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Qatar Plans to Set up Three Global Financial Centers

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Qatar Plans to Set up Three Global Financial Centers BUSINESSB | 01 SPORT | 11 Turkey one of Qatar hit the ‘safest countries’ training pitch in terms of ahead of Asian investment Cup opener Monday 7 January 2019 | 1 Jumada I 1440 www.thepeninsula.qa Volume 23 | Number 7764 | 2 Riyals Qatar plans to set up three global financial centers SATISH KANADY “We have a vision an alternative to the longer- THE PENINSULA to cover the entire established and larger Dubai globe’s Islamic International Financial Centre. Al Jaida said the UAE had Qatar is working on an ambi- financial transactions undermined the business model tious initiative with Malaysia between three of Dubai as a regional hub and Turkey to serve the $2 financial centers: during the blockade by forcing trillion global Islamic finance international companies oper- market by establishing hubs in Doha, Istanbul and ating in the region to set up an the three countries using Malaysia,” said Yousef alternative base to serve Qatar. common platforms and tech- Mohamed Al Jaida, As a result, the number of nology. CEO of the Qatar foreign companies operating in “We have a vision to cover the the Qatar Financial Center had entire globe’s Islamic financial Financial Centre (QFC) grown by 100 percent since the Linking cultures and nations through arts transactions between three Authority. blockade and Qatar now had the financial centers: Doha, Istanbul opportunity to challenge Dubai A troupe from the Czech Republic presenting a folk music show during the Cultural Diversity festival and Malaysia,” said Yousef as a hub in the Gulf region. held at the Katara Amphitheatre. The festival included 18 participating countries and was aimed at Mohamed Al Jaida, CEO of the similar visions, we share similar Qatar has attracted foreign linking cultures and nations together. Qatar Financial Centre (QFC) progressive outlooks... so there’s businesses by offering guar- Authority in a group interview on a lot to be achieved between antees that Doha will be a the sidelines of the recently-con- these three countries.” He did not cheaper base to operate from cluded annual Doha Forum. give time scales for the project. than Dubai, in return for a com- “This requires international The London Stock Exchange mitment to a minimum 10-year platforms and technology which is currently a global venue for presence. Guidelines issued for Sports Day activities we believe Qatar Financial the issuance of sukuk, while The Qatar Financial Centre Centre has”, Nikkei Asian Hong Kong and Luxembourg offers 100 percent foreign own- QNA must focus on physical, and also called for avoiding con- Review quoted Al Jaida as saying have also made inroads but ership, a legal and judicial DOHA awareness activities, avoid per- structing temporary artificial in its report. Qatar believes the market framework based on English formances and focus on sports tents or buildings for the The story, tweeted by should be led by Muslim coun- law, 100 percent repatriation of The Ministry of Culture and awareness activities that instil Sports Day, taking into account Qatar’s Ministry of Finance yes- tries, Al Jaida said. profits and other regulatory Sports has urged all entities exercising as a daily healthy the requirements of security and terday said, under the proposed According to Nikkei Asian advantages to attract businesses. participating in the Qatar Sports behaviour. safety during the organisation plan, Qatar would serve the Review, Malaysia is already one It compares itself to Hong Kong Day to commit to the standards It also said the events must of the events, this includes greater Middle East, Turkey of the world’s biggest issuers of in offering companies an access and regulations issued by the promote awareness among par- exploiting sports facilities, parks would cover Islamic finance sukuk, or shariah-compliant point to a wider market under Amiri Decision No. 80 of 2011, ticipants about the importance and public places. needs in Europe and Malaysia bonds, with 34 percent of the internationally friendly terms. for the plans being made for the of sport and its role in the lives The entities must commit would sell to Asia. global market last year. The Islamic banks in Qatar today event, to ensure achieving the of individuals and communities to offering healthy food, avoid “That’s a big vision, we’re Malaysian central bank signed account for over 25 percent of total desired goals especially those and that the proposed sporting fast food and refrain for distrib- working on it and this is a new a memorandum of under- financing in Qatar. As per data related to raising awareness on events are suited to the ages and uting free gifts and food to the project,” Al Jaida said. Relations standing with the regulatory available on public