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Qatar likely to grow into major financial hub

Qatar will shortly grow to be one of the most vibrant financial hubs in the GCC. It further offers major opportunities and growth prospects for companies that deal in banking, wealth management, and corporate financing, said a senior official at the Qatar Financial Centre (QFC).

The Acting CEO and Chief Strategic Development Officer of QFC Authority, Shashank Srivastava, said that Qatar will shortly be the region’s financial hub, with huge business opportunities for companies working in asset management, banking and insurance sectors.

Luxembourg is a modern, diversified financial centre, known for its stability and openness to international markets. Qatar and Luxembourg has already established close ties in the financial sector, and this seminar will further strengthen those bonds, opening fresh avenues for co-operation, said Abdulrahman Al Shaibi, Managing Director and Board Member at Qatar Financial Centre Authority.

The seminar was the first step to improve ties between QFC Authority and Luxembourg for Finance. The QFC Authority has refined an attractive and business-friendly legal and regulatory environment that focuses mainly on re-insurance, asset management and captive insurance. This strategy has helped in Qatar being recognized as a financial hub. Last year, Qatar bagged the Best Financial Centre award in the Middle East from Global Investor magazine.

Posted on 1/2/2012