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Qatar Financial Centre reports huge rise in registrations

By Pramod Kumar
Qatar Financial Centre forged 12 MoUs with local and international organisations in the first half of 2024 Qatar News Agency
Qatar Financial Centre forged 12 MoUs with local and international organisations in the first half of 2024

Qatar Financial Centre (QFC), an onshore business and financial centre, reported a 230 percent year-on-year surge in new registrations in the first six months of 2024.

The financial centre registered 505 new companies during the period, taking the total count to more than 2,200, the state-run Qatar News Agency reported.

Person, Electronics, Mobile Phone

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The technology sector accounted for the largest share of registered companies at 38 percent, driven by special incentives offered at the Web Summit 2024 in Doha in February.

The financial services sector accounted for 10 percent of the new registrations. Most of these companies were from the UK, France, Jordan, India and the US.

QFC signed 12 memorandums of understanding with local and international organisations during the first six months.

Last week, Abu Dhabi Global Market, a financial free zone in the UAE capital, reported a 31 percent year-on-year increase in the number of registered entities to 2,088, including 231 in financial services.

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