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Financial Markets Development In Gcc Essay

658 words - 3 pages

A financial market is a market in which people and companies can trade financial assets such as stocks, bonds, currencies, commodities and so on. The basic three items sold in a financial market are: stocks, bonds and exchange currencies. Some of the biggest financial markets around the world are Hong Kong, United States and the United Kingdom.

Economically, the GCC countries which consist of six countries: UAE, Oman, Saudi Arabia, Kuwait, Bahrain and Qatar; have been mainly dependent on oil and petroleum trading. Although finance in the GCC has grown to be a vibrant industry, but the GCC financial markets remain small and behind their potential globally. Since the beginning of the last ...view middle of the document...

The Oman Stock Market, Muscat Securities Market (MSM ), was established on 21 June 1988 to regulate the securities market and to set up an infrastructure for the Sultanate's financial sector. There are 121 companies in the market and they are divided into 3 main sectors: Financial, Industrial and Services. The sub sectors of the market are: Banking, Insurance, Finance, Investment, Food, Cement, Engineering, Textiles, Mining, Constructions Materials Support, Paper & Glass, Chemicals, Pharmaceutical, Electrical, Telecommunications, Tourism, Logistics, Oil & Gas, Education, Energy, Diversified Commercial Services, Health Care and Real Estate. The Banking sector is the most efficient and the larger sector of the MSM.

The Qatar Stock Market, Doha Securities Market (DSM ), was founded in 1997. In mid 2009, the market changed into a shareholding company and was named the Qatar Exchange. The QE Index comprises 20 stocks. NYSE Euronext own 25% of the QE and there are 42 listed companies in the QE. The sectors of the market are: Banks & Financial...

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