The decision to close its QFC
branch follows "many months of baseless actions by the QFCRA that have made it impossible for FAB's operations to continue in Qatar," reported Emirates news agency Wam , citing a statement issued by FAB.
In a statement, the UAE's largest lender said it has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC
) branch licence and permanently close its QFC
The idea is to create Doha as a regional capital of Islamic finance", Yousuf Mohamed Al Jaida, Chief Executive Officer, Qatar Financial Centre (QFC
) Authority said yesterday.
Highlights included presentations from senior QFC
representatives as well as case studies by Singapore companies that currently have operations in Qatar.
The initiatives aim to contribute to the CEO Yousuf Mohamed Al-Jaida's recent announcement of the QFC
's five-year roadmap that aims to attract 1,000 firms and create 10,000 jobs by 2022.
The new application consist a multi-touch menu which permits customers to learn more on how to set-up at the QFC
and make payments for immigration services among others.
The permitted activities that can be undertaken in or from the QFC
are prescribed by Qatari Law No.
Authority is the commercial and strategic arm of the QFC
He succeeds Donna Giordano at the helm of the 68-store QFC
has said that JPMorgan, which is a PIIB Prudential Category four firm, has been authorised to arrange credit facilities, deals in investments and the provision of custody services, as well as advising on investments.
The new strategies mark the next phase of the development of the QFC
T azur Company QFC
Branch has been allocated Licence No.