Qatar Financial Centre inks deal with ICAI to aid Indian firms in the country

By Shilpa Annie Joseph, Official Reporter
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The Qatar Financial Centre (QFC) has signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of India (ICAI) to create possibilities for accountants, promote entrepreneurship, and enable the establishment of Indian enterprises in Qatar through collaborative activities.

The agreement will pave the way for QFC and ICAI to work together more closely on mutually beneficial initiatives, such as expanding possibilities for ICAI members in assurance and auditing, advising, taxes, financial services, and other related fields.

Through this partnership, both entities will extend support to Indian businesses looking to open an office in Qatar, and explore the available opportunities via joint roundtables, networking events, and other exchange programs.

Yousuf Mohamed Al Jaida
Yousuf Mohamed Al Jaida

“The signing of the agreement with one of India’s most respected institutions marks yet another important step in our efforts to strengthen human capital and promote entrepreneurship in Qatar. Through this partnership, both QFC and ICAI will work toward enabling entrepreneurs, investors, and innovators from India to use our platform and set up their ventures in Qatar to become part of Qatar’s robust market. Supported by Qatar’s dynamic business ecosystem and our strategic location, this agreement will further enhance the state of Qatar’s financial services sectors in years to come.”

“This is a stride forward to work closely with each other drawing synergies from the professional expertise available at either end especially in areas of auditing, assurance, financial services, taxation, and alike. The signing of this MoU between ICAI and QFC has opened many windows of opportunities for Indian chartered accountants and would, in turn, be an impetus for the growth of economies at both ends,” said Mr. Nihar N Jambusaria, President at ICAI.

Ambassador of India to Qatar HE Deepak Mittal said, “India and Qatar share cordial relations and the important contribution that the Indian community is making in Qatar has strengthened the deep-rooted friendship of the two countries. It is a very welcome step that the two organizations have come together for the benefit of the accountancy fraternity at either end.”

Furthermore, QFC and ICAI will collaborate to nurture and develop local Qatari professionals, entrepreneurs, and students through specialized training. It will also explore the possibilities of the study exchange program for QFC and ICAI employees, and collaborate on opportunities that may arise in the fields of corporate governance, technical research and advice, quality assurance, forensic accounting, and other fields.

Related: QFC follows Singapore’s path to become global financial services hub