Posted on July 27, 2014

Al Khalij Commercial Bank (al khaliji) Q.S.C, is proud to announce a relationship with Closir, becoming the first Qatari bank to enhance its shareholder engagement efforts with the leading investor relations platform for listed companies and global institutional investors.

Renowned as a pioneer company regarding investor relations in the Middle East, 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 $500m as funds that track the index take positions in the Qatari market.

Joe Maalouf, al khaliji 1 [].JPGDr. Joe Maalouf, Head of Investor Relations at Al Khaliji, said, “Effective stakeholder engagement is recognized 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," he added.

For his part, Closir Managing Partner Andre Powers from New, said: “We are seeing record numbers of institutional investors with global mandates examining investment opportunities in Middle East and specifically Qatar.” “We are very excited to have Al Khaliji join our platform, which is designed to give those investors the tools to make informed decisions. Al Khaliji is a leader in using technology for their banking business and is now bringing technology to the company’s investor relations program.” 

Closir is the leading financial technology company behind an online investor relations (IR) platform for corporates to discover, connect and engage with each other on a global scale. Closir allows institutional investors to follow companies and receive a highly customizable stream of data, IR activities and meeting requests coming directly from companies. It also helps corporate IR teams present a compelling equity story by providing a best in class template for disclosure, thus helping companies connect and meeting with the investors.

Al khaliji has been an active participant in the Investor Relations Society's activities in Qatar since its inception. The bank had also sponsored and participated in the 4th Annual IR Conference held in Doha in May 2013 and organized by MEIRS in partnership with the Qatar Exchange, where important deliberations took place.