15 March 2023

The Middle East’s ‘spectacular’ period of capital market development

Ambitious reforms across the Middle East in recent years have accelerated the growth of capital markets and delivered a ‘spectacular’ period of development for the region, according to Antoine Maurel, HSBC’s Regional Head of Markets and Securities Services for Central & Eastern Europe, Middle East and Africa (CEEMEA).

Speaking following the conclusion of HSBC’s flagship event for regulators, exchanges and institutional investors which attracted representation from every Gulf Cooperation Council (GCC) market plus Egypt, Maurel said unprecedented regulatory reform had combined with clear government ambition to create the right conditions for international investors.

“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,” he said.

Regional event with international focus

Now in its sixth year, HSBC’s two-day annual forum is the only such securities services event in the region organised by a custodian bank. Comprising one day of expert panel discussions and one day for delegates to meet with exchanges and regulators, the event is designed to promote collaboration and understanding on the most important trends in capital markets.

One focus of the forum was the regional boom in Initial Public Offerings (IPOs) for 2022 which saw the region emerge as a leading global centre for capital raising. Issuers in the Middle East 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, said: “Connecting our clients to the huge opportunities in the region’s financial markets is a key priority for us as we build on our track record as the number one bank on the region’s debt and equity capital markets league tables – a position we have held in each of the past two years as growth in GCC capital markets activity has accelerated.”

Antoine Maurel, HSBC’s Regional Head of Markets and Securities Services for Central & Eastern Europe, Middle East and Africa (CEEMEA)

Note to editors

HSBC in the MENAT region

HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$71bn as at 31 December 2022.


About HSBC Markets and Securities Services Forum

Now in its sixth year, the HSBC Markets and Securities Forum is the only event of its kind with one of the largest private sector gatherings of regulators, exchanges and investors in the region.