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Article: Rewriting the rules: Qatar's decision to unify all of its financial services authorities in a single regulator will help it close the gap on Dubai and Bahrain. But the repurcussions could go much further.(QATAR)(Cover story)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- July 20, 2007
- Author:
CopyrightCOPYRIGHT 2007 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After decades of piecemeal reform, Qatar has followed up on its long-awaited promise to harmonise its financial sector by unifying its various regulatory agencies into a single financial authority. The organisation, as yet unnamed, was announced on 16 July and could transform Doha's position as a regional financial centre. Through an innovative structure, the new entity will oversee all banking, insurance, securities, asset management and other financial services by 2010.
With state revenues swelling from record oil and gas production and a $130,000 million projects blitz, companies are flocking to take advantage of Doha's fiches. But while the flow of money has ...