News Column

Al Khaliji picks Closir for new technology aimed at engaging shareholders

July 30, 2014

Al Khaliji Commercial Bank QSC has announced its decision to associate with financial technology company Closir.

Al Khaliji has sought the solutions of the London and New York-based IR technology company Closir to leverage best practice disclosure and facilitate connection with institutional investors. The new relationship comes after Qatar, the third largest equity market in the GCC, was upgraded to the MSCI Emerging Market Index from the MSCI Frontier Markets in May 2014.The new classification is expected to result in additional inflows of estimated $500 million as funds that track the index take positions in the Qatari market.

Dr Joe Maalouf, Head of Investor Relations at Al Khaliji, said, "Effective stakeholder engagement is recognised across the wider public sector as a vital part of ensuring delivery of our business and making the company as accessible as possible to shareholders and investors has always been a priority for the bank. Closir's technology will provide our investors with a new technique to stay updated and connected with the company, in line with the best global IR practices encouraged by the platform."

Closir Managing Partner Andre Powers, said: "We are seeing record numbers of institutional investors with global mandates examining investment opportunities in Middle East and specifically Qatar."

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Source: CPI Financial

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