CRF 2024 Spotlights Role Of Business Registries In Driving Economic Growth And Innovation

(MENAFN- The Peninsula) Deepak John | The Peninsula

Doha: The 20th Corporate Registers Forum (CRF) Annual conference 2024 held yesterday put spotlight on the pivotal role of business registries in driving economic growth and innovation in an evolving global landscape.

The event was hosted by the Qatar financial Centre (QFC) under the theme 'Innovative Registries – Business Enablers of the Future'. This marks the first time Qatar is hosting this prestigious event, attracting prominent representatives from over 50 member jurisdictions, CRF partner organisations, business leaders, industry professionals, and subject matter experts from across the globe.

Delivering the inaugural speech, Yousuf Mohamed Al Jaida, Chief Executive Officer at QFC highlighted QFC's vital role in fostering growth within the corporate sector.

Al Jaida noted that as a business and financial centre, QFC is committed to cope with the latest developments in company registration systems, related regulations and processes and equally dedicated to facilitating knowledge exchange, promote industry-leading insights and adherence to best practices.

He said,“Hosting the 20th Corporate Registers Forum in Qatar is a testament to the collaborative spirit and shared vision we uphold. This partnership-driven initiative not only strengthens our global connections but also highlights Qatar as a proponent of business excellence. We extend our heartfelt thanks to all our partners whose unwavering support has been instrumental in bringing this event to life.”

Qatar remains focused on high standards and economic diversification and sustainability and as“we advance in registry technology and modern regulatory practices, we are strengthening the local market to ensure the country continues to be a compelling choice for investors,” he said, adding that significant investments have been made to digitalise registry services, reducing administrative burdens and increasing transparency.

Al Jaida said, the e-services portal allows companies to manage their licenses, registrations and filings electronically supporting the national goal of boosting the ease of doing business here in Qatar.

Nasser Al Taweel Deputy CEO and Chief Legal Officer addressing the forum. Pic: Rajan Vadakkemuriyil

Louise Smyth, President, CRF addressing the forum. Pic: Rajan Vadakkemuriyil

The corporate registry in Qatar's is largely governed by the Ministry of Commerce and Industry and the QFC. Both comply with international standards on beneficial ownership and anti-money laundering regulations, aligning Qatar with the Financial Action Task Force (FATF) recommendations.

Throughout this conference“we aim to ignite meaningful discussions, foster networking opportunities and present actionable strategies to enhance the capabilities of registries. The sessions will provide valuable insights that empower registries to adapt to emerging challenges.

One highlight of this event is that for the first time at the CRF conference, we will discuss beneficial ownership, a vital topic for enhancing transparency, accountability and trust within our registries, ultimately supporting a sustainable growth of our economies,” Al Jaida added.

The first day of the conference explored key topics such as use of distribution ledger technology, leveraging registry data, role of legal entity identifier, future of registries, and regulation of company service providers.

It gathered renowned registry professionals and subject matter experts from CRF partner organiations, the World Bank, and the United Nations Commission on International Trade to explore key issues.

Also addressing the event, Louise Smyth, President, CRF, said,“This week the global corporate registry community converges on Doha for our showpiece annual conference, a four-day meeting of the world's most prominent experts in the field to discuss everything from the future of registries, enforcement challenges, anti-money laundering and beneficial ownership, as well as global cooperation.

We are honoured to be welcomed by our amazing hosts at the Qatar Financial Centre who have worked meticulously over the past 15 months to prepare an annual gathering that I'm sure will go down in the history books”.

From his part, Martin Fidler Jones the CRF General Secretary, said:“The CRF annual conference is the flagship event in the global registry community. The team at Qatar Financial Centre have surpassed all expectations to prepare what promises to be an unforgettable event that will see over 40 international experts from all around the globe deliver 18 conference sessions over four thematic days on the hottest topics in corporate registry practice.”

Nasser Al Taweel Deputy CEO and Chief Legal Officer, QFC noted,“We are proud to host the Corporate Registers Forum Annual Conference 2024 in Qatar for the first time and welcome registry professionals and experts from around the world. Hosting this event stresses QFC's dedication to nurturing a dynamic and transparent business environment which is a fundamental driver of economic development and diversification.”

The CRF 2024 will continue over the next three days, covering critical topics relevant to business registries, including Corporate Re-domiciliation, the Importance of Monitoring, Enforcement and Effective Penalty Regimes, and the Tokenisation of Shares. Regional breakaway sessions for Europe, Asia and the Middle East & Africa, along with updates from partner organisations and presentations of business registry insights will also be highlighted.

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