QFC facilitates growing business ties between Qatar & Turkey

DOHA: The Qatar Financial Centre (QFC) has signed a Memorandum of Understanding (MOU) with AKDENIZ İNŞAAT VE EĞITIM HIZMETLERI A.Ş (Ağaoğlu Group), the largest real estate developer within the boundaries of the Istanbul International Financial Centre (IIFC) and entity responsible for construction of the infrastructure of IIFC.
The MoU came following a recent visit by a delegation from Ağaoğlu Group, which included Ali İbrahimağaoğlu, Chairman; Mehmet Burak Kutluğ, Executive Board Member and Chief Business Development Officer; Fariba Graham, International Advisor; Pınar Peker, International Advisor; and Hasan Okur, Group Lawyer.  The visit saw the delegation conduct high level meetings with senior officials from the QFC. They were also given a tour of the QFC’s current premises and were taken to Doha’s new integrated financial city; Msheireb Downtown Doha.
The agreement will provide a host of benefits including proactively exposing Turkish financial and professional services firms to the QFC, and to proactively provide Ağaoğlu with similar support as far as institutions based in Qatar are concerned.
Furthermore, both entities will aim to organise joint seminars and conferences on topics of mutual interest to Qatar and Turkey, as well as facilitate meetings with business delegations to promote their mutual interests.
This MoU will also encourage efforts to develop and improve applicable legal and regulatory frameworks; between Istanbul Financial Center and Qatar Financial Center and develop mutual access propositions in relevant business sectors wherever feasible between both financial centres.
Commenting on the signing of the MoU, Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority stated: “This agreement helps bring together two regional powerhouses to ensure the continued development and growth of the region, and further clarifies the importance of the bilateral relations between Qatar and Turkey.” He continued: “There are over 200 Turkish companies operating in Qatar with many joint ventures between Turkish and Qatari business people. This is a figure we anticipate will increase, and the QFC platform is one avenue that will help bring more Turkish companies to Qatar.”
Ali Ağaoğlu the chairman of the Ağaoğlu Group stated: “Qatar is one the most important strategic partners of Turkey in the region, in terms of trade and investments, who believed in the future growth and potential of Turkey. Agaoglu is the largest real estate developer in Turkey which developed more than 35 thousand residential and commercial units since 1981. We are also the key actor in the development of Istanbul International Financial Center which is approaching to its final stages of completion. QFC is a very good example of a modern and effective financial centre structure and thanks to their interest in IIFC, we are now proud to execute this MoU with them which we believe will establish the basis of a solid strategic partnership between IIFC and QFC.”
Al Jaida, Chief Executive Officer and Sheikha Alanoud bint Hamad Al Thani, Managing Director, Business Development, at the Qatar Financial Centre (QFC) Authority recently met with Ankara and Istanbul based investors and businesses looking to expand to Qatar.