Doha, 24 April 2008

The Qatar Financial Centre Authority (QFCA) has supported a finance project competition at Carnegie Melon University in Qatar (CMUQ).

QFCA recently sponsored a finance project competition held at the Carnegie Mellon University in Qatar on 24th April. The participants were students in the finance courses offered as part of the Business Administration curriculum. Teams had to clear two elimination rounds before reaching the finals where they were given 15 minutes to present their work. The projects included analyzing whether GCC investors should diversify into overseas stock markets, why crude oil prices have increased, Islamic Finance and Delta Fund’s bid for Sainsbury’s.

The competition was judged by Mr. Ian Anderson, Director of Tax and Finance and Mr. Shashank Srivastava, Director Strategy and Planning of the QFCA, along with Dr. Aziz Lookman, Professor of Finance at CMUQ.

The teams were judged on the quality of their analysis, originality of their approach and on their depth of knowledge. International stock market diversification was awarded the first prize, team members Mohamad Abou Zainab, Salma Kayali, Bayan Taha, Wesam Said and projects Impact of macro factors on oil prices and Delta Two fund bid for Sainsbury’s shared the second prize, team members were Mohammed Al-Ibrahim, Omar Khan, Basit Iqbal, Anas Abu Qamar and Samiha Kamel, Rana El Sakhawy, Hicham Nedjari, Maha Al Hanzab. All received cash prizes, sponsored by the QFC Authority.

Stuart Pearce, Chief Executive Officer and Director General of QFC, highlighted QFC’s role in this competition as an example of how the QFC is contributing towards the development of intellectual capital for Qatar’s financial sector. He remarked “This sponsorship demonstrates our commitment to education and we are proud to be in partnership with CMU to help develop the future business leaders of Qatar.”

"Working on real-world issues provides students with the experience of applying financial valuation and analysis techniques learnt in the classroom the kinds of issues they will address as professionals. Qatar Financial Centre Authority’s involvement in the competition is much appreciated and contributed to its success. Our students greatly benefited by having to present and defend their ideas to senior finance professionals. I look forward to collaborating with the QFCA on future projects ", said Dr. Lookman.

Media Contact

Steve Martin
Director of Marketing and Corporate Communications
Tel +974 496 7755 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.

The QFC Civil and Commercial Court and QFC Regulatory Tribunal
The QFC Civil and Commercial Court and QFC Regulatory Tribunal were launched in February 2007. The President of the Court is Lord Woolf, formerly Lord Chief Justice of England and Wales. The Court is modelled on the internationally respected Commercial Court in London. In the event of disputes in matters of law, it will be the final arbiter. The Regulatory Tribunal has been established to hear and decide upon appeals from decisions of the QFC Regulatory Authority and other QFC agencies. Its Chairman is William Blair, QC. Both the President and the Chairman are supported by Judges who have held the highest judicial offices in their own jurisdictions.