Doha, 12 June 2008

The Qatar Financial Centre (QFC) Authority has announced the enactment on May 4, 2008 of amendments to the QFC Companies Regulations. The amendments were necessitated by the enactment of the Collective Investment Funds Rulebook by the QFC Regulatory Authority on June 28, 2007.

The QFC Authority has also announced the issuance on March 26, 2008 of a Policy Statement Setting Minimum Levels of Health, Disability Income and Life Insurance Benefits (Policy Statement). These new requirements are issued pursuant to the QFC Employment Regulations and must be implemented by all QFC Employers.

The amendments to the Companies Regulations and the Policy Statement were issued for public consultation on December 27, 2007.

Copies of the QFC Companies Regulations (Amended) and the Policy Statement can be found by clicking here and the link to the health, disability income and life insurance benefits policy here.

Media Contact

Steve Martin
Director of Marketing and Corporate Communications
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.