The Qatar Financial Centre (QFC) Authority, a leading onshore financial and business centre in the region, held a special virtual celebration of Qatar National Day 2020, centred on the faith foundations on which the country was founded, as conveyed in this year’s slogan, “We Praise You, O Possessor of the Throne, the Dominion and Bestowal. And are contented with Your Judgement in every deed”.

Commemorating Qatar’s distinguished culture, rich legacy and wealth, the QFC maintained its annual celebration to staff and the wider QFC community, while adhering to the COVID-19 precautionary measures. The digitised celebration also offered an ideal opportunity to reflect on the nation’s core values - freedom, strength, and resilience – and particularly in an unprecedented year of global economic slowdown brought about by the spread of pandemic.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority kicked off the virtual event with an opening speech followed by Faisal Rashid Al-Sahouti, Chief Executive Officer, Qatar International Court and Dispute Resolution Centre (QICDRC); Dr. Khalid Mohammed Al-Horr, Chief Executive Officer, Qatar Finance and Business Academy (QFBA) and Michael Ryan, Chief Executive Officer, Qatar Financial Centre Regulatory Authority (QFCRA). 

In his virtual address to the QCF community, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority, said: “Even though we are holding an unusual virtual celebration this year, I believe honouring Qatar and its people today is more worthy than ever. The Qatar National Day 2020 comes amidst the COVID-19 pandemic, which has changed how we interact with one another and ushered in a new normal era to everyday life.”

Al-Jaida added: “However, and against all the odds, we are celebrating another year of our nation’s excellence, strength and economic resilience, which is evidenced in the wise vision and management of Qatar’s leadership, and symbolises an unparalleled model for others to follow. Proudly, Qatar is leading the economic recovery in the region with a promising outlook for 2021, reflected in the positive projections by world renowned organisations such as the International Monetary Fund and the World Bank.” 

Michael Ryan, Chief Executive Officer, Qatar Financial Centre Regulatory Authority (QFCRA) said: “This year, Qatar has a lot to celebrate with the country’s collective efforts to curb the spread of the virus, and continued productivity and proactivity in every sector despite the challenges. On National Day, we celebrate Qatar’s history and legacy, but also its achievements and resilience in 2020. To that end, on behalf of the Regulatory Authority, we’d like to thank His Highness Sheikh Tamim Bin Hamad Al Thani, the Amir of Qatar, the country’s leadership, and front-line workers for their hard work in taking every measure to protect the people of Qatar during this unforgettable year.”

Commenting on the occasion, Dr. Khalid Mohammed Al-Horr, CEO, Qatar Finance and Business Academy (QFBA) said: “On this day, I am pleased to convey to the Emir His Highness Sheikh Tamim bin Hamad Al Thani and the citizens and the residents of Qatar my best wishes and warmest congratulations, and as always, we are renewing our vow to continue our march of giving and exerting our efforts to serve our beloved homeland with the needed precautionary measures imposed on us by the current Covid-19 pandemic”
Al-Horr added: “At the Qatar Finance and Business Academy, we will continue to play our role in human capital development and finance education to provide the financial services and the banking sector with the necessary competencies needed to continue the journey for Qatar’s progress and development.”

While wishing everyone in Qatar a happy National Day and acknowledging the Court’s 10-year anniversary, Faisal Al-Sahouti, CEO of QICDRC, commented: “The past decade has seen many achievements for the Court and the country. As we celebrate National Day this year, we are reminded of our community’s unwavering solidarity and collaborative ability to overcome challenges, especially during the COVID-19 pandemic, as well as our joint efforts in achieving the Qatar National Vision 2030. The Court is proud to be a contributor on Qatar’s path to excellence, and we will continue to overcome challenges together to work towards a brighter future for the entire country.”

Commenting on the occasion, IPA Qatar’s CEO Sheikh Ali Alwaleed Al-Thani said: “Despite the challenges imposed by the pandemic, Qatar’s leadership, people, and economy continue to show resilience. This year, the Qatar National Day is an auspicious occasion to reaffirm our values and achievements. As we celebrate this special day, we’re also envisioning an even brighter future with our national, as well as international partners.”

The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double taxation treaty network with over 80 countries, a legal environment based on English common law and the right to trade in any currency.