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Law No. 14 of 1995Establishment of the Doha Securities Market (Qatar Exchange)

Law Summary Record Type: LawNumber: 14Date: 03/07/1995 Corresponding to 05/02/1416 HijriNumber of Articles: 26Status: In force

Official Gazette :Issue: 10Offcial Journal Issue Publication Date: 01/01/1995 Corresponding to 30/07/1415 HijriPage from: 501

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Establishment and Objectives of the Market

2 Article

A securities market entitled the “Doha Securities Market.”(DSM) shall be established for the regulation and supervision of trading in securities. The DSM shall have a juristic independent personality, shall have the capacity to dispose and manage property, and shall have the right to litigate. The DSM head office shall be in the City of Doha and shall be under the supervision of the Minister.

3 Article

The specific objectives of the Market shall be as follows:

Give opportunities for investment of savings and funds in securities to serve the national economy;
Conduct studies, collect information and statistics on traded securities and publish relevant reports;
Enhance communications and links with foreign financial markets as well as making use of the methods used in such markets to help developing the Market;
Establish the rules of professional conduct, self-monitoring, and discipline among brokers and workers in securities as well as encouragement of qualifying new securities brokers and other professionals working in the Market, with a view of developing their scientific and practical competence.

4 Article

Trading in the Market shall be confined to the securities stipulated in Article 1 herein. The Committee may license trading in other Qatari securities. Where public interest requires, securities from the States of the Gulf Cooperation Council (GCC) or other Arab or foreign States may be listed in the Market by a resolution of the Council of Ministers at the proposal of the Minister. The bylaws of the Market shall stipulate rules and provisions governing the registration and enlisting of securities.

5 Article

Trading in enlisted and approved securities in the Market shall be in accordance with the terms and conditions of the Committee. Trading shall take place inside the Market Hall, and through a broker registered therewith. Where some transactions on such securities take place outside the market, such transactions shall be pursuant to the controls and standards specified in the bylaw and the instructions of the Committee.

In all cases, all transactions in such securities, when transferring their ownership, shall be registered in the Market records. The company trading its securities outside the Market shall notify the Committee of such transactions in a timely manner.
Dealing in the Market shall be based on prompt delivery of securities, whether buying or selling. The value thereof shall be made by immediate cash.
Any transaction in securities contrary to the provisions of the Article herein shall be null and void.

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