Spectacular capital market growth in Middle East: HSBC event
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
The Middle East has experienced a period of significant development in its capital markets due to ambitious reforms, according to Antoine Maurel, the Regional Head of Markets and Securities Services for Central & Eastern Europe, Middle East and Africa (CEEMEA) at HSBC.
Following HSBC's flagship event for regulators, exchanges, and institutional in Gulf Cooperation Council (GCC) market plus Egypt, Maurel stated that unprecedented regulatory reform combined with clear government ambition had created the right conditions for international investors.
Maurel added that with wealthy, ambitious and reforming governments, plus the backing of local investors and lower inflation than the rest of the world, this region continues to attract foreign investment, develop capital markets and deliver spectacular growth.
HSBC's two-day annual forum is now in its sixth year and comprises one day of expert panel discussions and one day for delegates to meet with exchanges and regulators, designed to promote collaboration and understanding on the most important trends in capital markets.
The forum highlighted the regional boom in Initial Public Offerings (IPOs) for 2022, which saw the Middle East emerge as a leading global center for capital raising.
Issuers in the region raised $23.5 billion of the $91 billion raised on equity markets worldwide in 2022, with 34 of the 48 IPOs in the GCC debuting on Saudi Arabia's Tadawul and Nomu markets.
Abdulfattah Sharaf, Chief Executive of HSBC UAE and Head of International, HSBC Bank Middle East Limited, emphasized that connecting their clients to the huge opportunities in the region's financial markets is a key priority for them.
Meanwhile, Chris Russell, Chief Executive Officer of HSBC Bahrain, thanked Central Bank of Bahrain, Bahrain Bourse, and Bahrain Clear for their participation in Securities Services Regional Forum.
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