TAILIEUCHUNG - TheGlobal FinancialCentres Index11

The Global Financial Centres Index is a barometer , tracking the shifts of competitiveness in global financial centres, and over the last fewyears it has shown that Canada’ s economy isweathering the entered the downturn in better condition than many, becausewhen timeswere goodwe managed surplus budgets and kept down the national debt. Today Canada has the lowest ne debt to GDP ratio in the G-7. Forbesmagazine ranks Canada as the best country in theworld inwhich to do business. We have generous R&D tax incentives, first rate technology and innovation, a highly skilled workforce, investor protection and a lack of red tape. The OECD and the IMF predict that our economywill continue to be a leader. | The Global Financial Centres Index 11 MARCH 2012 FINANCE Financial Centre Futures 1-2012 The Qatar Financial Centre Authority sponsors Long Finance s Financial Centre Futures programme. Qatar Financial Centre QFC is a financial and business centre established by the government of Qatar in 2005 to attract international financial services and multinational corporations to grow and develop the market for financial services in the region. QFC consists of a commercial arm the QFC Authority and an independent financial regulator the QFC Regulatory Authority. It also has an independent judiciary which comprises a civil and commercial court and a regulatory tribunal. QFC aims to help all QFC licensed firms generate new and sustainable revenue streams. It provides access to local and regional investment opportunities. Business can be transacted inside or outside Qatar in local or foreign currency. Uniquely this allows businesses to operate both locally and internationally. Furthermore QFC allows 100 ownership by foreign companies and all profits can be remitted outside of Qatar. The QFC Authority is responsible for the organisation s commercial strategy and for developing relationships with the global financial community and other key institutions both within and outside Qatar. One of the most important roles of QFCA is to approve and issue licences to individuals businesses and other entities that wish to incorporate or establish themselves in Qatar with the Centre. The QFC Regulatory Authority is an independent statutory body and authorises and supervises businesses that conduct financial services activities in or from the QFC. It has powers to authorise supervise and where necessary discipline regulated firms and individuals. Z Yen Group thanks the City of London Corporation for its cooperation in the development of the GFCI and for the use of the related data still used in the GFCI. The author of this report Mark Yeandle is very grateful to other members of the GFCI .

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