QFC registered over 800 firms in 2024 recording 156% growth
02/02/25
Qatar Financial Centre (QFC) witnessed record growth in 2024, welcoming 836 new firms to its platform recording 156% growth compared to 2023.
As a result, the total number of QFC registered firms is now 2,489 and combined assets under management are now worth QAR 120.12 billion (USD 33 billion). In addition the QFC community now encompasses over 11,700 employees, representing 153 nationalities. The firms registered in 2024 represent 90 countries, with the largest number of firms coming from the United Kingdom, Qatar, the United States, Jordan, Turkey, France, Lebanon and India. Notably, these firms span a wide range of activities and industries, including fintech, consulting services, media, IT and wealth management.
The QFC`s participation in the Web Summit 2024 in Qatar was instrumental in attracting 24% of technology firms registered. In order to encourage interest, the QFC offered compelling incentives to companies that opted to register during the Web Summit.
As part of its ongoing efforts to foster a dynamic investment ecosystem, the QFC signed 24 memoranda of understanding in 2024, including agreements with prestigious financial institutions such as Qatar Islamic Bank (QIB), Masraf Al Rayan, Dukhan Bank, the Hashgraph Association and the Chartered Institute for Securities and Investment. Moreover, the QFC established significant partnerships during the year, including a memorandum of understanding with Qatar Media City and a collaboration agreement with Qatar Science and Technology Park (QSTP), aimed at facilitating business setup in the State of Qatar
In 2024, the QFC hosted several blockbuster events, including the 20th Corporate Registers Forum (CRF) Conference. Also, in collaboration with Bloomberg, the QFC organised the Qatar Financial Markets Forum. Further notable events included the 7th International Conference on Islamic Finance, the Qatar Economic Forum, the Annual Conference of the Union of Arab Securities Markets and the Islamic FinTech Forum.
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