Firms flock to new centre
Membership of the Qatar Financial Centre (QFC) is set to double as regional and international firms join the new financial hub. 'We've issued 24 licences and have about the same number in the pipeline,' QFC chief executive officer and director general Stuart Pearce said at the MEED Capital Markets conference in Dubai on 20 November. 'We offer a different platform [from other financial centres], different regulatory and legal structures and are in an asset-backed economy.' On the same day, the QFC Regulatory Authority granted a licence to AXA Insurance (Gulf), a subsidiary of France's AXA Group, to operate in the centre.
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