PHOTO
14 March 2017
Qatar Financial Centre is on track to licence 1,000 new firms and create 10,000 jobs by 2022, Qatar Financial Centre (QFC) Authority CEO Yousuf Mohamed Al-Jaida said yesterday at a press conference held to reveal their five-year roadmap.
Yousuf took the media through the 2016 achievements, highlighting the much anticipated move to Qatar’s financial city in Msheireb Downtown Doha and the listing of licensed-firm Qatar First Bank.
Earlier, during his speech, Yousuf also reminded attendees of the vast benefits of setting up at the QFC including having its own legal, regulatory, tax and business environment, which allows 100 percent foreign ownership, 100 percent repatriation of profits, and charges a competitive rate of 10 percent corporate tax on locally sourced profits. Benefits that make the QFC one of the leading and fastest growing financial centres in the world.
Commenting on the roadmap to 2022, Yousuf said: “Our roadmap outlines the QFC’s progression from 2017 to 2022, when our nation will be the focus of global attention as we host the 2022 FIFA World Cup.”
The five-year roadmap is aligned with the Qatar National Vision 2030 pillars of human, social, economic and environment development, and underlines the QFC's vision to transform Doha into a leading global financial and commercial capital.
Yousuf also commented on the appointment of leading industry heads to QFC’s Advisory Board. The newly appointed Advisory Board will work closely with QFC management to support the QFC in achieving their objectives. The members of the board, who bring expertise and knowledge of the private sector and financial services, will also represent the QFC at prestigious financial events throughout the year in Qatar and abroad.The five inaugural members are: Omar Hussain Ibrahim Al-Fardan, President of Al Fardan Corporation LLC; Abdulla Ghurab Al Marri, Chairman of Qatar First Bank; Salah Mohamed Al Jaida, Chairman of Deutsche Bank MENA Region; Tamim Hamad Al Kuwari, CEO of QInvest; and Rashid Al Saad, CEO of Al Sharq Global.
During the event, Yousuf outlined the five-fold corporate objectives, which aim to establish a financial city in Msheireb Downtown Doha; issue licenses to 1,000 firms; create 10,000 jobs in the private sector; achieve 3x growth in QFC firms assets and reach 5 percent QE market capitalization.
He added: “We are confident that our new roadmap, coupled with the continuous enhancements to our platform, will successfully contribute to further driving Qatar’s economic development and diversification in line with the Qatar National Vision 2030.”
Qatar Financial Centre is on track to licence 1,000 new firms and create 10,000 jobs by 2022, Qatar Financial Centre (QFC) Authority CEO Yousuf Mohamed Al-Jaida said yesterday at a press conference held to reveal their five-year roadmap.
Yousuf took the media through the 2016 achievements, highlighting the much anticipated move to Qatar’s financial city in Msheireb Downtown Doha and the listing of licensed-firm Qatar First Bank.
Earlier, during his speech, Yousuf also reminded attendees of the vast benefits of setting up at the QFC including having its own legal, regulatory, tax and business environment, which allows 100 percent foreign ownership, 100 percent repatriation of profits, and charges a competitive rate of 10 percent corporate tax on locally sourced profits. Benefits that make the QFC one of the leading and fastest growing financial centres in the world.
Commenting on the roadmap to 2022, Yousuf said: “Our roadmap outlines the QFC’s progression from 2017 to 2022, when our nation will be the focus of global attention as we host the 2022 FIFA World Cup.”
The five-year roadmap is aligned with the Qatar National Vision 2030 pillars of human, social, economic and environment development, and underlines the QFC's vision to transform Doha into a leading global financial and commercial capital.
Yousuf also commented on the appointment of leading industry heads to QFC’s Advisory Board. The newly appointed Advisory Board will work closely with QFC management to support the QFC in achieving their objectives. The members of the board, who bring expertise and knowledge of the private sector and financial services, will also represent the QFC at prestigious financial events throughout the year in Qatar and abroad.The five inaugural members are: Omar Hussain Ibrahim Al-Fardan, President of Al Fardan Corporation LLC; Abdulla Ghurab Al Marri, Chairman of Qatar First Bank; Salah Mohamed Al Jaida, Chairman of Deutsche Bank MENA Region; Tamim Hamad Al Kuwari, CEO of QInvest; and Rashid Al Saad, CEO of Al Sharq Global.
During the event, Yousuf outlined the five-fold corporate objectives, which aim to establish a financial city in Msheireb Downtown Doha; issue licenses to 1,000 firms; create 10,000 jobs in the private sector; achieve 3x growth in QFC firms assets and reach 5 percent QE market capitalization.
He added: “We are confident that our new roadmap, coupled with the continuous enhancements to our platform, will successfully contribute to further driving Qatar’s economic development and diversification in line with the Qatar National Vision 2030.”
© The Peninsula 2017
