The Qatar Financial Centre (QFC) and the Astana International Finance Centre (AIFC) have signed a memorandum of understanding (MoU) to establish co-operation in further developing legal services between both entities.Last updated: August 09 2022 08:05 PM
Through this MoU, both parties will facilitate the exchange of information on professional ethics and training, foster a close relationship and create opportunities for professional interaction among their respective legal communities.
Signed by Nasser al-Taweel, deputy chief executive and chief legal officer, QFC, and Nurzhan Kosbayev, deputy chairman of AIFC Authority; the agreement will encourage ongoing and effective dialogue on the regulation of foreign lawyers in their respective jurisdictions and promote sharing of best practices, identifying barriers, and enhancing mutual understanding.
"We believe this opportunity presents a rich knowledge sharing platform to nurture and cultivate young talent within the legal community. This collaboration reinstates the QFC as a significant contributor to Qatar’s socioeconomic growth by supporting the development of local talent in the region," al-Taweel said.
Kosbayev said the AIFC would like to know more about the QFC experience on regulating legal services market, since recently, in May 2022, it introduced the regime for regulation of the legal profession in the AIFC.
"We are keen to give opportunity to law firms from Qatar and Kazakhstan to work closely and exchange the experience in financial centres,” he added.