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Dear Colleagues,

Welcome to another edition of our monthly update on the progress achieved by the QFC over the past month. In May, we welcomed 66 new firms to our platform, bringing our total to 2,177. We're inching ever closer to our 2030 target, with less than a thousand firms left to go.

Throughout the month, we entered into three significant partnerships. We solidified memorandums of understanding with the Hong Kong Financial Services Development Council and the Economic Development Board Mauritius. QFC shares a similar vision with these organisations regarding the future of finance. Together, we aim to cultivate new avenues for knowledge acquisition, investment opportunities, and innovative endeavours, all aimed at fortifying the financial sector within our respective jurisdictions.

The third partnership is with the Qatar Science and Technology Park, which entails the migration of QSTP firms to the QFC regime and facilitating registrations for new QSTP companies. This workflow agreement further streamlines business set-up and expands the support available to tech firms in Qatar and reinforces our commitment to fostering innovation and growth in the sector.

In May, QFC hosted two strategic events. The Qatar-France Investor Meet-Up, in collaboration with the Economic Department of the French Embassy, explored promising ventures between France and Qatar. Meanwhile, the Labuan Masterclass with Labuan International Business and Financial Centre explored fresh opportunities for collaboration between QFC and Labuan to drive growth within the Islamic finance sector.

We witnessed a month marked by significant initiatives in May, and I extend my sincere appreciation to the entire QFC team. Your dedication and collective efforts continue to be the driving force behind our success. I am eagerly anticipating the milestones we will achieve together in the months ahead.

Yousuf Mohamed Al-Jaida

Chief Executive Officer, Qatar Financial Centre

We are proud to welcome 66 new firms to the QFC platform during May 2024
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QFC News Highlights

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QSE Q1 aggregate profit rise to QR13.1bn sets positive tone for 2024: QNBFS

Qatar signs double taxation avoidance agreements with Saudi Arabia, UAE

Arab bourses' market cap hit $4.36 trillion at end of April 2024: Arab Monetary Fund

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