QFC Authority Publishes 2010 Annual Review "Senior managers very pleased with the progress being made"

The Qatar Financial Centre Authority (QFC Authority) today published its 2010 Annual Review and gave a positive and upbeat assessment of the financial services sector. 2010 represented the first operational year for the QFC Authority’s three hub strategy, which is positioning Qatar as regional leader in asset management; reinsurance; and captives as well as providing support for a full range of financial services providers.

Shashank Srivastava, acting CEO of the QFC Authority commented: “With the guidance provided by the QFC Authority Board and support of the Qatari Government, last year exceeded expectations. The global financial community emerged from two difficult years, into a period of controlled growth. Business people are more risk adverse and diligent about the investments and relationships they enter into which consequently has highlighted Qatar as an attractive destination for capital.

“Qatar’s stable macroeconomic environment, strong institutional framework and the government’s diversification policies have helped the country to achieve a ranking of 17th in the World Economic Forum’s Global Competitiveness Index for 2010-11, the highest rank in the MENA region. The growing importance of Qatar as a place to do business in the region is demonstrated by the growing interest and enquiries from firms seeking licenses at the QFC”.

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http://www.qfc.com.qa/Files/Reports/Annual%20Review%20final.pdf