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Thursday, November 26 - 2009

Qatar Financial Centre hosts Euromoney Awards

The Qatar Financial Centre was the principal host sponsor of the 2006 Euromoney Awards for Excellence in the Middle East, held at the Four Seasons hotel in Doha on 7 June.

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  • Qatar Financial Centre CEO Stuart Pearce (right) presents Raymond Audi, Chairman of Lebanon's Bank Audi, with the award for Outstanding Contribution in the Development of Financial Services in the Middle East.
    Qatar Financial Centre CEO Stuart Pearce (right) presents Raymond Audi, Chairman of Lebanon's Bank Audi, with the award for Outstanding Contribution in the Development of Financial Services in the Middle East.
Euromoney magazine have been recognizing banking and financial services organizations operating in the Middle East for the past 14 years, and are widely regarded as the region's premiere awards. This is only the second year that the awards event has been held in the Middle East.

The QFC Euromoney Award for Outstanding Contribution in the Development of Financial Services in the Middle East was presented by Mr Stuart Pearce, Chief Executive Officer and Director General of the Qatar Financial Centre Authority to Mr Raymond Audi, Chairman of Bank Audi of Lebanon.

Speaking at the presentation, Mr Pearce said: "It is fitting that we should be presenting this award.

"Our objective is not only to contribute to Qatar's development through the growth of its financial services, but also to support and deepen those of the region as a whole.

"This is an award which - I would like to announce tonight - we hope to make at future Euromoney Awards for Excellence in the Middle East.

"The award for best contribution to the development of financial services goes to a man who has spent 44 years in the banking industry. He established the first consortium merchant bank in the Middle East, and executed the first ever Lebanese pound transaction for a supranational and foreign corporate. He oversaw the consolidation of Bank Audi through 15 years of civil war and conflict in Lebanon, as well as the bank's subsequent international expansion."
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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.

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