Posted on December 03, 2018

The Qatar Financial Centre (QFC), one of the world’s leading and fastest growing onshore business and financial centres, recently held the inaugural meeting of its Advisory Board.

The Advisory Board members include Abdulla Al-Marri, Chairman, Qatar First Bank; Salah Al-Jaidah, Chairman, Deutsche Bank AG MENA, Omar Al-Fardan, Managing Director, Alfardan Corporation; Rashid Al-Saad, Senior Partner, Sharq Law Firm; and Tamim Al-Kawari, Chief Executive Officer, QInvest, and is led by Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority. The Advisory Board will work closely with QFC management to support the QFC in achieving its strategic objectives. The members of the board, who bring a wide range of expertise and knowledge from the private sector and financial services, will also represent the QFC during prestigious financial events throughout the year, both in Qatar and internationally.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority said: “Qatar is in many ways at a transformative point in its history. Numerous interconnected initiatives across varying government sectors are intersecting with ever-increasing momentum in the private sector, propelling Qatar’s economy to greater heights. This is the complex and promising financial and economic landscape in which we operate, which makes the need for the Advisory Board undeniable.” Al-Jaida added: “I am confident that the future meetings of the Qatar Financial Centre’s Advisory Board will provide invaluable insight and strategic thought that will contribute to greater accomplishments for the QFC and Qatar.”

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 licence and offers support in matters related to operating a business in Qatar. 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 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.

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