Sunday, 31 October 2021 – Doha, Qatar –The Qatar Financial Markets Authority (“QFMA”) and the Qatar Financial Centre Regulatory Authority (“QFCRA”) announced that they participated in World Investor Week (“WIW”), which took place in Qatar during October 2021.
WIW is a global campaign promoted by the International Organization of Securities Commissions (“IOSCO”) and supported by regulatory authorities in over eighty countries and leading organisations such as the G20 and the World Bank. The QFMA and QFCRA are both members of IOSCO.
The objective of WIW is to highlight the importance of investor education and protection, and to foster learning opportunities for individuals of all age groups. The two key messages for the IOSCO WIW campaign this year were on sustainable finance and frauds and scams prevention.
To support the objective of the WIW campaign, and given the ongoing Covid-19 precautions, outreach was carried out through digital channels. The QFMA and the QFCRA held online webinars for a number of secondary schools, to increase their knowledge of investing and saving. Additionally, the QFCRA participated with a phone-in segment on Qatar TV’s popular “Hayatna” show and engaged with the general public through social media platforms with daily posts and quizzes.
In addition, QFMA in cooperation with the Union of Arab Securities Authorities, will hold an on-line training program on “Managing Operational Risk in Financial Institutions” on 9-11 November 2021. The training program sheds light on the business risks of financial institutions, the practical techniques required to investigate operational and financial risk incidents, and how to manage these risks in the long term.
This initiative falls under Qatar’s Second Strategic Plan for Financial Sector Regulation 2017 – 2022, of ensuring consumer and investor protection.
Martin Moloney, Secretary General of IOSCO, said, “Retail investor protection cuts across many of the issues covered by IOSCO work streams. It is a cornerstone of all IOSCO’s work that our Committee on Retail Investors work continuously to promote the enhancement of financial education and retail investor protection.”
Mr Nasser Al Shaibi, Chief Executive Officer of the QFMA, said “The QFMA participation in the World Investor Week organized by the IOSCO is an integral part of its continuous efforts and mandate to raise the levels of investment awareness among investors in Qatari Capital Market Sector, and part of QFMA’s commitment to cooperate in the fields of education and protection of investors with other IOSCO members, and join their efforts and initiatives in order to advance their capital markets and apply international standards, which is part of the QFMA mission and vision.”
Mr Michael G. Ryan, Chief Executive Officer of the QFCRA, said, “We are proud to continue our annual participation in World Investor Week. Promoting consumer protection is a key objective of the QFCRA. Engaging with the youth and the public is essential to provide customers with the knowledge and information they need to make informed financial decisions.”
The dedicated campaign website, www.worldinvestorweek.org, provides details on the various participating authorities and the international organisations supporting this effort.