The United Arab Emirates (UAE) and Qatar will join the Arab Stock Data Base (ASDB), created by the Arab Monetary Fund (AMF). The Abu Dhabi, Dubai and Doha Securities Markets have added close to $21.8 billion to ASDB’s total market capitalization, a 12 percent increase.
The new move increased the number of listed companies on the database to 1,752 entities. The other nine bourses listed on ASDB are Saudi Arabia, Bahrain, Oman, Kuwait, Lebanon, Tunisia, Egypt, Jordan and Morocco.
ASDB was created seven years ago as part of AMF’s program to support Arab economies, promote regional investment and achieve integration. The Arab League created AMF in 1975 with a paid-up capital of around $500 million with the aim of stimulating regional economies through soft-term loans and technical assistance. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