domain, the the importance of playing sports health conditions of the partic- public. between Qatar, Turkey and authorities of Qatar in 2007 to growth rate of Islamic banks in for all ages during the Sports ipants, in terms of activities and The statement recom- Malaysia had “intensified promote mutual cooperation. A Qatar in the first half of 2016 was Day which will take place on duration, in order to avoid mended moving away from recently and become a lot confident Qatar is pushing its 7.2 percent, outperforming their February 12. physical stress and injury. organising performances than closer,” he added. “We share financial centre aggressively as conventional counterparts. The Ministry said the events In its statement, the Ministry organising sports events. `P2 Al Dosari Zoo plans expansion before 2022 Cup New veterinary centre to SACHIN KUMAR centre, VIP area, an education among residents and the per person. Those who do not THE PENINSULA centre, labour camps and other expansion will address the need own a vehicle can come through come up in Abu Nakhla facilities,” Mohamed Mater of creating more space for Karwa bus. Al Dosari Zoo and Game Reserve Aldosari, Owner and Director of growing number of visitors. There is also a plan to SANAULLAH ATAULLAH laboration with Arab Organi- is planning to expand to welcome Al Dosari Zoo and Game Reserve “The average number of vis- expand parking space for THE PENINSULA sation for Agricultural Devel- more visitors expected from the told The Peninsula. itors coming to Al Dosari Zoo vehicles. “We have four parking opment (AOAD). upcoming 2022 FIFA World Cup. “The number of visitors and Game Reserve is 170,000 and all these remain full. We The Ministry of Municipality “The workshop aims at The Game Reserve and Zoo, coming to the park will increase per year while, on Friday, we plan to make a new parking and Environment (MME) repre- educating those working in the which is one of the oldest such that is why we are planning to receive 2,000 to 3,000 visitors,” space and a road on the backside sented by Animal Resources field of veterinary medicine at facilities in the country, is expand the park,” he added. said Aldosari. of the park,” he added. Department is preparing to the Ministry about international planning to add a new building The expansion plans also “Apart from residents, we He is planning to approach open a new veterinary centre scientific ways to detect the that will house a new exhibition setting up an education centre, keep on receiving many VIPs the government to get the addi- in Abu Nakhla under a project infectious diseases and epi- centre, VIP area and other facil- veterinary clinic for animals, a and high ranking official from tional land to expand the park. to provide quality healthcare demic to protect the livestock ities to attract more visitors. gym among other facilities. all over the world,” he added. “The zoo and game reserve services to the livestock farms in a bid to ensure food security “We plan to expand Al The designs and other infor- The zoo and game reserve is in operation since last 30 locally called ‘Al Azab’. in the country,” said Saleh Dosari Zoo and Game Reserve mation related to the building is has an animal safari park, a zoo, years. We have organic vege- The new project is part of a Jarullah Al Marri while for the World Cup. We are expected to be announced with an amusement park, exhibition table areas and nursery. We give massive plan of the Ministry to addressing a press planning to have a new building in two months. centre heritage and maritime saplings to students which they ensure self-sufficiency of the conference. which will have an area of The three-decade old Al museums, theatre area and a can plant in schools. We have country in production of meat He said the workshop will around 10,000sqm. The building Dosari Zoo and Game Reserve small market. veterinary doctors to look after and milk which assumed great also help to form a Rapid will have a new exhibition is hugely popular in Qatar There is an entry fee of QR10 animals in the zoo,” he said. importance after blockade. Response Team (RRT) with “Plans are afoot to open multiple specialisations and to another new veterinary centre implement the field work. “A in Abu Nakhla followed by two total of 20 trainees are partic- recently opened centres in Al ipating the workshop from four MoI's electronic link to ward off cyber attacks Wakra and Al Jamiliyah,” said sections of the Animal Saleh Jarullah Al Marri, Head of Resources Department of the Livestock Health Section at the Ministry,” said Al Marri. THE PENINSULA to double the number of linked entities,” he 2022 FIFA World Cup puts more responsi- Animal Resources Department He said that Qatar is safe DOHA said while addressing an awareness lecture bility on the country requiring promotion of of Ministry of Municipality and from any epidemic.
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