Since 2007 the task of overseeing the development of the increasingly complex exchange has fallen to the Qatar Financial Markets Authority (QFMA). However, in July 2012 the government announced that the Qatar Central Bank (QCB) would now oversee the QFMA, though the latter would retain its financial and administrative independence – a decision widely interpreted to be part of a longer-term plan to combine various financial market regulators, including the QFMA, the banking regulatory authority of the QCB and the Qatar Financial Centre Authority. For now, the QFMA remains an independent regulator operating under the QFMA Law of 2012, and listed companies will continue to be subject to its supervision. It has not slowed in its efforts to further reform both the exchange and its processes (see analysis).
