Qatar Financial Centre Regulatory Authority (Qfcra)

About Qatar Financial Centre Regulatory Authority The Qatar Financial Centre (QFC) is the financial and business centre established by the Government of Qatar in 2005 to attract international banking, insurance business and other financial services in order to grow and develop the financial services sector in Qatar and the region. The QFC offers domestic and international firms the opportunity to establish a broad range of banking, asset management and insurance businesses under a legal and regulatory regime that meets international best practice. The Qatar Financial Centre Regulatory Authority is the independent regulator of the QFC, established to authorise and regulate firms and individuals conducting financial services in or from the QFC. It has built a principles-based regulatory regime aligned with widely used common law, embracing transparency, predictability and accountability. In December 2012, the Law of the Qatar Central Bank and the Regulation of Financial Institutions (Law No. 13 of 2012) was enacted. The new QCB Law is an important step towards promoting financial stability across the State of Qatar and formalises the high levels of co-operation between the Qatar Central Bank, the Regulatory Authority and the Qatar Financial Markets Authority through the establishment of the Financial Stability and Risk Control Committee.