The Qatar Financial Centre (QFC) recently held the inaugural meeting of its Advisory Board. The Advisory Board members include Abdulla Al Marri, Chairman, Qatar First Bank; Salah Al Jaidah, Chairman, Deutsche Bank AG MENA, Omar Al Fardan, Managing Director, Alfardan Corporation; Rashid Al Saad, Senior Partner, Sharq Law Firm; and Tamim Al Kawari, Chief Executive Officer, QInvest, and is led by Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority.
The Advisory Board will work closely with QFC management to support the QFC in achieving its strategic objectives. The members of the board, who bring a wide range of expertise and knowledge from the private sector and financial services, will also represent the QFC during prestigious financial events throughout the year, both in Qatar and internationally.
Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority said: “Qatar is in many ways at a transformative point in its history. Numerous interconnected initiatives across varying government sectors are intersecting with ever-increasing momentum in the private sector, propelling Qatar’s economy to greater heights. This is the complex and promising financial and economic landscape in which we operate, which makes the need for the Advisory Board undeniable.”
Al Jaida added: “I am confident that the future meetings of the Qatar Financial Centre’s Advisory Board will provide invaluable insight and strategic thought that will contribute to greater accomplishments for the QFC and Qatar.”
The QFC is an onshore jurisdiction, allowing companies to operate in and from Qatar within the QFC legal and tax environment. The QFC endeavours to promote Qatar as an attractive business destination. Companies that wish to establish a business in the QFC are guided throughout by a dedicated QFC relationship manager who assists in the process of obtaining a licence and offers support in matters related to operating a business in Qatar.
QFC firms 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 tax treaty agreement network with 60+ countries.
