QCSD Will Commence Operation as of January 2, 2014

29/12/2013 11:16 AST

Qatar Central Securities Depository (QCSD), has been established as a Qatari private shareholding company, and will carry out its business as of January 2, 2013. QCSD will perform all the activities and functions currently carried out by CRD at QE.

QCSD is owned by both Qatar Central Bank (QCB) and QE. It has obtained all necessary licenses from the competent authorities in Qatar, including Qatar Financial Markets Authority (QFMA). QCSD will operate from its head office, which is located at Qatar Credit Bureau Building near Al Muntazah Intersection, C Ring Road.

QCSD’s functions include safekeeping, management, ownership, clearing and settlement of securities and other financial instruments. It also provides related financial services, including registration, acceptance and transfer of government bonds and treasury bills (T-bills). Moreover, it offers additional services including DvP implementation (Delivery vs. Payment), Securities Lending and Borrowing settlement, management and follow-up of the non-Qatari shareholders’ equity, registration and authorization of Exchange-Traded Funds (ETFs) as well as participation in Initial Public Offering (IPOs).

Register of all current shareholders recorded in CRD at QE will be transferred to QCSD. QE systems will be linked to QCSD systems to enforce transfer of listed companies’ shares at QE between sellers and buyers. QCSD will also process all off-market transfers, either by inheritance or by court order. QCSD will be responsible for pledging and unpledging shares besides other operations that are currently undertaken by CRD at QE.

In addition, all corporate actions applied to the shareholders’ registry will be conducted only by the company that has all potentials required to facilitate the affairs of the shareholders and customers through the customer service lounge and QCSD website.

Press Release