(MENAFN – Gulf Occasions) The Qatar Monetary Centre (QFC) has signed a memorandum of understanding (MoU) with the Qatar Central Securities Depository (QCSD), the primary and solely depository that’s licensed by the Qatar Monetary Markets Authority (QFMA), to supply depository and related providers, in Qatar.
Specializing in the numerous function of depositories in supporting the expansion of Qatar’s monetary markets, the MoU units forth the framework of co-operation between the QFC and the QCSD, which goals to stimulate, entice and bolster native and international investments.
The 2 events can be becoming a member of efforts to foster the tradition of investing in securities by educating, directing, encouraging and motivating native and international traders and strengthen their confidence within the Qatari financial system.
Along with bolstering the expansion of Qatar’s monetary markets and selling investments in securities, the MoU serves the overarching purpose of attaining a diversified and aggressive financial system, according to the Qatar Nationwide Imaginative and prescient 2030 (QNV 2030).
The MoU was signed by Yousuf Mohamed al-Jaida, chief government officer, QFC Authority, and Misnad bin Abdullatif al-Misnad, chief government officer, QCSD.
Al-Jaida stated, ‘We’re happy to accomplice with key organisations in Qatar, such because the QCSD, and to collaboratively create extra enterprise avenues for native and international traders within the Qatari market. As well as, the MoU helps Qatar’s place as a thriving enterprise hub within the area, because it gives traders with a brand new gateway to faucet into the profitable alternatives of our monetary markets, familiarises them with the depository phrases and helps them in figuring out methods to spend money on securities.
Al-Jaida added, ‘complementing the QFC’s dynamic and main contribution, supporting Qatar’s financial growth and diversification, the MoU will additional add a big worth to our 900+ firms, at the moment registered on the QFC platform, by supporting their enterprise development and growth by the Qatari monetary markets.
Al-Misnad stated, ‘The signing of MoU is a optimistic step ahead within the QCSD’s dedication to strengthen Qatari capital and monetary market and is essential device of monetary inclusion. Additionally it is a big step in supporting native SME section, according to the Qatar Nationwide Imaginative and prescient of 2030 of financial growth.
Al-Misnad highlighted, ‘This MoU is according to our technique to construct a long-term relationship. QCSD is extraordinarily happy to accomplice with an esteemed Qatari organisation just like the Qatar Monetary Centre and we look ahead to strengthening our mutual ties and dealing intently with them. With our expertise in managing belongings and shareholders, we will help and develop this part of the market. We consider that this partnership will entice new set of traders to our monetary markets.
The QFC is an onshore jurisdiction that permits registered firms to take pleasure in aggressive advantages, comparable to as much as 100% international possession, 100% repatriation of income, 10% company tax on domestically sourced income, and an intensive double taxation treaty community with over 80 nations, a authorized surroundings based mostly on English frequent legislation and the fitting to commerce in any foreign money.
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