(MENAFN - The Peninsula) Qatar Financial Markets Authority (QFMA) has signed a partnership agreement with the Association of National Numbering Agencies (Anna).
As per the agreement, QFMA is authorized for the task of numbering of all domestic securities issued in Qatar with unified International Securities Identification Number (ISIN) and the Classification of Financial Instruments (CFI) code
Nasser Ahmed Al Shaibi, CEO, QFMA described the decision as an important step to transform Qatari market into more efficient . The decision would help boost the investor confidence
The ISIN and CFI are globally recognized identity for securities and are instrumental in attracting international investors, especially international financial institutions. It also enhances the accurate representation of listed Qatari companies, while reducing any risk of misrepresentation or confusion between similar named entities, he added.
The launch of securities numbering is also the part of QFMA's ongoing initiatives to give better exposure of the Qatar capital market to the International Financial Markets. Gaining the membership of the International Organisation of Securities Commissions (IOSCO) and the upgrade of the Qatar Exchange to Emerging Market status, has already given a boost to Qatar's financial market.
Formed in 1992 under Belgian Law, ANNA was created to promote the use of International Securities Identification Numbers as the adopted method of uniquely identify financial instruments. ANNA was subsequently appointed by ISO (the "International Organization for Standardization") as the Registration Authority and Maintenance Agency for the ISIN Standard (ISO 6166). The Association originally started 22 National Numbering Agencies (NNAs), and twenty years later it comprises more than 110 NNAs.