30 June 2024, Toronto - Canada: Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, and the Canada Arab Business Council (CABC), a not-for-profit association focused exclusively on promoting trade and investment between Canada and the Arab world, entered into a Memorandum of Understanding (MoU) aimed at establishing a framework for ongoing collaboration to develop specific sectors through joint initiatives, knowledge sharing, and strategic support.

Under the MoU, QFC and CABC will collaborate on initiatives aimed at fostering innovation and growth within QFC’s targeted sectors, such as financial services and professional business services, and facilitating business opportunities between Qatar and Canada.

Additionally, the two parties will exchange insights on innovation trends, product developments, and regulatory updates in their respective jurisdictions, fostering mutual learning and growth. They will also actively promote each other's programmes and activities at their respective events and platforms, enhancing their visibility and highlighting investment opportunities within the Qatari and Canadian markets.

Commenting on the partnership, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: “We are excited about this collaboration, which aligns with our mission to facilitate economic cooperation with key markets across the globe and commitment to fostering growth within QFC's priority sectors. By joining forces with CABC, we aim to expand our outreach and create valuable opportunities for businesses in Qatar.”

Commenting on the partnership, Dr. Mohamad Sawwaf, Chair of the Canada Arab Business Council, shared his perspective: "This strategic alliance between the Canada Arab Business Council and the Qatar Financial Centre marks a significant milestone in fostering economic collaboration and innovation between Canada and Qatar. By leveraging our combined strengths, we are poised to drive sectoral development, enhance knowledge sharing, and create valuable business opportunities that will benefit both regions. We are enthusiastic about the potential this partnership holds and are committed to supporting the growth and success of our member organizations through this collaboration."

This strategic alliance establishes a foundation for leveraging the strengths of QFC and CABC to advance their shared interests in promoting innovation, supporting business growth, and strengthening economic ties between Qatar and Canada.