Financial services gain prominence in Qatar

18 February 2013

Sector now accounts for 10 per cent of GDP

Doha’s financial sector has become an important part of Qatar’s economy.

“The contribution of the financial industry is an important part of the National Vision for 2030,” said Shashank Srivastava, chief executive officer, Qatar Financial Centre Authority (QFC) speaking at the MEED Qatar Projects 2013 conference on 18 February. “Financial services help diversification away from excessive dependence on hydrocarbons. Qatar has already made long strides. Finance, insurance and reinsure now account for 10 per cent of GDP.”

QFC was set up by the state in 2005 to facilitate the development of financial sector. The authority maintains regulatory system so that QFC meets international standards, together with providing other services such as dispute resolution.

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