The QFC Authority is responsible for the development and administration of these Regulations under the QFC Law (9 March 2005).
The four draft regulations that are issued are:
• Anti Money Laundering Regulations: governing the prevention, detection and combating of money laundering in or from the QFC
• Companies Regulations: enabling the incorporation and registration of companies in QFC
• Contract Regulations: governing contractual relationships within the QFC
• Insolvency Regulations: governing the administration of QFC firms with financial difficulties
The QFC seeks comments on these Regulations from the international financial and legal community prior to their enactment by H.E. Sheikh Mohamed Al Thani, Minister of Economy and Commerce of the State of Qatar and Chairman of the QFC Authority in accordance with Article 9 of the QFC Law. Comments are requested within the next thirty (30) days and may be forwarded to the QFC Regulatory Authority.
Commenting on the issuance of these draft Regulations for comment, H.E. Sheikh Mohamed noted:
"Since our opening on the 1st of May work has been underway to complete the construction of the QFC legal environment and I am delighted that we are able to issue this latest tranche of Regulations for information and comment. These will take us a long way towards ensuring the QFC operates to the highest international standards and shows our commitment to global best practises."
Browse
related articles
Qatar Financial Centre Authority issues major regulations for public comment
- Qatar: Monday, August 01 - 2005 at 14:08
- PRESS RELEASE
Related content
The Qatar Financial Centre Authority ('QFC Authority') has issued for public comment four draft Regulations that will apply within the Qatar Financial Centre ('QFC').
Article Options
Log in to request more information from Qatar Financial Centre (QFC)
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, August 01 - 2005 at 14:08 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue May 30 2006.
Notes and Media Contacts »
The publication of these regulations for consultation follows the enactment of the Financial Services Regulations, the key law for financial services regulation in the QFC, on 17 May 2005, and constitutes an important next step towards completing the legal and regulatory framework governing operations in the QFC. The QFC Authority expects to publish for comment in the coming weeks draft Regulations on limited liability partnerships, arbitration, data protection and tribunal and dispute resolutions. All enacted Regulations and draft Regulations issued for comment are available on the website of the Regulatory Authority.
Media Contact:
Jamie Orchard
Chief Operating Officer and MD Legal and Regulatory Compliance
QFC Regulatory Authority
Telephone: +974 494 5491
Mobile: +974 5202481
Qatar recently established the Qatar Financial Centre. On the 9th March this year, new legislation was ratified enabling the QFC to have an internationally recognisable, best-in-class business and legal infrastructure run by a commercial authority and an independent regulatory body, the QFC Authority and the QFC Regulatory Authority respectively. The QFC formally opened for business on 1st May 2005, and is now receiving applications.
Media Contact:
Jamie Orchard
Chief Operating Officer and MD Legal and Regulatory Compliance
QFC Regulatory Authority
Telephone: +974 494 5491
Mobile: +974 5202481
Qatar recently established the Qatar Financial Centre. On the 9th March this year, new legislation was ratified enabling the QFC to have an internationally recognisable, best-in-class business and legal infrastructure run by a commercial authority and an independent regulatory body, the QFC Authority and the QFC Regulatory Authority respectively. The QFC formally opened for business on 1st May 2005, and is now receiving applications.
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
