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Governance and Santiago Principles Take Center Stage in Doha

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Doha, Qatar’s capital city ripe with petrol wealth and ambitions of diversification whether it be tourism, housing, entertainment, insurance or retail, is home to a massive sovereign wealth fund called the Qatar Investment Authority (QIA). Under the previous and current Qatari emirs, gargantuan developments like The Pearl, Katara and infrastructure related to the upcoming 2022 FIFA World Cup, has enhanced Qatar’s image to international businesses.

In November, Doha hosted the IFSWF’s sixth conference. The IFSWF focuses on the Santiago Principles, a set of guidelines drafted by sovereign funds and the International Monetary Fund (IMF), to address concerns that sovereign funds are not influenced by politics, but rather have a commercial basis when it comes to investing. SWFI’s President Michael Maduell attended the event. On November 20, members of the IFSWF signed “The Doha Agreement,” to form the IFSWF as an independent entity from the IMF. In addition, the IFSWF has determined that central banks will not become IFSWF members.

Qatar PM Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Speaking at IFSWF Doha Conference - November 20, 2014

Qatar PM Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Speaking at IFSWF Doha Conference – November 20, 2014

Qatar’s Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani gave a speech, talking about developments in Qatar. The Qatar Investment Authority’s CEO Ahmad Al-Sayed, who ranked #25 on the Public Investor 100 for 2014, said the QIA’s investment policies will not be altered by the recent decline in global oil prices. In addition, Al-Sayed said the QIA has long-term plans to invest US$ 15 to US$ 20 billion in Asia over the next few years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Saudi and Other Gulf Country Bonds to Join JPMorgan Emerging Market Bond Index

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In a boost for Gulf-based debt, JPMorgan is adding their debt compositions to two influential emerging market bond indexes. These emerging market indexes are the most widely tracked among asset managers in the industry. Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, and Qatar are being added to the J.P. Morgan EMBI Global Diversified Index and the EMBI Global, starting January 31, 2019. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Nigeria Reveals Plan for New National Micro-Finance Bank

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The Central Bank of Nigeria has announced plans for a new national micro-finance bank. The proposed bank will promote small and medium enterprises.

CBN’s governor, Godwin Emefiele, noted that the bank will partner with the Bankers Committee, the Nigeria Incentive-based Risk Sharing System for Agricultural Lending, and the Nigerian Postal Service. Emefiele laid out the vision for the bank in his remarks in Abuja: “The bank will serve as an efficient channel for the disbursement and monitoring of key intervention funds by the CBN.” Nigeria’s micro-finance bank will be focused on meeting financial inclusion targets, promoting financial stability within the country, and fostering widespread economic growth.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mergermarket Gets Ready to be Sold

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Private equity firm BC Partners hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to advise on the sales of Acuris. Acuris is a collection of financial news and data sites, which includes Mergermarket, Dealreporter, and Debtwire. In 2017, BC Partners sold around a 30% stake in GIC Private Limited.

Before the rebranding to Acuris, Mergermarket was part of The Financial Times Group until 2013 when it was sold off to BC Partners.

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