Qatar stock exchange is in talks with authorities to allow foreign ownership in the bourse as it eyes an emerging market tag from index compiler MSCI, its chief executive said on Wednesday. Allowing foreign ownership in the Gulf state's bourse was a key criteria set by influential index complier MSCI in its review of the country for a potential upgrade to an emerging market status. MSCI's review is pending June, 2011.
"We are discussing it with the relevant authorities," Chief Executive Andre Went told reporters. Last week, the bourse, under review by MSCI for the last two years, said effective April 11 it will switch to a "delivery versus payment" (DvP) and will seek to implement reforms in the equity markets throughout the year.