Doha, Qatar–The Qatar Financial Centre Authority (QFCA), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) have entered into a memorandum of collaboration (MoC) to pursue a range of strategic initiatives aimed at advancing the financial landscape with a specific emphasis on bonds and Sukuk
The scope of the collaboration encompasses organizing joint events that foster knowledge exchange, developing sound market infrastructures and building the necessary capacity to support Qatar’s bonds and Sukuk market.
Furthermore, the partnership extends to exploring opportunities to establish best standards and practices in the domains of sustainability and debt capital markets and pursuing cooperation in other areas within their fields of expertise and mutual interest.
Commenting on the MoC, Chief Executive Officer of QFC Yousuf Mohamed Al Jaida said, “This partnership underscores our shared mission with the QFC and MARC to strengthen financial infrastructures, stimulate market growth, and explore new avenues for mutual development. It also demonstrates the QFC’s unwavering commitment to bolstering Qatar’s financial ecosystem. Through this collaboration, we are poised to amplify our impact on setting high standards and catalysing growth in the financial market.”
Acting CEO of Qatar Stock Exchange Abdulaziz Nasser Al Emadi welcomed the signing of the Memorandum Of Cooperation (MoC) with the Malaysian Rating Corporation (MARC) and the Qatar Financial Center (QFC) and described it as a significant step towards exploring the best ways for close cooperation among the three parties to develop the fundamental structure of Qatar’s financial market, adopting best practices related to corporate performance, as well as strengthening public debt markets at the local and international levels.
“The Signing of this tripartite MoC will strengthen the existing excellent relationships between the Qatar Stock Exchange and other Qatari financial institutions with the Malaysian Rating Corporation and other financial institutions in Malaysia’s financial markets. These relationships are anticipated to serve shared interests and facilitate collaboration between the two parties,” Al Emadi stated.
Group Chief Executive Officer at MARC Datuk Jamaludin Nasir also commented on the MoC, stating, “This strategic collaboration with the Qatar Financial Centre and Qatar Stock Exchange marks another milestone for MARCs exciting transformational and growth journey. Together with QFC and QSE, we look forward to driving excellence in the bond and sukuk markets, promoting sustainability, and advancing the financial ecosystem in Qatar and beyond. This collaboration reflects our dedication to utilizing MARC’s capability and experience in contributing to the growth and development of the financial markets in Qatar and the region.”
This agreement between the QFCA, QSE and MARC to jointly carry out initiatives to advance the financial market will be governed by the principles of reciprocity and executed within the boundaries of the parties’ respective legal and regulatory frameworks.