Credit Suisse filed an application for a financial services licence with the new Qatar Financial Centre in December 2005. Pending approval from the Qatar Financial Services Authority (QFCRA), Credit Suisse plans to establish a subsidiary in Doha during the first half of 2006. Through its new office Credit Suisse expects to provide high net worth individuals and institutional clients with a comprehensive range of products and services responding to the dynamic development and fast growing demand in Qatar.
Joachim H. Straehle, Head of Private Banking Asia/Middle East/Russia commented:
"Credit Suisse has had a long-standing relationship with Qatar. The opening of the new Qatar Financial Centre has provided us with a unique opportunity to set up onshore operations in this steadily growing market thus reinforcing our commitment to the entire Gulf Region."
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It provides infrastructure, premises and administrative services to international financial services institutions and major multi-national corporations and encourages 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 doing business within the QFC. The QFC has been open for business since May 1, 2005.
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Posted by Anne-Birte Stensgaard, Senior News Editor
