Page 6 - Annual Report 2019

03 ANNUAL REPORT 2019

The Financial Stability and
Risk Control Committee

The Financial Stability and Risk Control Committee (FSRCC) was
created under Law No. 13 of 2012, Article 116. The committee was
formed to enhance co-operation and information exchange among
Qatar’s three regulators: the Qatar Central Bank, the Qatar Financial
Markets Authority and the QFC Regulatory Authority. The committee
is chaired by His Excellency Sheikh Abdulla Bin Saoud Al-Thani,
Governor of the Qatar Central Bank. Its membership includes His
Excellency the Deputy Governor and the Chief Executive Officers of
the Qatar Financial Markets Authority and the Regulatory Authority.

The committee’s operational objectives are to provide an early
warning system, to identify, monitor and analyse risks and
vulnerabilities in the financial system as a whole, to propose possible
remedies, and to enact these remedies to ensure a safe, sound
and solid financial system. Aligned with the goals and objectives of
the Qatar National Vision 2030 and the Second Strategic Plan for
Financial Sector Regulation 2017-2022, the work of the committee
focuses on the analysis of potential risks resulting from services, works,
activities and financial markets, and the issuance of relevant solutions
and proposals; the coordination between regulatory, supervisory
and oversight authorities in the State, with the goal of strengthening
the co-operation and the exchange of information among them
to result in a consistent regulatory and supervisory environment;
and the creation of policies relating to organisation, control and
supervision, including licensing, anti-money laundering, and other
policies pertaining to services, works, activities and financial markets.