Qatar Financial Centre (QFC) has signed a memorandum of understanding (MoU) with Ashmore Group, an emerging markets asset manager, to support the expansion of the country’s capital markets.
This strategic partnership is expected to bolster the local asset management sector through knowledge exchange and the development of investment solutions.
The collaboration between QFC and Ashmore Group, which manages assets worth $46.2bn, is aligned with Qatar’s broader vision of fostering a diversified, knowledge-based economy.
A key focus of the agreement is the cultivation of local talent within the financial services industry, which is critical to the nation’s long-term development plans.
QFC chief executive officer Yousuf Mohamed Al-Jaida emphasised the significance of the partnership, stating, “Ashmore Group’s deep expertise in asset management, combined with the QFC’s drive for financial innovation, makes this partnership a strong catalyst for long-term development.
“Through this collaboration, we aim to strengthen Qatar’s asset management sector and elevate our capital markets by introducing global best practices and innovative investment solutions.”
Ashmore Group CEO Mark Coombs expressed his company’s commitment to the region, saying, “Ashmore has a long history of investing in Qatar and is excited to partner with the QFC to deliver further development in Qatar’s financial services industry over the coming years.
“We also look forward to helping raise the profile of Qatar as a destination for international investors, in line with the ambitions of the National Vision 2030.”
The MoU marks a continuation of Ashmore Group’s engagement in Qatar, following the recent registration of the asset manager under QFC’s platform and the inauguration of its new office in the country.
The companies expect this move to enhance local investment activity and strengthen Qatar’s position as an emerging hub for asset management in the region.
The Qatar Financial Centre (QFC), situated in the heart of Doha, serves as an onshore hub for companies seeking to establish and expand their business operations in Qatar and the surrounding region.
Last week, Ashmore Group launched an office in Qatar to advise on investment opportunities and foster connections with local investors.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.