Qatar Stock Exchange Launches XBRL Disclosure Platform
This week the Qatar Stock Exchange (QSE) have taken the next step on the road to joining the ever-increasing number of jurisdictions mandating the XBRL standard with the launch of the Q-Disclosure platform.
The XBRL standard is due to become mandatory for financial statements and non-financial disclosures for all listed companies in Qatar in the third quarter of 2020.
The Q-Disclosure platform is a web-based integrated solution, available in Arabic and English. It is fully aligned with the IFRS standards and also includes sector specific taxonomies for banks, financial services, insurance and real estate.
“QSE intends that over time our listed companies will meet the growing need for investor-friendly data that is machine-readable to ensure our market provides information on an equivalent basis to leading global exchanges,” its chief executive Rashid bin Ali al-Mansoor said at the first XBRL training session for listed firms.
The adoption of the XBRL Standard and the Q-Disclosure platform should improve the transparency, utility and comparability of financial information, making Qatar markets more appealing for both domestic and international investors.
Read more here.
