New rules for insurers and funds in the pipeline

The Qatar Financial Centre's (QFC) regulator is developing new regulations starting this year as a growing number of insurance companies, funds and asset managers seek to set up in the financial zone, its chairman said.

The Qatar Financial Centre Regulatory Authority (QFCRA) is planning new regulations to govern the insurance sector as early as the second half of 2009 and is devising rules for funds, even as demand dips during the financial crisis, Phillip Thorpe said.

"There's a good supply of new firms in the pipeline, areas of real growth are insurance, asset management and funds" said Thorpe.