28 March 2022, Doha – Qatar: Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has signed a Memorandum of Understanding (MoU) with Bayt.com, one of the most trusted and respected recruitment platforms in the region, to empower the local talent pool and entrepreneurs, as well as assist QFC firms to access Bayt network and support programmes.
Founded in 2000, Bayt is the largest marketplace that connects and brings together working professionals seeking jobs and potential employers under a single banner. This collaboration introduces QFC firms to Bayt’s privilege client programme, initiates the feasibility of onboarding graduates to internships in QFC entities and spur initiatives to upskill startup talents. Bayt shall also extend its products and services to QFC firms at a special rate.
The agreement was signed by Sheikha Alanoud Bint Hamad Al-Thani, Deputy CEO & Chief Business Officer, QFC and Sinan Jaber, General Manager, Bayt. Under the MoU there will be mutual collaboration in innovative trends in the workforce such as hybrid work, learning, skills, career pathways, talent acquisition and internal mobility, talent intelligence, diversity, and organisational success.
Addressing the gathering on the MoU signing, Sheikha Alanoud Bint Hamad Al-Thani, Deputy CEO & Chief Business Officer, QFC said, “Qatar is seeing a greater need for skilled talent, fueled by its rapid economic growth. We are happy to partner with Bayt and provide an accessible and cost-effective infrastructure that will help Qatar’s talent pool match their skills with the right jobs and organisations”.
She further added, “This association very much aligns with QFC’s initiatives in supporting Qatar’s youth, elevating the knowledge of industry professionals, and promoting entrepreneurship by supporting startups and SMEs.”
Sinan Jaber, General Manager, Bayt said, “We are very proud to partner with QFC which is aligned with our mission at Bayt to empower companies in Qatar with the tools and information necessary to build their lifestyle of choice. This partnership will allow us to empower startups in the country by organising regular events, webinars, and seminars, where we can share knowledge on emerging trends in the local market. We are also very pleased to extend our products and services at a special rate to new and existing QFC firms, in order to help them understand the market trends and meet all their needs.”
QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as up to 100 per cent foreign ownership, 100 per cent repatriation of profits, 10 per cent corporate tax on locally sourced profits, and an extensive double taxation treaty network with over 80 countries, a legal environment based on English common law and the right to trade in any currency.