(MENAFN- Gulf Times) IPA Qatar, UBS sign MoU for financial services hub in Doha The Qatar Financial Centre (QFC) domiciled Investment Promotion Agency of Qatar (IPA Qatar) has signed a non-binding memorandum of understanding (MoU) with UBS, the world's preeminent global wealth management firm and a leading financial services provider.
In line with IPA Qatar's mandate to bolster Qatar's financial services sector by attracting leading institutions, the MoU sets forth a preliminary pact in principle for establishment of a significant UBS Wealth Management operation in Doha and collaboration on future opportunities supporting the development of Doha as a leading financial services hub.
The MoU also contemplates that IPA Qatar and UBS would negotiate and execute a definitive agreement in relation to mutually strategic nexus markets. In addition to strengthening the financial services market infrastructure in Qatar, the IPA Qatar-UBS MoU is also expected to support the acceleration of financial digitisation in Qatar, enhance efficient interaction between financial markets internationally, and support local talent development.
The MoU was signed yesterday by HE Ali bin Ahmed al-Kuwari, Minister of Commerce and Industry and the chairman of IPA Qatar, and Axel Weber, the chairman of UBS, and Ralp Hamers, UBS group chief executive in the presence of HE the Prime Minister and Minister of Interior, Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani and officials of both the organisations. Launched in 2019, the IPA Qatar, which is registered in the QFC platform, aims to smooth the way for investors' journeys to business success in Qatar, while transforming and diversifying one of the world's most prosperous economies.
In this regard, the agency acts as a gateway to all investment solutions in Qatar, with a focus on advancing ambitious investors' goals and accelerating their growth, in line with the nation's foreign direct investment roadmap and economic development goals. While opening the door to opportunities in all fields and disciplines, IPA Qatar actively pursues targeted, sector-specific investment promotion agenda.
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