DOHA: Qatar Central Bank (QCB) has launched the first phase of its Primary Dealer framework in collaboration with Bloomberg, marking a key milestone in the development of Qatar's capital markets.
Aligned with QCB's Third Financial Sector Strategy, the initiative is set to modernize the market infrastructure, enhancing efficiency, transparency, and participation in Qatar's financial markets. This effort is a key component of Qatar's National Vision 2030, aimed at diversifying the economy and increasing its attractiveness for foreign direct investment.
QCB has adopted Bloomberg's Auction System to streamline its local currency debt issuance and liquidity management workflows. Integrated with the Bloomberg Terminal, this system supports the development of QCB's debt issuance process, marking a significant milestone with the successful conclusion of its first auction on Dec. 26, 2024.
In addition to the Auction System, QCB has also implemented Bloomberg AIM, a leading order and investment management solution that delivers multi-asset solutions and provides comprehensive front-to-back workflows. This integration enhances QCB's ability to manage the entire trade lifecycle with advanced analytics to optimize fiscal strategy and improve operational oversight.
Assistant Governor of Financial Market Instruments and Payment Systems at QCB, Sheikh Ahmed bin Khalid Al-Thani, emphasized the strategic importance of this initiative, highlighting that QCB is committed to enhancing Qatar's market infrastructure to increase its attractiveness to investors.
He stated that the primary Dealer framework supports the issuance and distribution of government bonds, including Islamic sukuk, and is a crucial part of our broader strategic plan, emphasizing that this development is a testament to the QCB's dedication to creating a modern and transparent financial market, reinforcing Qatar's position as a leading financial hub in the region.
This first phase of the Primary Dealer framework rollout ensures a structured and effective approach to enhancing market infrastructure and boosting investor participation and confidence, he underlined.
For his part, Bloomberg's Global Head of Electronic Trading Solutions, Nicholas Bean, underlined the importance of collaboration with QCB to strengthen its financial market infrastructure, highlighting that the adoption of Bloomberg's solutions will enable QCB to enhance its operations, improve transparency, and strengthen connectivity with the global financial community, further contributing to the growth of Qatar's financial market.
QCB's phased implementation of the Primary Dealer framework represents a key initiative to strengthen Qatar's financial infrastructure. The first phase focused on integrating the Bloomberg Auction System to enhance the local currency debt issuance process and workflows. Future phases will focus on enabling cross-border access, scalability, and deepening liquidity in secondary markets.
The Primary Dealer framework is designed to increase market efficiency, liquidity, and investor confidence, supporting the issuance and distribution of government securities, including Islamic sukuk, while promoting greater market stability and participation. These efforts underscore QCB's commitment to fostering a dynamic and transparent financial ecosystem.
