Draft Amendment To Governance Code Announced By QFMA
December 28, 2022
The Qatar Financial Markets Authority (“QFMA”) announced the introduction of a draft amendment to the Governance Code for Companies Listed On The Main Market (“Governance Code”). The draft amendment to the Governance Code is meant to align the QFMA’s policies with best international practices and standards.
The draft amendment is intended to maintain confidence in transactions made in financial markets, to protect owners and dealers of securities, to ensure market stability, to reduce transactional risks, and to strengthen the QFMA’s regulatory, supervisory, and oversight roles. According to the QFMA, the Governance Code is an essential management and control system for companies in general, and for shareholding companies and all other legal entities operating in the local financial market.
The draft amendment to the Governance Code has been posted on the QFMA official website for public consultation, and may be found here: www.qfma.org.qa