CEO's perspective

The Qatar Financial Centre Authority (QFCA) has moved from being an ambitious concept to becoming a fully operational and goal oriented organization. It is setting itself stretching targets and standards which are the equal to those of any world class financial centre, and has already gained a record of achievement well ahead of expectations.

Since September 2005 to the present we have been engaged in an intensive programme of research, marketing, and planning in support of our business objectives, as well as participation in international events.

The momentum that we have been able to achieve, both in terms of the level of recognition and understanding of the role and objectives of the QFC, is significant.

In January 2007 we take possession of the QFC Tower, a 20 storey building which will provide offices for some 38 companies. It was anticipated that the new building would be sufficient for the Centre's first 2 years at least. However, it is now clear from the approaches that we have received that additional premises will be required as early as the first quarter of 2007.

We are proud to have assembled a Board representing a variety of industries and professions under the Chairmanship of the Minister of Economy and Commerce. The Board held its first meeting on 2 May 2006.

Looking ahead, the role played by the QFC Authority and of the QFC Authority Board is set to expand. The benefits we can provide to licensed companies operating in the market through the QFC will need to reflect and respond to their growing appetite for business opportunities in specific sectors of the Qatari market, and further afield. The potential for new partnerships with Qatari companies, and with QFC based companies, will be fully explored. Furthermore, the value proposition of the QFC, not only in terms of the expertise it can offer to its partners, but the additional value it can bring to them through knowledge and information, research and facilitation, will be vital.