Ministry of Economic Development and Trade has signed a Memorandum of Understanding (MoU) with the Qatar Financial Centre (QFC), marking a significant step towards enhancing business and financial ties between the two countries.

The agreement opens doors for domestic and international companies to register with the QFC, strengthening Qatar's position as a strategic business hub at the crossroads of East and West.

Under the MoU, QFC will offer regular knowledge exchange sessions, providing valuable insights into financial management, regulatory frameworks, and operational strategies. Additionally, QFC will facilitate networking opportunities, allowing companies to connect with financial institutions, regulatory bodies, and industry experts, thereby fostering valuable partnerships and collaborations.

Yousuf Mohamed Al Jaida, CEO of QFC, expressed his enthusiasm for the partnership, stating, "We are honoured to forge this strategic alliance with the Ministry of Economic Development and Trade in the Maldives. This partnership underscores our commitment to building lasting, impactful networks with global financial institutions and supporting the creation of a sustainable financial ecosystem that drives economic prosperity." Al Jaida highlighted that the collaboration not only capitalises on QFC's expertise and Economic Ministry’s vision but also strengthens the long-standing friendship between Qatar and the Maldives.

Economic Minister Mohamed Saeed echoed this sentiment, noting, "This MoU is a significant step towards establishing a robust international financial centre. We are confident that our collaboration with QFC will provide invaluable insights and support."

Since its establishment in 2005, QFC has attracted over 2,200 firms, playing a crucial role in Qatar’s economic diversification and growth. The MoU with the Maldives is expected to further accelerate economic development and foster greater cooperation between the two nations.