Doha, 19 January, 2025– Qatar Central Bank (QCB) has launched the first phase of its Primary Dealer framework in collaboration with Bloomberg, marking a key milestone in the development of Qatar’s capital markets. This initiative, aligned with QCB’s Third Financial Sector Strategy, is set to modernize the market infrastructure, enhancing efficiency, transparency, and participation in Qatar’s financial markets. This effort is a key component of Qatar’s National Vision 2030, aimed at diversifying the economy and increasing its attractiveness for foreign direct investment.

QCB has adopted Bloomberg’s Auction System to streamline its local currency debt issuance and liquidity management workflows. Integrated with the Bloomberg Terminal, this system supports the development of QCB’s debt issuance process, marking a significant milestone with the successful conclusion of its first auction on December 26, 2024.

In addition to the Auction System, QCB has also implemented Bloomberg AIM, a leading order and investment management solution that delivers multi-asset solutions and provides comprehensive front-to-back workflows. This integration enhances QCB’s ability to manage the entire trade lifecycle with advanced analytics to optimize fiscal strategy and improve operational oversight.

Sheikh Ahmed bin Khalid Al-Thani, Assistant Governor of Financial Market Instruments and Payment Systems at Qatar Central Bank, emphasized the strategic importance of this initiative: “QCB is committed to enhancing Qatar’s market infrastructure to increase its attractiveness to investors. The Primary Dealer framework supports the issuance and distribution of government bonds, including Islamic sukuk, and is a crucial part of our broader strategic plan. The development is a testament to our dedication to creating a modern and transparent financial market, reinforcing Qatar’s position as a leading financial hub in the region. This first phase of the Primary Dealer framework rollout ensures a structured and effective approach to enhancing market infrastructure and boosting investor participation and confidence.”

“We are delighted to collaborate with the Qatar Central Bank as it strengthens its financial market infrastructure,” said Nicholas Bean, Bloomberg’s Global Head of Electronic Trading Solutions. “The adoption of our solutions will enable QCB to enhance its operations, improve transparency, and strengthen connectivity with the global financial community, further contributing to the growth of Qatar’s financial market.”

The adoption of Bloomberg’s Auction System allows local banks to bid for QCB-issued securities directly through the Bloomberg Terminal, creating a streamlined and efficient process. This system also supports secondary market trading, enabling banks to offer these securities to clients and further strengthening Qatar’s financial ecosystem.

QCB’s phased implementation of the Primary Dealer framework represents a key initiative to strengthen Qatar’s financial infrastructure. The first phase focused on integrating the Bloomberg Auction System to enhance the local currency debt issuance process and workflows. Future phases will focus on enabling cross-border access, scalability, and deepening liquidity in secondary markets.

The Primary Dealer framework is designed to increase market efficiency, liquidity, and investor confidence, supporting the issuance and distribution of government securities, including Islamic sukuk, while promoting greater market stability and participation. These efforts underscore QCB’s commitment to fostering a dynamic and transparent financial ecosystem.