(MENAFN- The Peninsula) The failure of some companies to provide information in English and Arabic; and the difficulty in reaching out to communication officials of listed companies are some of the key issues that stand in the way of transparency and disclosures of listed companies, a senior official of Qatar Exchange (QE) said yesterday.
Attending a consultative meeting on QE's disclosure practices, the official noted that there is lack of commitment by some companies to announce disclosure dates. Inaccuracy, ambiguity and incomplete information related to financial statements, projects, acquisitions, and corporate activities that may impact the stock price in the market are among other issues stand in the way of transparency, he said.
The meeting was attended by representatives from the Qatar Financial Markets Authority (QFMA), Qatar Central Securities Depository (QCSD) and the listed companies.
Opening the meeting, Qatar Exchange CEO Rashid bin Ali Al Mansoori stressed the importance of disclosure and transparency in the financial market. He said listed companies in Qatar have made great strides in the implementation of international standards in terms of disclosure and transparency. This has made great impact on the companies' success in gaining investors' confidence and ensure healthy, transparent and fair trading environment.
"What matters to investors primarily is the access to information, and the best way to do that is to invest in modern technology through developing the websites and social media outlets of listed companies in order to achieve their corporate objectives in the long term and enhance confidence in the financial market among the various categories of investors," Al Mansoori stated.
Nasser Abdul Ghani, QE's Market and Operations Control Director, also briefed the participants on the best disclosure practices and stated that the aim of the meeting is to promote cooperation and coordination between communication officers of the listed companies and the representatives of QFMA, QCSD, and QE for the best interest of investors.
The best way to reach this objective is through exchanging views and listening to suggestions from the participants in order to overcome the difficulties encountered in the application of the best disclosure practices in the market," Abdul Ghani added.
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