MultaQa Qatar discusses key insurance topics

Notes and media contacts

Media Contact:
Steve Martin
Head of Corporate Communications and Marketing
Qatar Financial Centre
Tel +974 496 7755

Hanan Al-Lakkis
Media Manager
Hill and Knowlton Qatar

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.

Insurance
The QFC Authority aims to create a thriving hub for insurance services. It is seeking to attract all components of the industry to benefit from the regulatory and business environment it is creating for them to develop and grow. It will thus assist in raising the profile of the regional insurance industry, and in raising awareness internationally of the opportunities being created by the Middle East's rapidly changing risk environment. The QFC Authority will support insurance and reinsurance companies, brokers, captives, educational and training centres, as well as rating agencies and loss adjustors and other related service providers in achieving success through the QFC.