The Qatar Financial Centre (QFC), one of the world's leading and fastest-growing onshore business and financial centers, inked a Memorandum of Understanding (MoU) with the Special Adviser to the UN Secretary-General.
The MoU was signed by Chief Executive Officer of QFC Yousuf Mohamed Al Jaidah and Special Adviser to the United Nations Secretary-General Dr. Ahmed Al Meraikhi, in the presence of officials from both parties on the sidelines of Doha Forum, the region's leading annual policy and business conference.
The MoU, which builds on an agreement signed between both parties signed in May, will see increased collaboration between the QFC and the Special Adviser of the UN Secretary-General and aims to assist with the promotion of humanitarian challenges, raise awareness amongst the greater business community, and increase mobilization of Qatar's private sector on key global humanitarian issues.
Yousuf Mohamed Al Jaidah said: "We are honored to continue our work with the Secretary-General's Special Adviser who previously served as the UN Secretary-General's Humanitarian Envoy. The Qatar National Vision 2030 is strongly in line with the UN Sustainable Development Goals, and QFC is committed to mirroring the Nation's commitment to address and support the many developmental, humanitarian and social challenges of our time."
He added: "Qatar's private sector, as a major contributor to the development and prosperity of our country, should assume a social responsibility for the betterment of this Nation and beyond. The QFC is committed to engaging with its extensive business network to better serve humanity and act as an agent of social change."
For his part Dr. Ahmed Al Meraikhi said: "In 2020, nearly 168 million people will need humanitarian assistance and protection. This represents 1 in about 45 people in the world and is the highest figure in decades. With the scale of humanitarian needs fast outpacing the ability of traditional actors to respond, it is more important than ever to engage business in humanitarian action and to deliver innovative and efficient solutions. The QFC has demonstrated strong leadership both within Qatar in private sector engagement but also at a global level showing immense commitment towards achieving the Sustainable Developments Goals and helping those most in need."
The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.