Toronto - Canada: Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, and the Canada Arab Business Council (CABC), a not-for-profit association focused exclusively on promoting trade and investment between Canada and the Arab world, entered into a Memorandum of Understanding (MoU) aimed at establishing a framework for ongoing collaboration to develop specific sectors through joint initiatives, knowledge sharing, and strategic support.

Under the MoU, QFC and CABC will collaborate on initiatives aimed at fostering innovation and growth within QFC’s targeted sectors, such as financial services and professional business services, and facilitating business opportunities between Qatar and Canada.

Additionally, the two parties will exchange insights on innovation trends, product developments, and regulatory updates in their respective jurisdictions, fostering mutual learning and growth. They will also actively promote each other's programmes and activities at their respective events and platforms, enhancing their visibility and highlighting investment opportunities within the Qatari and Canadian markets.

Commenting on the partnership, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: “We are excited about this collaboration, which aligns with our mission to facilitate economic cooperation with key markets across the globe and commitment to fostering growth within QFC's priority sectors. By joining forces with CABC, we aim to expand our outreach and create valuable opportunities for businesses in Qatar.”

Commenting on the partnership, Dr. Mohamad Sawwaf, Chair of the Canada Arab Business Council, shared his perspective: "This strategic alliance between the Canada Arab Business Council and the Qatar Financial Centre marks a significant milestone in fostering economic collaboration and innovation between Canada and Qatar. By leveraging our combined strengths, we are poised to drive sectoral development, enhance knowledge sharing, and create valuable business opportunities that will benefit both regions. We are enthusiastic about the potential this partnership holds and are committed to supporting the growth and success of our member organizations through this collaboration."

This strategic alliance establishes a foundation for leveraging the strengths of QFC and CABC to advance their shared interests in promoting innovation, supporting business growth, and strengthening economic ties between Qatar and Canada.

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ABOUT THE QATAR FINANCIAL CENTRE

The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region. The QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits. The QFC welcomes a broad range of financial and non-financial services firms.

ABOUT CANADA ARAB BUSINESS COUNTCIL (CABC)

The Canada Arab Business Council is Canada’s only not-for-profit association focused exclusively on promoting trade and investment between Canada and the Arab world. Since 1983, the Council has been the principal advocate for, and the driving force behind, Canada’s growing economic relations with Arab countries in the Middle East and North Africa region. CABC also works with Arab governments to promote economic relations with Canada.

MEDIA CONTACTS
Rasha Kamaleddine | E. r.kamaleddine@qfc.qa
@QFCAuthority | #QFCMeansBusiness