The Qatar Financial Centre (QFC) Regulatory Authority and Qatar Chamber have recently signed a Memorandum of Understanding (MoU) for sharing information at a ceremony held in Doha.
The MoU was signed by QFC Regulatory Authority CEO Michael G Ryan and Qatar Chamber director general Saleh bin Hamad al-Sharqi.
The MoU establishes a framework for co-operation under which QFC Regulatory Authority and Qatar Chamber will provide each other with assistance for projects of mutual interest. They will also join hands in exchanging information that will help in enhancing their roles in serving the national economy and the private sector.
Ryan said: “The QFC Regulatory Authority is keen to grow and expand its co-operation with other Qatari organisations and work together in achieving common goals.”
For his part, al-Sharqi said: “Qatar Chamber is pleased to join hands with the QFC Regulatory Authority, which plays a key role in enhancing the business environment in the country and providing a competitive platform for firms to expand to Qatar.”
Al-Sharqi also said the agreement is “an important step” to boost co-operation between two influential entities on Qatar’s economy. He noted that the MoU will help both sides transfer information between them to the advantage of the national economy and the private sector.
The QFC Regulatory Authority is an independent regulatory body established in 2005 by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorise, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modelled closely on that used in major financial centres.
Qatar Chamber was established in 1963 as one of the oldest chambers of commerce among the GCC countries.
The chamber represents and supports the business community in Qatar through its services and highlights the business opportunities available in various industries and sectors in Qatar.
The chamber also works to support and develop the economy and its productivity for the benefit of the country, in general and to the benefit of the member companies of the Chamber, in particular, supporting and developing a sustainable business environment in Qatar.
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