Bangladesh Forum Qatar Joins QFC Platform

Doha, September 23 (QNA) - The Qatar Financial Centre (QFC) Authority officially welcomed the Bangladesh Forum Qatar (BFQ) as a registered business council on the QFC platform. Chief Executive Officer of the QFC Authority Yousuf Mohamed Al Jaida shared the official QFC license of the business council to President of the BFQ Iftekhar Ahmad during the opening ceremony of the Seminar on Foreign Direct Investment in Bangladesh, held in Doha. Other notable attendees included HE Minister of State for Foreign Affairs of the People's Republic of Bangladesh Shariar Alam, as well as HE Bangladesh Ambassador to Qatar Ashud Ahmed. Chief Executive Officer of QFC Authority Yousuf Mohamed Al Jaida said: "The Qatar Financial Centre welcomes the Bangladesh Forum Qatar to our platform. We are confident that this is a great step that will help the continued development of long and fruitful relations between Bangladesh and Qatar." Al Jaida added: "The QFC is looking towards developing existing partnerships in important markets such as Bangladesh and today marks a significant stride taken towards the growth of this important partnership. As a business council, the Bangladesh Forum Qatar will surely play a key role in facilitating bilateral investment between Qatar and Bangladesh." President of the Bangladesh Forum Qatar Iftekhar Ahmad said: "This is an initiative of Bangladesh Forum Qatar, a professional think tank consisting of Bangladeshi expats working and doing business in Qatar with a view to promote trade and investment between both the countries and help integrate Bangladeshis into Qatari society." HE Minister of State for Foreign Affairs of the People's Republic of Bangladesh Shariar Alam said: "Bangladesh is a country of huge potential. With a population of 165 million and a mobile penetration of 85 percent, Bangladesh has many things to offer to a country such as Qatar, which has one of largest sovereign funds in the world, as well as many other private funds." The BFQ is a non-profit business council founded by Bangladeshi professionals in Doha aimed at promoting the continued growth and development of trade and investment between Qatar and Bangladesh. The Bangladesh Forum Qatar joins other business councils from around the world already registered and licensed by the QFC including the Canadian, Singaporean, Portuguese, and Spanish business councils, as well as many others. The QFC is an onshore jurisdiction, allowing companies to operate in and from Qatar within the QFC legal and tax environment. The QFC endeavors to promote Qatar as an attractive business destination. Companies that wish to establish a business in the QFC are guided throughout by a dedicated QFC relationship manager who assists in the process of obtaining a license and offers support in matters related to operating a business in Qatar. QFC firms enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries. In addition, the independent Employment Standards Office (ESO) of the QFC embodies a unique Administrative Employment Dispute Resolution Centre accredited by the International Labour Organization (ILO), providing conciliation and adjudication services free of charge to help resolve workplace conflicts. The ESO is fully aligned with the Qatar National Vision 2030 and aspires to promote international best practices in the field of human capital. (QNA)