Qatar Financial Centre yesterday said the 23 registered law firms within the financial centre have “played a vital role” in developing the market for legal advice in Qatar, after satisfying many conditions and strict criteria to receive a QFC licence “as stipulated by QFC Law, Regulations and Rules”.
“In accordance with the QFC Authority’s commitment to open discussion we have taken the initiative to meet with the Qatar Lawyers’ Association (QLA) to address a number of concerns and to address any misconceptions regarding QFC Law and QFC licensed law firms. Our most recent meeting cemented our positive relationship with the QLA and we look forward to continuing our discussions and dialogue with them on a number of important matters,” QFC said in a release.
QFC said it “believes in the strength and potential of the legal market in Qatar. We have continually taken a leadership position on meeting the future needs of Qatar’s growing legal, financial and business landscape.
“After careful consideration of the local legal market, the QFC, on its own volition, has taken a policy decision that there are sufficient QFC law firms to meet the current market demands. This position is subject to some exception and may change in the future depending on the market and other factors. Our focus continues to be supporting Qatar’s economic diversification and we will continue to engage with all relevant groups.”
