The QFC Authority has identified Islamic Banking and Asset Management as financial sectors of strategic importance for Qatar and is currently focused on the creation of a global business hub for these markets. Against this backdrop, the Regulatory Authority is responsible for developing and implementing sound regulatory frameworks that are conducive to this strategic vision.
An expanded regime for asset management
As part of its support for the QFC strategy to promote Qatar as a regional and international asset management hub, the Regulatory Authority launched its revised collective investment schemes regime in January 2011. The new schemes regime is contained in the Collective Investment Schemes Rules 2010 (COLL) and the Private Placement Schemes Rules 2010 (PRIV).
The new regime broadened the investor base to also include retail investors and expanded the types of asset management schemes that may be undertaken. In addition, the Regulatory Authority is proactively liaising with current and prospective authorised firms and government agencies developing investment management business. In support of the QFCA strategy, the Regulatory Authority is organising briefing sessions for global firms connected to the asset management industry and participates in leading international events to promote a better understanding of the QFC’s regulatory regime for asset management.
More information on the QFC’s asset management business regime can be found in “A Guide to the QFC Collective Investment Schemes Regime”