CEO Foreword
Dear Colleagues,
I am pleased to share some significant updates on our recent progress.
First, I would like to highlight our H1 report published in August, which showcases QFC's best half-year performance since its inception. We achieved a record 505 firm registrations, a remarkable 230 per cent increase from 149 firms in the same period last year. Notably, 38 per cent of these new registrations are in the tech sector, and 10 per cent are in financial services. This reflects the positive impact of our efforts to position Qatar as a leading hub for innovation and finance.
We have maintained this momentum through the summer, registering 93 new firms in July and August.
Additionally, I am honoured to share that I have been recognised as one of the top CEOs in the region. This accolade is not just a personal achievement but a testament to our talented team's collective efforts. It is through their dedication, passion, and professionalism that QFC continues to thrive and make a meaningful impact in our industry.
With an exceptional team, I am confident that we will continue to build on our successes and seize new opportunities in the months ahead.
Sincerely,
QFC News Highlights
Qatar & Global Insights Hub
Market Trends
Lending for climate investments in emerging markets represents less than 5% of banks’ cumulative portfolios, a World Bank report has revealed, calling on financial institutions to do more to support these investments.
World Bank
The International Monetary Fund raised its expectations for global growth during the current year. The fund confirmed that it expects growth of 3.1% this year, compared to an increase of 2.9% expected in a previous report published in October 2023
IMF
S&P Global Ratings has indicated that the robust performance metrics of Gulf Cooperation Council (GCC) banks during the first half of the year suggest a strong finish for them in 2024. The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1.
S&P