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Qatar moves towards single market watchdog

13 Mar 2012

(MENAFN) The Qatari Finance Minister, Youssef Kamal, stated that the country is planning a shift towards having a single financial regulator, and thus, the governor of the Qatari central bank, Sheikh Abdullah bin Saud al-Thani, was appointed as the chairman of the Qatar Financial Centre Regulatory Authority (QFCRA), reported Reuters.

The finance minister justified the decision saying that a single market watchdog would add simplicity and more transparency for companies operating in the country.

Even though such plans had been announced back in 2007, this is the first actual move that was taken towards realizing them.

The minister noted that regulations between the two entities would be unified into a single set of regulations in the future.

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