Doha: Qatar Financial Centre (QFC) signed a memorandum of understanding (MoU) with the Ministry of Economic Development and Trade (MEDT) of the Republic of Maldives, further opening the door for domestic and international companies to become registered entities within QFC, enhancing Qatar’s position as a strategic business and commercial hub at the crossroads between East and West.

In a statement yesterday, QFC noted that through the MoU, QFC will conduct regular knowledge exchange sessions to share best practices in financial management, regulatory frameworks, and operational strategies.

Additionally, QFC will facilitate networking opportunities to foster partnerships with financial institutions, regulatory bodies, and industry experts.

Chief Executive Officer of QFC Yousuf Mohamed Al Jaida said: “We are honored to forge this strategic alliance with the Ministry of Economic Development and Trade in the Maldives. This partnership underscores our dedication to fostering lasting, impactful networks with global financial institutions and supports our aim to build a sustainable financial ecosystem that drives economic prosperity.”

He added that this partnership not only leverages QFC’s expertise and MEDT’s strategic vision but also strengthens the long-standing friendship between Qatar and the Maldives. The MoU is expected to bring significant benefits to both countries, fostering economic growth and development through enhanced cooperation and mutual
support.

In turn, Minister of Economic Development and Trade of the Republic of Maldives H E Mohamed Saeed said: “This MOU is a significant step towards establishing a robust international financial center. We are confident that our collaboration with QFC will provide invaluable insights and support.”

Since 2005, QFC has attracted over 2,200 firms, significantly contributing to Qatar’s economic diversification and growth.

© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).