Podcast
Questions and Answers
What is the primary function of the QFC Authority as established under the QFC Law?
What is the primary function of the QFC Authority as established under the QFC Law?
- To oversee the commercial operations of the QFC (correct)
- To regulate stock exchanges in Qatar
- To provide education on financial services
- To manage all banking operations in Qatar
Which of the following activities is NOT permitted under the QFC Law?
Which of the following activities is NOT permitted under the QFC Law?
- Pension fund business
- Retail banking operations (correct)
- Insurance broking
- Investment fund business
In what year was the QFC Law originally signed into effect?
In what year was the QFC Law originally signed into effect?
- 2005 (correct)
- 2010
- 2000
- 2009
Which of the following is one of the activities managed by the QFC Authority?
Which of the following is one of the activities managed by the QFC Authority?
Which legal entity was established to manage dispute resolutions within the QFC framework?
Which legal entity was established to manage dispute resolutions within the QFC framework?
Flashcards
What is the QFC Law?
What is the QFC Law?
The QFC Law outlines the structure of the QFC, including the QFC Authority, Commercial Court, and Regulatory Tribunal.
What does the QFC Authority do?
What does the QFC Authority do?
The QFC Authority is responsible for managing the commercial operations of the QFC.
What activities are permitted in the QFC?
What activities are permitted in the QFC?
The QFC Law allows a wide variety of financial, banking, and investment activities, including Islamic banking and insurance.
What are some specific activities permitted in the QFC?
What are some specific activities permitted in the QFC?
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What type of professional services are allowed in the QFC?
What type of professional services are allowed in the QFC?
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Study Notes
QFC Law and Objectives
- QFC Law (Law No. 7 of 2005) established the Qatar Financial Centre Authority (QFC)
- Became effective on May 1, 2005
- Amended by Law No. 2 of 2009
- Set the basic structure of the QFC
- Established the QFC Authority, QFC Regulatory Tribunal, Commercial Court etc
- QFC Authority manages commercial operations of QFC, pursuant to Article 3 of the QFC Law
Permitted Activities
- QFC Law limits permitted activities
- Activities detailed in the law include Financial, banking, and investment, Insurance, Money market and dealings in precious metals, stocks, bonds, etc., Management of funds, Pension Funds, Insurance broking, Stockbroking etc
- Includes types of legal and professional services.
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Description
Test your knowledge on the Qatar Financial Centre Authority established by the QFC Law No. 7 of 2005. This quiz covers the key provisions, permitted activities, and structural framework of the QFC. Explore the significance of this regulatory framework in Qatar's financial landscape.
