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Qatar First Investment Bank gets QFC licence |
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Tuesday, 09 September 2008 |
Qatar First Investment Bank (QFIB), an Islamic financial institution,
yesterday received authorisation from the Qatar Financial Centre
Regulatory Authority (QFCRA) to set up operations at the QFC.
The investment bank, established by a number of prominent Qatari
individuals and institutions with support from individuals and
institutions around the GCC, plans to emerge as a significant Qatari
financial institution with eventual regional ambitions. It has been
allotted QFC Licence No. 91.
Phillip Thorpe (pictured), QFCRA Chairman and CEO, welcomed another major Islamic finance operator and said: “I am delighted to welcome QFIB to the QFC. We recognise the importance of attracting major Islamic financial institutions as part of aim of broadening Qatar’s financial services base.”
Stressing upon the need to encourage the continued growth of high-quality firms within Qatar’s financial services sector, Thorpe also underlined the importance of Qatari-owned institutions utilising the facilities offered by the QFC. He said this would ensure the country received the maximum benefits from the QFC’s efforts to create a strong and high-quality financial services environment.
“Over the last three years we have enjoyed significant success in attracting some of the world’s most well-known financial services firms to the QFC. They have established offices in Doha attracted by Qatar’s strong commitment to development and growth, and by the QFC’s world-class financial services laws and regulations,” said Thorpe.
“What makes this latest addition to the QFC especially satisfying is that QFIB is a Qatari-founded Islamic investment bank with a GCC-wide shareholder base and one which exemplifies Qatar’s ambition, energy and imagination,” the official said.
Peninsula
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