Qatar Financial Centre Regulatory Authority

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Qatar Financial Centre Regulatory Authority
QFC logo.jpg
Headquarters Doha, Qatar
Key People Michael Ryan, CEO
Website http://www.qfcra.com/

The Qatar Financial Centre Regulatory Authority (QFCRA) was established by statute in May 2005 to oversee all financial services in the Gulf emirate as the independent regulatory body of the Qatar Financial Centre.[1]

The QFCRA operates under a principles-based regime, with operations and rulebooks drawn heavily from the Financial Services Authority. It is headed by Phillip Thorpe, a former managing director at the UK Financial Services Authority who also spearheaded the creation of the Dubai Financial Services Authority.

The authority is one of two financial regulators in Qatar, alongside the country's central bank, but plans were announced in July 2007 to unify the oversight structure. Legislation for the combination is expected to be introduced in September 2008.[2]

Key People

References

  1. Annual Report 2006. QFCRA.
  2. Qatar lifts standards by unifying regulator. Financial Times.