(MENAFN- Qatar News Agency) The number of joint stock companies allowing inter-GCC share trading between GCC citizens grew by 95 percent in 2012 compared to only 20 percent in 1985, according to local media quoting GCC statistics.
Based on data released by the Riyadh-based general secretariat of the Gulf Cooperation Council, quoted by Al-Eqtiadiah daily, the number of companies rose to 644 in 2012 with their capital reaching $227 billion (SR851.25 billion)
The number of joint stock firms accessible to the GCC citizens has rated 100 percent in Saudi Arabia, Qatar and Kuwait whereas this rate reached 96 percent, 94 percent and 75 percent in Bahrain, Oman and the UAE, respectively, the report said, according to Arab News daily
Kuwait topped the list of the GCC countries of having the biggest number of joint stock companies allowing GCC citizens to trade shares by 214 companies, followed by Saudi Arabia at 158 firms, Oman (108), the UAE (79), Bahrain (43), and Qatar (42), the report said.
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