QFC and AIFC sign MoU to boost financial activities – The Peninsula

QFC and AIFC sign MoU to boost financial activities – The Peninsula

Doha: Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has signed a Memorandum of Understanding (MoU) with Astana International Financial Centre (AIFC) to develop long term cooperation and foster joint projects to stimulate activities in both international financial platforms.

The MoU’s primary objectives entail exploring a mutually acceptable regulatory framework to allow set up of relevant financial institutions and financial services providers, such as banking, Islamic and digital finance, capital markets, asset management and other financial services firms, within the AIFC and QFC ecosystems.

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC said, “We are proud to form this partnership with Astana International Financial Centre, a rapidly growing global business and financial hub as well as a leading driver of economic growth for Kazakhstan. Qatar Financial Centre is a key player in Qatar’s economic development and diversification, and over the years, we have proven that forming partnerships is crucial to realising our core objectives.”

Al Jaida added: “I am confident that the joint initiatives stemming from this partnership will drive significant growth in Qatar and Kazakhstan’s dynamic financial industry and lead to broader financial access in both countries.”

QFC and AIFC will also explore establishing mutual recognition of