Qatar Financial Centre

The Qatar Financial Centre (QFC) Authority is a fully onshore global business and financial centre located in Doha, providing legal and business platform for firms to capitalize on regional opportunities. It was established in 2005. As of September 2015, the CEO is Yousuf Al-Jaida.^[1]

The Qatar Financial Centre provides financial institutions with a world class financial services platform situated in an economy founded on the development of its hydrocarbons resources. It has been created with a long-term perspective to support the development of

The Qatar Financial Centre (QFC)

Industry	Banking, Financial Services
Founded	2005
Headquarters	Doha, Qatar
Key people	HE Ali Shareef Al Emadi, Chairman and Minister of Finance Yousuf Mohamed Al-Jaida, Chief executive officer
Website	http://qfc.qa

Qatar and the wider region, develop local and regional markets, and strengthen the links between the energy based economies and global financial markets.

Background

The QFC Authority is the commercial and strategic arm of the Qatar Financial Centre (“QFC”). The QFC also consists of an independent financial regulator, the QFC Regulatory Authority, and an independent judiciary comprising a Civil and Commercial Court and a Regulatory Tribunal. The QFC Authority is responsible for leading the expansion of Qatar’s financial services sector and for developing relationships with the regional and global financial community. In February 2010 the QFC Authority unveiled a new strategy focusing on the creation of a global business hub for three core markets - Asset Management, Reinsurance and Captive Insurance.

In 2015, the QFC was awarded the accolade of GCC Financial Centre of the Year at the Middle East Capital Summit and Awards.^[2]

The QFC Authority manages and maintains the QFC legal and tax environment, and licenses firms to conduct business in or from the QFC. It also develops relationships with the global financial community and other key institutions, both within and outside Qatar, helping to grow the country’s private sector.

Benefits of setting up

Legal and judicial framework based on English common law
Independent court, regulatory tribunal and dispute-resolution centre
100% foreign ownership
100% repatriation of profits
10% corporate tax on locally-sourced profits
No restrictions on the currency used for trading
Quick and easy set-up process
Qatar’s extensive double-taxation agreements network

Who can set up?

Setting up business in the Qatar Financial Centre is a clear and streamlined process. specialist teams, including a relationship manager, are there to support individuals and companies as they apply, register, get licensed and start business.

Non-Financial Firms	Professional and Business Services	LLCG(s) and Foundations	Others
Non-Financial Firms	Audit and Accounting Consulting Human Resources Risk Management Marketing and Brand Management Media and PR IT Consulting Project Management Architectural Services Engineering and Environmental Consulting Services Research	Business councils Professional associations	Corporate Headquarters, Management Offices and Treasury Functions Special Purpose Companies Holding Companies Single Family Offices Trusts and Trust Services Corporate Services
Financial Services Firms	Banking	Asset Management	Insurance/Reinsurance	Others
Financial Services Firms	Corporate/Wholesale Banking Investment Banking Private Banking	Retail Schemes (UCITS type) Qualified Investor Schemes Private Placement Schemes	Captive Insurance (Re) Insurance Brokerage Islamic Finance	Investment Advice & Investment Services Fiduciary Businesses

Board of directors

HE Ali Shareef Al-Emadi, Chairman and Minister of Finance
HE Sheikh Ahmed Bin Jassim Al Thani, Deputy Chairman and Minister of Economy and Commerce
Yousuf Mohamed Al-Jaida, Chief Executive Officer
Nasser Al-Taweel, Chief Legal Officer and Board Secretary
Rashid Ali Al-Mansoori, Board Member
Ahmad Abdulla Ahmad Jassim Al-Jamal, Board Member
Dr Arnab Banerji, Board Member
Bob Wigley, Board Member

Management team

Yousuf Mohamed Al-Jaida, Chief Executive Officer
Nasser Al-Taweel, Chief Legal Officer and Board Secretary
Kamal Nagi, Chief Strategy and Business Development Officer
Raed Al-Emadi, Chief Commercial Officer
Hamed Al-Saadi, Chief Financial and Tax Officer
Fahad Zainal, Chief Administrative Officer
Yousef Fakhroo, Chief Marketing and Corporate Communications Officer

References

↑ "QFC establishes independent Employment Standards Office". The Peninsula Qatar. 19 September 2015. Retrieved 20 September 2015.
↑ "Qatar Financial Centre Wins Gcc Financial Centre Of The Year At Middle East Capital Markets Summit And Awards 2015". www.qfc.qa. Retrieved 2016-07-17.

External links

This article is issued from Wikipedia - version of the 7/28/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.