Posted on November 20, 2019

The Qatar Financial Centre (QFC), one of the world’s leading and fastest growing onshore business and financial centres, had its legal team recognised at the 4th annual Qatar Business Law Forum and Awards held in November. The QFC Legal team was presented with the ‘Legal Department of the Year – Large Team’ award, and in further acknowledgement of the legal expertise at QFC, its Senior Legal Counsel, Lauren Djedid, was also named ‘Legal Counsel of the Year’.

The ‘Legal Department of the Year – Large Team’ award winner is selected for the ability to provide strategic legal advice, successfully defending contentious claims, and automating its contracts process, as well as for its excellence in its legislative functions, in accordance with international standards. The legal environment at the QFC continues to be amongst the best-in-class, as demonstrated by QFC’s netting regime, which also has received recognition from the International Swaps and Derivatives Association. 

Lauren Djedid, in particular, was praised for developing an ultimate beneficial ownership regime at the QFC, the first of its kind in Qatar, resulting in higher standards of transparency in the global fight against money laundering and terrorism financing, increasing awareness of the QFC amongst international peers. The event was hosted by LexisNexis Risk Solutions, in partnership with the Ministry of Commerce & Industry, Qatar University’s College of Law, Qatar Chamber, the Association of Corporate Counsel (ACC) - Middle East Chapter, and the Qatar International Court & Dispute Resolution Centre.

With over 200 leading lawyers in attendance, the 2019 Qatar Business Law Forum and Awards ceremony was attended by in-house counsel and private practice practitioners.  The awards recognise exceptional achievement from Qatar’s legal community, who are evaluated by an independent panel composed of industry leaders, academic practitioners, and government officials. The QFC Legal team’s award was received by Ishaq Burney, General Counsel; along with Roscoe Banks, Legal Director; Michael Dalby, Legal Manager and Lauren Djedid, Senior Legal Counsel.

QFC legal team recognised 2 [qatarisbooming.com].jpg

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority, said: "The awards are a testament to the world-class expertise of our legal team, and the instrumental role they play in making the QFC an attractive platform for businesses to grow in line with Qatar's long-term economic objectives." Nasser Al Taweel, Chief Legal Officer, QFC Authority said: “The QFC Legal team continues to be awarded for its excellence in Qatar and the greater MENA region, distinguishing the expertise of our hard-working team and the valuable contribution to the overall success of both the QFC and Qatar. The reputation of the team is evident from the positive client feedback received by the team. These accolades will continue to encourage the high standards and technical acumen demonstrated by the QFC Legal team.”

Lauren Djedid, Senior Legal Counsel, QFC Authority, said: “I am honoured to have received the ‘Legal Counsel of the Year’ award in recognition of our efforts in regulatory development within the QFC, and engagement in important strategic mandates for Qatar. We look forward to continuing to evolve the legal environment in the QFC in line with international best practice in order to support the broader FDI agenda of the State of Qatar.”

The QFC is an onshore jurisdiction that allows registered companies to 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 taxation avoidance agreement network with 81 countries.

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