Financial Services and SME Growth Opportunities for UK Companies
Qatar Financial Centre (QFC), one of the world's leading and fastest growing onshore business and financial centres, participated for the second consecutive year in 'Qatar - UK Financial Services' event, organised by the UK's Department for International Trade in partnership with the Qatar Central Bank and Qatar Development Bank.
Who attended the event?
The event was inaugurated by H.E. Sheikh Abdulla Bin Saoud Al-Thani, Governor of Qatar Central Bank, and William Russell, Right Honourable Lord Mayor of the City of London. The event saw the participation of high-level executives and senior representatives from both countries' leading national and financial institutions alongside the QFC, including the Ministry of Commerce and Industry; Qatar Central Bank; Qatar Investment Authority; Qatar Development Bank; Qatar Research, Development and Innovation (QRDI) Council; City of London; the Bank of England, and UK Export Finance.
The 2020 Qatar – UK Financial Services event follows 2019's highly successful inaugural event 'Qatar Day', which was hosted by the City of London Corporation. The event has grown into a unique forum for senior representatives from Qatar and the UK to further develop the strong ties that exist between the two countries' respective financial services sectors.
The event programme covered key themes across financial services and economic diversification, focusing on small and medium-sized enterprises (SMEs), Fintech and its regulatory environment, cybersecurity, and innovative payment solutions for a cashless FIFA World Cup Qatar 2022™
SMEs and Financial Services
Yousuf Mohammed Al-Jaida, Chief Executive Officer, QFC participated in a panel session entitled 'SMEs and Financial Services' alongside Abdulaziz Bin Nasser Al-Khalifa, CEO, Qatar Development Bank; Louis Taylor, CEO, UK Export Finance; Gavin Holland, Partner, Anthemis Group; and Vincent Keaveny, Partner, DLA Piper. The panel, which was moderated by Danny Lopez, Non-Executive Director and Advisor, Innovate Finance covered the role of financial services in Qatar's economic diversification plans, and focused on emerging sectors with high growth potential, such as SMEs and FinTech.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority said: "Qatar and the UK have been long known for their invaluable strategic business partnership, which has witnessed significant business milestones and mutual economic benefits that further strengthened the ties over the years. We are proud to be part of this partnership and to support UK firms in expanding their operations in Qatar. Our unique business ecosystem hosts more than 100 UK firms, operating under the QFC platform."
QFC has made significant strides to support the development of FinTech in Qatar, which ranks high on our 2022 Strategy. Our activity of non-regulated Professional Services firms has been widened to FinTech Services Providers. We already cemented numerous agreements with FinTech entities to provide our listed firms with an access to world's best practices and business models, and we recently joined the membership of the Global Financial Innovation Network (GFIN).