Doha, Qatar, 15 January, 2012: The QFC Regulatory Authority has announced that it is facilitating a one-day symposium in Doha to discuss evolving best practices in financial risk management and to review emerging financial risks specific to the GCC.

The spirit of both the symposium and the QFC Regulatory Authority is to take a proactive and prudent approach to risk management, highlighting, in particular the region-specific risk considerations in the financial sector and to position Qatar as the regional leader in risk management practices.

The GCC Risk Management Symposium "The New Order" will take place on 30 January 2012 at the Ritz Carlton, Doha. The Symposium will bring together senior risk professionals, regional central bankers, regulators and subject experts from across the banking, insurance and asset management sectors both from the GCC and international jurisdictions.

The Symposium will be a significant occasion as it will be one of the first of its kind to focus on emerging risk considerations as well as best practices in effective risk management that are specific to the GCC. The topics to be discussed include the impact of the global financial crisis on the region; the lessons learnt and the challenges that remain for regulators and financial industry globally; emerging trends in financial sector regulation; establishing an effective risk governance framework; the benefits and challenges of Basel III implementation for the GCC; key macro-prudential developments for the region; a case study of internal rating models for financial institutions; and a regional perspective on market, credit and operational risks for banks (conventional versus Sharia compliant) in the region.

His Excellency Sheikh Abdullah Saud Al-Thani, Governor of Qatar Central Bank (QCB) will address the Symposium. Generous financial support and strategic collaboration has been provided by the QFC Authority, Al-Attiya Computer & Technology, Algorithmics (an IBM Company), KPMG, Moody's Analytics, S&P Capital IQ and Thomson Reuters.

Phillip Thorpe, Chairman of the QFC Regulatory Authority commented:

"Over the last three years, financial regulators have focused on strengthening financial risk management at both the macro-prudential and micro-prudential levels. To reinforce this trend, the QFC Regulatory Authority is facilitating the Symposium with the intention of not only discussing risk management challenges that are common to the GCC, but to also address these through practical, actionable outcomes for implementation in the future".

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About the QFC Regulatory Authority
The QFC Regulatory Authority is an independent regulatory body established 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. Further details are available on the website www.qfcra.com

About the Qatar Financial Centre
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC operates to international standards and provides a first class legal and business infrastructure for those doing business within the QFC. The QFC was created by QFC Law No.(7) of Qatar and has been open for business since 1 May 2005.

Media Contacts:
Valerie Ward - QFC Regulatory Authority            
T: +974 4495 6776            
F: +974 4483 0894
E: v.ward@qfcra.com   

© Press Release 2012