Qatar Financial Center (QFC) Regulatory Authority has authorized JP Morgan Chase Bank to undertake regulated activities in and from the QFC.
QFC said that the JPMorgan is a PIIB Prudential Category 4 firm and is authorized to arrange credit facilities, deals in investments, and the provision of custody services, as well as advising on investments.
QFC Regulatory Authority deputy CEO Michael Ryan said JPMorgan will bring its significant market and product expertise to the Qatar market and it will play a significant role in this important market and the region.
JPMorgan’s authorization brings the total number of firms licensed at the QFC to 128, as the recognition of QFC and its regulatory environment continues to grow as a regional hub for financial services.
QFC Authority is the body legally responsible for the development, operation and administration of the QFC. The QFC Authority has been designed to attract international financial services institutions and major multi-national corporations to share the vision of a long-term and mutually beneficial partnership with Qatar.