last October, bourse officials told Reuters that Qatari
banks Masraf Al Rayan and Doha Bank planned
to launch the Gulf state's first ETFs by the end of 2016. Jaida
did not comment on Monday on the change of schedule.
The QFC currently has seven or eight licensed financial
companies that would like to list on the market, Jaida said.
SEIB Insurance and QInvest are the closest to listing, he added
without giving details.
The QFC has its own legal, regulatory, tax and business
infrastructure, which allows for 100 percent foreign ownership
and full repatriation of profits.
QFC houses the Qatari offices of international banks
including Citi, Deutsche Bank and UBS, although most choose to
base their regional headquarters in Dubai's more established
financial free zone.
Jaida said the QFC would allow more stock listings and
financial products on the bourse including sukuk and real estate
investment trusts, and would "very soon" introduce a new law
governing the QFC that reduced red tape for foreign investors.
"We need to simplify procedures to attract investment into
Qatar," he said.
(Reporting by Tom Finn, writing by Hadeel Al Sayegh, editing by