SME equity market ready this year, says Nasdaq Dubai head

The Middle East’s first equity market for small and medium-sized businesses could be ready as early as this year, Arabian Business online said Thursday, quoting a Nasdaq Dubai acting CEO Hamid Ali.

An advisory group working to establish the regulatory model and trading framework for the new exchange is set to be completed in the next few months, Ali said, adding that regulator approval will follow.

“Our aim is to be able to launch something this year that gives easier access for smaller companies to come to an exchange,” he was quoted as saying.

About 72,000 SMEs generate 40 percent of Dubai’s gross domestic product, according to NASDAQ Dubai.

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