The headquarters of the Qatar Financial Center
The Qatar Financial Center signed a Memorandum of Understanding with the Qatar Central Securities Depository Company, to define aspects of joint cooperation between the two sides with regard to attracting, encouraging and increasing the volume of domestic and foreign investment flows.
The memorandum of understanding was signed on behalf of the Qatar Financial Center by Mr. Youssef Mohamed Al-Jaida, CEO of the Center, and on behalf of the Qatar Central Securities Depository Company, Mr. Musnad bin Abdul Latif Al-Misnad, CEO of the company.
This memorandum stems from the important role played by clearing and depository companies in promoting the growth of the financial markets in the State of Qatar.
According to this memorandum, the two parties will coordinate and unify efforts to spread the culture of investing in stocks and securities by educating, directing and motivating local and international investors to invest in securities and increase their confidence in the Qatari economy.
This memorandum will also contribute to enhancing the growth of the financial markets in the State of Qatar and promoting the investment opportunities available in the stock markets, and support the achievement of the main goal of building a diversified and competitive national economy in line with the Qatar National Vision 2030
. He expressed his pleasure to cooperate with reputable institutions in Qatar, such as the Qatar Central Securities Depository Company, and to work together to open more commercial opportunities for local and foreign investors in the Qatari market.
He said that this memorandum will contribute to strengthening the position of the State of Qatar as a thriving commercial center in the region, and will provide investors with a new portal to explore the promising investment opportunities in the State of Qatar’s financial markets, and to identify the requirements and procedures for depositing securities, in addition to helping them determine the best investment methods in State securities markets.
Al-Jaida added that the signed memorandum of understanding will contribute to increasing the support provided to companies registered on the QFC business platform, which currently number more than 900 companies, by supporting the growth of their business and ensuring their expansion in the Qatari financial markets in the future.
For his part, Mr. Musnad bin Abdul Latif Al-Misnad said that this memorandum of understanding represents a positive step forward and reflects the extent of Qatar Central Securities Depository’s commitment to promoting the growth of the Qatari capital and financial markets, in addition to being an important tool for achieving financial integration. Local small and medium enterprises, in line with the Qatar National Vision 2030 for economic development.
Al-Misnad noted that this memorandum comes within the framework of the company’s strategy aimed at establishing long-term relationships, expressing his happiness with this partnership with a reputable Qatari institution such as the Qatar Financial Center.
“Thanks to our extensive experience and knowledge in the field of asset management and shareholder relations, we will be able to provide the necessary support to enhance growth in this aspect of the market, and we believe that this partnership will contribute to attracting a new segment of investors to our financial markets,” he added.
It is noteworthy that the Qatar Financial Center provides a prominent platform that allows companies registered in it to enjoy many competitive advantages, such as the right to foreign ownership of up to 100%, the possibility of transferring all profits abroad, a corporate tax not exceeding 10% on local profits, and working within the framework of a network Subject to an expanded double taxation agreement involving more than 80 countries, operating within a legal environment based on common English law and the right to do business in any currency.