Doha – Mubasher: Doha Bank is in the final phase of launching its exchange-traded fund (ETF) with the Qatar Stock Exchange (QSE), titled QE Index ETF (QETF), the bank announced at a forum on Tuesday.

“Doha Bank has been working closely with the Listing Committee and Qatar [Stock] Exchange and local regulators in driving the new listing towards growing the investment platform in Qatar via new offerings,” CEO of Doha Bank Raghavan Seetharaman stated at the Annual Investment Forum 2017, organised by the QSE and HSBC.

QETF will replicate the Qatar Index largest 20 companies with regard to market capitalisation and liquid listings in terms of performance, but not of fees.

“The fees or ‘Total Expense Ratio’ to be 0.50%; one of the lowest in Emerging Markets offerings. The fund will pay an annual dividend, net of fees, similar to the index; which currently carries a yield of 3.80%,” the CEO added.

Seetharaman also gave insights regarding the Qatari economy, expecting it to grow 3.4% in 2017, as the country follows its non-hydrocarbon diversification model and prudent fiscal management amid low oil prices.

Highlighting the focus on health, education, and infrastructure, he stated: “In Qatar Budget 2017, the total allocation for key sectors such as health, education, and infrastructure was nearly 44% of the total expenditure, out of which 12.3% is for health, 10.4% is for education, and 21.2% is for the infrastructure segment, respectively.”

Qatar is currently witnessing mega infrastructure projects for hosting the FIFA World Cup 2022, and the government is trying to increase non-oil revenues, focusing on indirect taxes and levies, according to a statement by Doha Bank.

The GCC country is also planning to introduce a law governing public-private partnerships (PPP) in 2017, as the financial sector plays a prominent role in achieving Qatar‘s Vision 2030.

“Measures taken by the Qatar central bank and the government have led to a robust growth in the financial industry, even during crisis,” the statement added.

Doha Bank’s stock closed at QAR 3.04 after dropping 0.65%, as 85,860 shares were traded at a liquidity of QAR 2.61 million.