Doha: The latest Global Financial Centres Index (GFCI 14) covering 80 financial centres published yesterday by the London based Z/Yen Group ranked Qatar as the top financial centre in the Middle East.
Qatar’s rating rose by 11 points, mainly driven by the economy’s strong growth prospects, improving infrastructure, international connectivity, low employee taxation and commitment to human development. Qatar moved up the overall ranking by 6 places from 30th to 24th place to achieve the top position in the region.
Professor Michael Mainelli, Executive Chairman of the Z/Yen Group, said: “In the Middle East, Qatar, Bahrain and Istanbul see significant increases in their rankings while other centres fall slightly.”
Shashank Srivastava, CEO and Board Member of the QFC Authority, added: “I am delighted that Qatar has been recognised as the leading financial centre in the Middle East. This latest index, and Qatar’s rise in the rankings, reflects how well the economy is performing, the attractiveness of the business environment and the world class standard of regulation. It is also testament to the government’s commitment to employee development and training, improvements to infrastructure, growing international connectivity and low taxation.”