QFC Holds Asset Management Roundtable
The Financial Sector Office (FSO) of the Qatar Financial Centre (QFC), one of the world's leading and fastest growing onshore business and financial centres, and the Qatar Financial Centre Regulatory Authority (QFCRA) successfully held an Asset Management roundtable to discuss a number of key issues in the financial sector.
The high-level Asset Management session was attended by asset managers from firms licensed and authorised on the QFC platform, and is the second roundtable organised by FSO to leverage the expertise of the QFC and QFCRA for the benefit of firms licensed and authorised on the QFC platform.
The roundtable follows the signing of 21 MoUs between the QFCRA and securities regulators across the European Union. The MoUs will provide a unique and exciting opportunity for QFC firms, and establish a platform for new and existing QFC fund managers to enter new markets and access a greater pool of investors.
Speakers at the roundtable included the Head of Investment Management at the QFCRA Giovanni Bandi, who addressed how these MoUs will create new opportunities for QFC fund managers, Head of Asset Management and Managing Director of QInvest Dr. Ataf Ahmed, who provided an overview of the current market, and Legal Manager of the QFC Authority Michael Dalby who discussed the Investment Management Association. Managing Director of FSO Henk Hoogendoorn led the roundtable discussion on how to improve Asset Management opportunities in Qatar.
Giovanni Bandi, Head of Investment Management, QFCRA
"The recently-signed MoUs with securities regulators in the EU is a great example of the Qatar Financial Centre Regulatory Authority's commitment to developing the opportunities available to firms licensed and authorised on the QFC platform. By co-hosting the Asset Management roundtable with the QFC's Financial Sector Office, we can continue to provide an essential and valuable platform that will enable and promote knowledge-sharing."
Henk Hoogendoorn, Managing Director, FSO
"The Asset Management roundtable discussions are extremely important as they facilitate the generation of new ideas and enable us to discuss potential future opportunities that are available in the market. We are very pleased with the valuable insight and thoughts that resulted from our discussions during the roundtable, and look forward to hosting similar productive sessions in the future."
Dr. Ataf Ahmed, Managing Director/ Head of Asset Management of QInvest
"The QFC continues to play a significant role in bringing together leaders from across the asset management industry to discuss salient trends and issues in the market. This roundtable provoked a healthy and important discussion around the need to ensure Qatar remains an attractive hub in the minds of investors. This spirit of collaboration and cooperation will support the growth and development of asset management in Qatar, while further enhancing its status on the international stage."
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 license and offers support in matters related to operating a business in Qatar and for financial services firms, obtaining authorisation to do so. 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% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries. In addition, the independent Employment Standards Office (ESO) of the QFC embodies a unique Administrative Employment Dispute Resolution Centre accredited by the International Labour Organization (ILO), providing conciliation and adjudication services free of charge to help resolve workplace conflicts. The ESO is fully aligned with the Qatar National Vision 2030 and aspires to promote international best practices in the field of human capital.