DOHA, 30 January 2008

The Qatar Financial Centre Authority (the “QFC Authority”) has announced that the QFC Partnership Regulations and amendments to the Employment Regulations were both enacted today by HE Yousef Hussein Kamal, Acting Minister of Economy & Commerce, following approval by the QFC Authority Board at its meeting on 13 December 2007.

The QFC Partnership Regulations provide for the establishment of general and limited partnerships in the QFC and were the subject of a pubic consultation process. The amendments to the QFC Employment Regulations reduce a quarterly reporting burden and permit QFC employers to file certain information on their employees on a biannual basis.

Copies of the QFC Partnership Regulations and QFC Employment Regulations (Amended) can be found here or by visiting here

Media Contact

Steve Martin Head of Corporate Communications and Marketing
Tel +974 4967755 Mob +974 583 1937 e-mail s.martin@qfc.com.qa

Notes to Editors:

Qatar Financial Centre
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC will operate to international standards and provide a first class legal and business infrastructure for those operating within the QFC. The QFC was created by Qatar Law No.(7) and has been open for business since 1 May 2005.

QFC Regulatory Authority
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorize, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modeled closely on that used in London and other major financial centers. The Regulatory Authority is currently receiving applications and granting authorisations.

QFC Authority
The QFC Authority is the commercial, administrative and legislative body responsible for driving the commercial strategy of the QFC and for developing relationships with the global corporate community and other key institutions both within and outside of Qatar.