Page 12 - Annual Report 2020

/ 07 QF CR A ANNU AL REP OR T 2020

Chairman’s Statement

I am pleased to present the QFC Regulatory Authority’s Annual

Report for 2020. The Annual Report highlights the work undertaken

by the Regulatory Authority to ensure that the Qatar Financial

Centre (QFC) continues to create a supportive and attractive
avenue for foreign direct investment in Qatar and the region.

The Annual Report highlights important achievements in 2020

in key areas of supervision, policymaking, local and international
cooperation and building human capital. These initiatives have been

undertaken to ensure that the QFC remains a leading regional and

global financial centre, and to ensure that its long-term contribution

to Qatar and the National Vision 2030 remains focused. This
long-term contribution depends on a clear vision for the role of

the QFC and its contribution to Qatar and a strong commitment

to the implementation of international best practices in financial

regulation and AML/CFT to ensure confidence and sustainability.

In this regard, I am pleased that the Annual Report emphasises

the importance that the Regulatory Authority places on the

implementation of international standards and best practice
and, more broadly, its engagement with international standard

setters and peer regulators globally. The commitment to effective

implementation of international standards provides an important

foundation for the Regulatory Authority’s work, as it continues to
focus on meeting the challenges and opportunities presented by

economic and financial developments, and positioning the financial

sector to ensure that it is innovative and able to respond quickly and

proactively to changing technologies and market developments.

T ABLE OF C ONTENT S