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QFC to focus on insurance sector
February 8, 2010
Qatar Financial Centre (QFC) has altered its strategy to focus on asset management, reinsurance and captive insurance, the head of its governing body said, in a move to compete with other Gulf financial hubs.
QFC, which began operating in 2005, had focused earlier on the expansion of financial services in the Gulf state. It allows 100 per cent ownership by foreign companies and all profits to be remitted outside Qatar.
More than 100 firms are now registered with the QFC, which is vying with financial zones in Dubai and Bahrain to attract regional and global finance companies, as their economies try to diversify from oil and gas revenues.
Original Posting At: Business247
QFC, which began operating in 2005, had focused earlier on the expansion of financial services in the Gulf state. It allows 100 per cent ownership by foreign companies and all profits to be remitted outside Qatar.
More than 100 firms are now registered with the QFC, which is vying with financial zones in Dubai and Bahrain to attract regional and global finance companies, as their economies try to diversify from oil and gas revenues.
Original Posting At: Business247
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