Page 45 - Annual Report 2022 EN
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2023 highlights
Macroprudential Analysis
In 2023, the Macroprudential Analysis department Strategic Plan Innovation in Project Management
provided insights on macroeconomic and financial
stability to supervisory staff, senior management, and In 2023, the QFCRA contributed its expertise to the With digital innovation and advanced technologies
the Board of Directors. Macroprudential surveillance development of the Third Financial Sector Strategic as a main cross-cutting theme of the 3FSS,
operates alongside microprudential (entity level) Plan (3FSS). This involvement included active QFCRA adapted its cloud-based Microsoft project
surveillance to assist supervisors in their efforts to participation workshops with key stakeholders, including management solution, Project for the Web, to
prevent or mitigate the effects of risks identified. the QCB and QFMA. With the aim of enhancing the provide transparent real time reporting and
financial sector’s resilience and alongside the QCB tracking of progress on the projects under the
Macroeconomic analysis and macroprudential and QFMA, the QFCRA contributed to developing and 3FSS. The QFCRA is also developing an Extranet
surveillance assisted the QFCRA in identifying and identifying potential initiatives under the 3FSS. Portal for the 3FSS stakeholders. The Extranet
assessing the impact of several external factors on the Portal will serve as a document repository to
broader domestic economy as well as the financial share all 3FSS information and provide a seamless
services sector, delivering value-added quantitative and digital experience, ensure documentation of the
Financial Sector Strategy
qualitative information for forward-looking monitoring. 3FSS and bolster knowledge transfer among
The department held regular meetings with its key The QFCRA serves as the host for the Financial stakeholders and future staff in the financial sector.
stakeholders to identify and examine key risks to Sector Strategy Office (Ro’ya), collaborating
domestic financial stability and has prepared input for closely with the QCB, QFMA, QFCA. Qatar Stock
the quarterly Financial Stability Indicators Report for Exchange (QSE), and Edaa (previously known as
the Financial Stability and Risk Control Committee. QCSD), and Qatar Development Bank (QDB).
This collaboration is focused on coordinating
and contributing to various multi-year financial
Enterprise Risk Management (ERM) sector regulatory projects and deliverables
under the umbrella of the 3FSS, which was
Throughout the year, the ERM department submitted inaugurated on November 27, 2023. The team
4 reports to the Audit and Risk Committee. The is further strengthened by the inclusion of three
department leveraged its real-time interactive risk seconded members, one from each of the QFMA,
management dashboards and developed an additional QFCA, and QSE, enhancing the project with a
two reports to assist the department in its risk analysis. diverse range of insights. A key objective of the
FSSO is to foster the exchange of knowledge
In 2023, the ERM department developed a detailed and expertise regarding the financial regulatory
action plan involving internal stakeholders to address framework and the broader financial ecosystem.
and mitigate exogenous risks that may impact the
The QFCRA is leading on 35 projects
QFCRA. The action plan, which was presented to
under 3FSS relating to digital assets,
the CEO’s Committee, is designed to proactively
consumer and investor protection and the
address potential external threats that could impact
legal framework for capital markets.
the QFCRA’s performance, stability or reputation.
