Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC, addressing leaders from Qatar’s banking sector during the roundtable.
DOHA: The Qatar Financial Centre hosted an event entitled, “Economist Roundtable: Prospects for Qatar’s Financial Sector”. The event convened leaders and experts from Qatar’s banking community to discuss the efficiency, productivity and competitiveness of Qatar’s capital markets and financial sector.
The Economist Roundtable comprised of presentations from the Ministry of Finance, Brookings Doha and the Qatar Financial Centre centered on Qatar’s financial sector.
Based on data from United Nations’ Statistics Division presented during the event, productivity of Qatar’s financial sector is comparatively high and increasing, which raises the prospect for investing strategically in a range of products, services and systems to ensure competitive international positioning, the experts observed.
Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC, said: “Qatar’s economy has witnessed stable growth and the financial sector has been a significant contributor to this development. As the economy expands and diversifies, so would the demand for innovative products and services. Meeting these demands is imperative in strengthening the sector’s productivity and competitive advantage.”
Al Jaida added: “With a commitment to support and diversify Qatar’s economy, the QFC is pleased to have organised this event which has proven to be an excellent platform in identifying different avenues to further develop Qatar’s capital markets and financial sector and ensure its sustainable growth.”
The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.
