QFC, one of the world's leading and fastest-growing onshore business and financial centres, had a remarkable year in 2018 that included:

• 31% growth in the number of registered firms, reaching over 605 firms

• The signing of 5 landmark MoUs with local and international entities

• ISDA netting recognition

• Numerous high-level busine ss and diplomatic delegations from the US, Europe, Asia and Africa

The Qatar Financial Centre (QFC), one of the world's leading and fastest growing onshore business and financial centres, achieved a remarkable 31% growth in 2018, with the number of firms registered on its platform to reach 605 in December 2018, compared to 461 firms at the beginning of the year.

This is well past the 50% mark of the QFC's goal of registering 1,000 firms by 2022 and includes businesses in a variety of industries that range from investment management, insurance, consultancy and investment advisory, as well as holding companies, special purpose companies and professional services firms. The new firms originate from a diverse number of countries including Qatar, the US, Canada, the UK, France, Switzerland, Italy, Jordan, India as well as Pakistan and others.

The QFC's growth is also reflected in the number of milestone MoUs, events and international engagements that took place in 2018. The QFC signed five landmark MoUs in 2018 with key local and international stakeholders to develop various sectors of the economy. Most notably, with the Aspire Zone Foundation to establish 'Qatar's Sports Business District' (QSBD), a new national project which aims to create a premier sports business cluster in Qatar and the Middle East. The QFC also signed an MoU with B-Hive, a European collaborative innovation FinTech platform to develop the FinTech industry in Qatar.  In line with its mandate to support Qatar's economic diversification efforts, the QFC signed a key MoU with the Ministry of Transport and Communications to develop the digital industry.