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CEO FOREWORD

Dear Colleagues,

I am pleased to share some significant updates on our recent progress.

First, I would like to highlight our H1 report published in August, which showcases QFC's best half-year performance since its inception. We achieved a record 505 firm registrations, a remarkable 230 per cent increase from 149 firms in the same period last year. Notably, 38 per cent of these new registrations are in the tech sector, and 10 per cent are in financial services. This reflects the positive impact of our efforts to position Qatar as a leading hub for innovation and finance.

We have maintained this momentum through the summer, registering 93 new firms in July and August.

Additionally, I am honoured to share that I have been recognised as one of the top CEOs in the region. This accolade is not just a personal achievement but a testament to our talented team's collective efforts. It is through their dedication, passion, and professionalism that QFC continues to thrive and make a meaningful impact in our industry.

With an exceptional team, I am confident that we will continue to build on our successes and seize new opportunities in the months ahead.

 

Sincerely,

Yousuf Mohamed Al-Jaida

Chief Executive Officer, Qatar Financial Centre

We are proud to welcome 93 new firms to the QFC platform during July and August 2024
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QFC News Highlights

Non-energy private sector continues to expand in July

505 New Firms Join QFC Platform in The First Half of 2024

Qatar's trade surplus jumps 2.5% to 20.13bn in July: NPC

QFC and CABC Forge Strategic Alliance to Drive Sectoral Development and Innovation

QFC Receives ISO Certification for Processing Immigration Services

Masraf Al Rayan and Qatar Financial Centre Authority Sign Memorandum of Understanding

QFC and QSTP sign workflow agreement to facilitate business establishment in Qatar

Business News Highlights

Qatar records budget surplus of QR2.6 bn in Q2 of 2024

Total value of Qatar's stock of gold hits QR30.7bn in July

Qatar's trade surplus jumps 2.5% to 20.13bn in July: NPC

Qatar's economy expected to double by 2031: Standard Chartered

Qatar Reduces Home Business Licensing Fees and Simplifies Procedures

Qatar ranks third in Mena, fifth globally in National Entrepreneurship Context Index

QR25.72 Bn Profits for Companies Listed on Qatar Stock Exchange in The First Half Of 2024

Qatar’s AI market to amount over QR1.5bn in 2024: Report

Strong GCC non-oil growth spurs Mena economic prospects

Central Banks Purchase 473.4 Tons of Gold in First Half of 2024

Why blending blockchain and AI could add $20 trillion to the global economy by 2030

How will the future of the global economy be affected by crypto?

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World Bank

Lending for climate investments in emerging markets represents less than 5% of banks’ cumulative portfolios, a World Bank report has revealed, calling on financial institutions to do more to support these investments.
IMF

IMF

The International Monetary Fund raised its expectations for global growth during the current year. The fund confirmed that it expects growth of 3.1% this year, compared to an increase of 2.9% expected in a previous report published in October 2023

S&P

S&P Global Ratings has indicated that the robust performance metrics of Gulf Cooperation Council (GCC) banks during the first half of the year suggest a strong finish for them in 2024. The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1.
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