QFCRA hosts internationally acclaimed training course for Qatar's regulators

A training team from the UK's Financial Services Authority (FSA) were in Doha to deliver their ARROW training to regulators from the QFC Regulatory Authority, the Qatar Central Bank and the Qatar Financial Markets Authority.

ARROW is the "Advanced Risk Responsive Operating framework" used by the FSA to assess risks to the FSA's statutory objectives (of maintaining market confidence, promoting public awareness, protecting consumers and reducing financial crime) and to assist the FSA to determine regulatory priorities and the allocation of resources.

ARROW is generally regarded as one of the most comprehensive and sophisticated risk assessment models being used today, and the FSA experience in designing and operating the ARROW model offers many valuable lessons for financial regulators.

The training course is part of a QFC Regulatory Authority initiative to encourage coordination and collaboration amongst Qatar's current financial regulators ahead of the much anticipated launch of a single financial regulator.

Welcoming the participation of Qatar's regulatory community, QFC Regulatory Authority Chairman and CEO Thorpe said:

"I am delighted that we and our partner regulators have been able to have access to such a valuable training experience. Such events are important in our efforts to deliver world class regulation for Qatar. In addition to hearing first hand about the practices and experiences of a leading international regulator, this training event has allowed us to share that opportunity with our future colleagues from the Central Bank and Market Authority. It is clear that Qatar's financial regulators share very similar goals and objectives. We are very keen to expand our collaborative efforts through joint training and other initiatives. It is important that we take every opportunity to foster co-operation and understanding between the existing regulatory bodies, as we move closer to the establishment of a single integrated financial regulator."