DOHA: Doha Bank has announced its plans to launch an Exchange Traded Fund (ETF) on Qatar Exchange (QE). Amwal and The Group Securities are set to act as Fund Manager and Liquidity Provider respectively. A signing ceremony to mark the appointment of Amwal as Fund Manager and the licencing of the index benchmark from QE was held yesterday in the presence of the Doha Bank Group CEO Dr R Seetharaman, QE CEO Rashid Al Mansoori and Amwal CEO Fahmi Alghussein. On the plans to launch the product, Seetharaman said: “The Qatar Index ETF, which is pending regulatory approvals, will track the QE Index. Once approved by QFMA, the ETF product would list on Qatar Stock Exchange and provide investors with exposure to the index benchmark with a single trade.” “Doha Bank is delighted to have already appointed and signed with The Group Securities who are the leading brokerage firm in Qatar, as the Liquidity Provider (LP) to the ETF. The Group Securities will provide regular bid and ask prices and interact with the fund manager to manage the supply of ETF units on Qatar Stock Exchange. Amwal Asset Management successful track record in Qatar since 1998, will ensure the ETF passively managed strategy is in line with global ETF standards”. Rashid Al Mansoori welcomed the regulatory filing and congratulated the partners on being the first to licence QE index for use as an ETF benchmark. “The Exchange Traded Fund, once approved by regulators, enables investors to trade the index as a single security; it complements the underlying 20 shares and provides an opportunity to look at alternative trading strategies. The growth in ETFs internationally is unbridled and we have an exciting pipeline of ETFs being developed here in Qatar. The partners here today should be commended for taking these important steps towards listing this new segment on Qatar Stock Exchange.” Commenting on this event, Sheikha Hanadi Nasser bin Khaled Al Thani, Founder and Chairperson of Amwal, said “Since its inception, Amwal has established new benchmarks through pioneering initiatives in investment and asset management within Qatar and the wider Mena region. Our well researched and disciplined approach has helped position Amwal as an organisation committed to financial excellence. We are excited to collaborate with Doha Bank and The Group on this new initiative.