Chairman's introduction

Within the space of just two years the QFC has reached a stage of maturity that many of the world's more established centres took years or even decades to achieve.

The QFC Law states that the QFC Authority should " establish, develop and promote the QFC as a leading location for international finance and business designed to attract international banking, financial services, insurance businesses, corporate head office functions, as well as other business". The QFC is a unique concept which does not compete directly with other centres in the region. It is one which we - the Qatari government - have developed to meet our growing financial and investment needs and which we fully support. We are confident it will help substantially to transform the quantum and quality of financial services in Qatar, as well as the GCC to meet the challenges and opportunities of the future. We believe that it will help to integrate Qatar into the global economy, and enable Qatar to contribute to the growth of financial services, capital markets and investment opportunities in the region.

The economic backdrop to the QFCA's establishment has also been a contributor to its success. The QFC lies at the heart of Qatar's dynamic economic growth and investment strategy. It is a fundamental pillar in the nation's future economy. Indeed such a resource will play an important role in the provision of our future financial needs. The QFC Regulatory Authority has created a best of breed regulatory environment, and the QFC has received applications and expressions of strong interest from a large number of world class financial services providers.