The document compares the capital markets of Qatar to those of India, the US, Saudi Arabia, and Singapore. It benchmarks these markets across six areas: instruments/completeness, size, governance/transparency, efficiency, liquidity, and volatility. Based on the findings, it recommends that Qatar introduce a debt market, study fluctuations in market size, cautiously introduce derivatives, improve disclosure/transparency, explore dual listings with Saudi Arabia, and focus on liquidity/transparency to improve efficiency.