Lombard loans on the QSE.
Private credit against Qatar Stock Exchange-listed shares — pledged, not sold.
A Lombard loan against QSE-listed shares is credit secured by a pledge of equity listed on the Qatar Stock Exchange. The holder pledges the shares, draws cash against a fraction of their market value, retains ownership and dividends subject to structuring, and recovers the position on repayment.
- Facilities are arranged against equity listed on the Qatar Stock Exchange (QSE), Doha.
- The pledge preserves ownership, dividends, and the upside for the holder.
- Loan-to-value is set per line; funded in QAR or cross-currency.
- Structured under QFMA, with disclosure from 5%.
The venue
Qatar's principal equity venue, with substantial weighting to financial services, industrials, and energy-adjacent issuers. Foreign-ownership caps and segment-by-segment access rules require careful structuring for institutional collateralisation.
Regulator and disclosure
The Qatar Stock Exchange operates under Qatar Financial Markets Authority (QFMA). QFMA disclosure rules: holdings notifications required at 5% and at subsequent 1% changes. A pledge over a substantial line is arranged with that reporting regime in view, so that the facility is both discreet and compliant, and so that positions near a control or takeover threshold are not disturbed.
Structuring a facility here
Lombard facilities against QSE-listed shares are typically arranged for a tenor of twelve to thirty-six months, funded in QAR or another currency on a cross-currency basis, with the collateral held by a qualified custodian under bankruptcy-remote arrangements. Non-recourse, limited-recourse, and full-recourse structures are available; the choice interacts with the loan-to-value and the spread.
| Exchange | Qatar Stock Exchange (QSE) |
|---|---|
| City · Country | Doha · Qatar |
| Regulator | Qatar Financial Markets Authority (QFMA) |
| Disclosure | From 5% |
| Principal indices | QE Index, QE Al Rayan Islamic Index |
| Segments | Main Market; Venture Market |
| Currency · Tenor | QAR · 12–36 months |
| Recourse | Non-recourse / limited-recourse / full-recourse |
Financing a position listed on the QSE?
Request terms →See also the country overview: Lombard loans in Qatar.
Other exchanges in the region.
On this market, specifically.
Liquidity and the index
The Qatar Stock Exchange is benchmarked by the QE Index and the QE Al Rayan Islamic Index, with substantial weighting to financial services, industrials, and energy-adjacent issuers. Liquidity concentrates in those larger names, so for a substantial line the depth and free float of the specific issuer — in a market where state and strategic holdings are common — are the key read when sizing a pledge. Smaller names sit on the Venture Market and are assessed more selectively. Free float, rather than aggregate turnover, generally frames how a Lombard loan is calibrated against a QSE holding.
Structuring notes
Two features shape a pledge on the QSE. Foreign-ownership ceilings apply issuer by issuer and govern how much of a line a non-resident client may hold and pledge; and access differs across the market’s segments, so eligibility is confirmed name by name. Part of the market follows Islamic-index conventions, which can inform how a facility is framed. Settlement runs through the Qatari infrastructure, with the pledged shares held by a qualified custodian so ownership is preserved. The QFMA notification regime — at 5% and each subsequent 1% — is respected, and the Lombard credit can be funded in QAR or on a cross-currency basis.