Page 11 - Annual Report 2022 EN

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Chairman’s Statement
I am pleased to present the QFCRA’s Annual Report for
2022, which highlights the work undertaken by the QFCRA
to ensure that it continues to support foreign direct
investment in Qatar, adopt global best practice in financial
services regulation, and protect consumers and investors.
The financial services sector in Qatar has placed the
development of capital markets at the forefront of its
focus in the upcoming years. The work done by the QFCRA
during 2022 through the issuance of the Professional
Investors Fund Rules and the development of the
framework for derivatives market exchange underscores
the QFCRA’s commitment to enhancing the capital
markets in Qatar and broadening access to capital for
Qatar’s companies and entrepreneurs.
During 2022, the QFCRA continued to align its policies
with the latest development in international standards with
amendments of its Banking Business Prudential Rules.
The amendments emphasise the QFCRA’s commitment
to ensuring its alignment with international best
practice, adopting a risk-based approach to regulation,
and ensuring the financial soundness of its firms.
The QFCRA played an important role in the successful
outcome of the FATF Mutual Evaluation of Qatar during
2022. I would like to commend the leadership provided by
the Qatar Central Bank (QCB) and National Anti-Money
Laundering and Terrorism Financing Committee, as well as
the support provided by the QFCRA Board and its staff
in delivering a positive outcome for the State of Qatar. We
are committed to ensuring, through implementing a world-
class regulatory framework, that Qatar’s financial services
sector is protected against illicit finance, and I am certain
that with our commitment to continuously improving
our framework, Qatar can be a leader both regionally
and globally.
T ABLE OF C ONTENT S
As the Second Strategic Plan (2017-2022) comes to a
conclusion, the QFCRA, QCB, Qatar Financial Markets
Authority, Qatar Central Securities Depository and
Qatar Stock Exchange commenced the work during
2022 to develop the Third Strategic Plan, which aims
to create a financial and capital market that leads the
region in innovation, efficiency and investor protection,
and positions Qatar to unlock its full economic
potential in line with the Qatar National Vision 2030.
With the Third Strategic Plan expected to launch in
2023, I am pleased to note that the QFCRA has
successfully achieved the goals set out for it in the
Second Strategic Plan. This success is attributable
to the focus and dedication of the QFCRA and its
staff, and to the high level of co-operation and
coordination among Qatar’s financial regulators,
who continue to work together with shared objectives
and a single vision.
The QFCRA and its Board of Directors extends its
gratitude to His Highness the Amir, Sheikh Tamim
bin Hamad Al Thani, to His Highness the Deputy
Amir, Sheikh Abdullah bin Hamad Al Thani and to His
Excellency, the Prime Minister, Sheikh Mohmmed
bin Abdulrahman bin Jassim Al Thani, for their
continuous support and assistance. The QFCRA is also
extends its thanks to all Ministries and government
bodies for their support of and co-operation with
the QFCRA in the discharge of its mandate.
His Excellency Sheikh Bandar bin
Mohammed bin Saoud Al-Thani
Governor of the Qatar Central Bank
Chairman of the Qatar Financial
Centre Regulatory Authority