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Qatar Financial Centre Authority signs MOU with Pudong New Area Financial Services Bureau

Qatar: Wednesday, September 14 - 2011 @ 14:50

The QFCA and PFSB will cooperate in a number of ways including the exchange of information and organising common seminars and conferences on selected issues in Qatar or in Shanghai Pudong.

Shashank Srivastava, Acting CEO and Chief Strategic Development Officer of the Qatar Financial Centre Authority, commented, “We are delighted to strengthen our ties with Shanghai Pudong in whatever way we can for the mutual benefit of the financial and business communities of Qatar and Shanghai Pudong.”

“The QFC Authority is looking increasingly towards Asia to target the needs of the region’s asset managers, reinsurance and captive insurance firms,” he added. “We have already been in talks with some Chinese asset management companies keen to set up in Qatar and I hope our deepened relationship with the Pudong authority enables us to build further ties with local enterprises in Shanghai.”

The Qatar Financial Centre Authority welcomed the Pudong delegation as part of Shanghai’s outreach to interact with leading international financial centres. The delegation included Mr. Shi Haining, Director General of Pudong New Area Financial Services Bureau; Mr. Xu Lin, member of CPC Shanghai Committee and Secretary of CPC Pudong New Area Committee; and Mr. Bian Zuyao, Deputy Director General of Shanghai Customs.

Mr. Shi Haining said, “Our visit to Doha has been productive and rewarding and we are grateful to the QFC Authority for their hospitality. They have developed a very successful financial centre here in Qatar and we look forward to building closer and mutually beneficial relations with Qatar’s financial services sector through this MOU.”

The QFC Authority includes the Industrial and Commercial Bank of China among its licensed firms. Since 2008, ICBC has actively served Chinese industry operating in Qatar and the wider Gulf region.

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Wednesday, September 14- 2011 @ 14:50 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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