Doha, Qatar, 23 March 2015
The latest Global Financial Centres Index, GFCI 17, sponsored by the Qatar Financial Centre Authority, covering 82 financial centres from around the world, has been published today by the London based Z/Yen Group. The index ranks Qatar in the top 20 leading financial centres from across the globe.
Qatar's rating rose by 7 points, mainly driven by its increasing competitiveness, international relations and perceived significance as a leading financial centre not only within the GCC but on a global level. The index saw the ratings of Doha, Riyadh and Casablanca reflect the biggest gains in this competitive region, while Dubai and Abu Dhabi saw modest declines.
Yousuf Al-Jaidah, Deputy CEO of the QFC Authority, said: "The QFC is delighted that Qatar has again been recognised as a leading financial centre in the GCC, ranked within the top 20 financial centres from around the world. The GFC Index is a renowned and highly relevant and respected report of the leading financial centres globally, which reflect the views and opinions of executives from all over the financial community. Qatar's ranking and rise in ratings reflects how well the economy is performing in an unstable global economy. The QFC's competitive business environment and its world class legal, regulatory and tax platform provides all firms with the resources they require to grow their businesses in Qatar and the broader GCC region."
Mark Yeandle, the author of the GFCI, said "Doha continues to make strong progress in attracting the attention of the international financial and business services community. Qatar's regulatory and economic stability in the face of continued energy market uncertainty is testament to Doha's strength as a globally influential financial centre."
GFCI 17 uses 28,494 financial centre assessments completed by 3,527 financial services professionals. Since 2007, well over 120,000 assessments from over 9,500 respondents have built the index. The GFCI is updated regularly and ratings change as assessments and instrumental factors change. To view the GFCI report, please visit: www.longfinance.net/images/GFCI17_23March2015.pdf
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About GFCI
The Global Financial Centres Index (GFCI) provides profiles, ratings and rankings for 82 financial centres, drawing on two separate sources of data - instrumental factors (third party measures and indices) and responses to an online questionnaire. The GFCI was first published by Z/Yen Group in March 2007 and has subsequently been updated every six months. Successive growth in the number of respondents and data has enabled Z/Yen to highlight the changing priorities and concerns of financial professionals over time, particularly since financial crises began to unfold in 2007 and 2008. This is the seventeenth edition of GFCI (GFCI 17).
About Z/Yen Group
Z/Yen is the City of London's leading commercial think-tank. Z/Yen was founded in 1994 to promote societal advance through better finance and technology. Z/Yen has built its practice around a core of high-powered project managers, supported by experienced technical specialists so that clients get expertise they need, rather than just resources available. The firm is headquartered in London, but Z/Yen is committed to the 'virtual office' concept and is an intense user of technology in order to improve flexibility and benefit staff. Z/Yen has 25 full-time-equivalent staff and over 300 associate experts. Z/Yen people share significantly in the benefits of success and Z/Yen seeks to develop a supportive environment in which professionals from a variety of disciplines can flourish.
About the Qatar Financial Centre
Established by the Government of Qatar in 2005, the Qatar Financial Centre (QFC) is an on-shore centre which has become an integral part of Qatar's economy and rapid growth story. It is fulfilling its mandate to help build a world-class financial and business environment in Qatar, providing a platform for domestic, regional and international growth.
The QFC Authority is the commercial and strategic arm of the QFC. It is responsible for developing and ensuring compliance with the QFC regulations and rules comprising the QFC's legal and tax environments and it helps firms to quickly establish a physical presence in Qatar and the region. The QFC continues to attract a broad range of leading regulated and non-regulated firms, both domestic and international. QFC-licensed firms benefit from an environment which operates to international standards, with a legal system based on English Common Law, regulation which is risk and principles-based, and a competitive tax regime.
Contacts:
Qatar Financial Centre Authority
Mille Hyde-Smith
E. m.hyde@qfc.qa
M. +974 5584 8308
Brown Lloyd James Doha
Eliana Maakaroun
E. elianam@bljworldwide.com
M. +974 5530 4314
© Press Release 2015
