The Qatar Financial Centre reported record expansion in 2024, with 836 new firms joining its platform, a 156% increase from 2023. The additions took the total number of QFC firms to 2,489, with combined assets under management exceeding USD 33 billion and a community of more than 11,700 employees across 153 nationalities. Registrations in 2024 covered firms from 90 countries, led by the United Kingdom, India, the United States, Jordan, Turkiye, France, Lebanon, and Qatar, spanning activities including fintech, consulting, media, information technology, and wealth management. Technology firms made up the largest share of new registrations at 26%, which QFC linked to its participation in Web Summit Qatar and related registration incentives. During the year, QFC signed 24 memoranda of understanding, including with Qatar Islamic Bank, Masraf Al Rayan, Dukhan Bank, the Hashgraph Association, and the Chartered Institute for Securities and Investment, alongside arrangements with Qatar Media City and Qatar Science and Technology Park to facilitate business set-up. QFC also advanced its Digital Assets Lab, which started activities with 29 participants, and issued a Digital Assets Framework setting legal guidelines for digital asset creation and regulation, including tokenisation processes, ownership-rights recognition, custody arrangements, and transfer, exchange, and transaction mechanics.
Qatar Financial Centre 2025-01-29
Qatar Financial Centre reports record 2024 growth with 836 new firms and over USD 33 billion in assets under management
The Qatar Financial Centre (QFC) reported a record expansion in 2024, with 836 new firms joining, marking a 156% increase from 2023, bringing total assets under management to over USD 33 billion. Registrations spanned 90 countries, with technology firms comprising 26% of new entries, driven by QFC's participation in Web Summit Qatar. QFC also issued a Digital Assets Framework and signed 24 memoranda of understanding to enhance business set-up and digital asset regulation.