Latest news with #AlJaida
Qatar Tribune
21-05-2025
- Business
- Qatar Tribune
Regulating digital assets requires evolving legislative frameworks
QNA Doha The Qatar Economic Forum 2025 Wednesday discussed the regulation of cryptocurrency and digital assets, emphasizing the need to develop advanced legislative frameworks that account for global economic and political changes. A forum session titled 'It's Time to HODL: Crypto Investor Outlook' examined the complexities of investing in digital assets, key opportunities, and risks, highlighting that traditional regulatory frameworks are no longer sufficient to govern the evolving sector. Speakers included CEO of Qatar Financial Centre (QFC) Yousuf Mohamed Al Jaida, CEO of BitOasis Ola Doudin, CEO of the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) Emmanuel Givanakis. Al Jaida stated that since 2018, QFC has been developing a comprehensive regulatory framework for digital assets, focusing on risk management related to anti-money laundering (AML), data protection, creating a secure investment environment. He noted that QFC has adopted a flexible approach aligned with market developments, while enhancing governance and compliance standards to reduce risks without stifling innovation. Panelists emphasized the importance of differentiating between cryptocurrencies and digital assets, clarifying that digital assets include tokenized assets unrelated to digital currencies. Al Jaida explained that Qatar Central Bank does not support direct cryptocurrency use, such as Bitcoin, leading QFC to focus regulatory efforts on asset tokenization, particularly in the real estate sector. He said that tokenization of real-world assets democratizes investment access and drives economic growth, adding that the Gulf real estate market holds significant opportunities for this transition. Speakers highlighted that some markets lack regulatory clarity, enabling unregulated platforms that pose risks to consumers and expose vulnerabilities for money underscored the importance of regional coordination among financial centers, noting that consistent policies across countries are essential for success, given differing regulations in the sector. Panelists also pointed to rising demand for cross-border payment tools and cryptocurrencies in the Gulf, signaling a shift in digital asset usage from speculation to practical economic applications. Additionally, growing institutional interest in digital assets, with major investors entering the market, is fostering maturity and confidence in the sector. In closing, speakers affirmed that the future of digital assets in the Gulf is promising, provided that regulatory frameworks continue evolving, regional cooperation strengthens, and transparency increases to protect investors. Such advancements will ensure sustainable growth for this rapidly expanding sector.
Qatar Tribune
19-05-2025
- Business
- Qatar Tribune
QEF highlights Qatar's strategic vision, global investment appeal: CEOs
QNA Doha The Qatar Economic Forum (QEF), Powered by Bloomberg, which is set to commence on Tuesday, stands as a testament to Qatar's deepening commitment to fostering international economic cooperation and driving global dialogue on pressing financial and investment issues. Senior executives from Qatar's key economic institutions emphasized the pivotal role of the Forum in reinforcing the country's global positioning as a major investment and financial hub. Speaking exclusively to Qatar News Agency, Mohammed Saif Saeed Al Sowaidi, CEO of the Qatar Investment Authority (QIA), highlighted that the forum mirrors Qatar's vision of global engagement. 'As a global economic hub, Qatar is capable of convening all leaders and experts from around the globe to come together and share ideas about economic issues and explore investment opportunities,' he said. Al Sowaidi stressed that QIA's participation in the Forum aligns with its mission of developing a robust and diversified investment portfolio that ensures long-term financial sustainability and benefits future generations. 'Guided by a far-sighted vision, QIA prioritizes long-term growth pillars such as the technology sector, digital transformation in healthcare, industrial transition in developing nations, and other strategic themes, while maintaining the agility to adapt to short-term market fluctuations,' he noted. QIA, Al Sowaidi said, rigorously assesses investments based on returns and associated risks. He expressed confidence in the sovereign wealth fund's adaptability amid ongoing global economic volatility, especially in light of shifting global trade policies, notably those under review in the United States. Echoing the significance of the forum, Yousuf Mohamed Al Jaida, CEO of the Qatar Financial Centre (QFC), described the QEF as 'a prestigious global platform' that continues to strengthen Qatar's reputation as a destination of choice for global investors. In his remarks to QNA, Al Jaida said the Forum has historically served as a strategic platform for QFC to forge strong relationships with international financial institutions and to promote Qatar's attractive investment environment. 'Our participation has directly contributed to attracting a number of leading companies to the Qatari market, reinforcing Qatar's position as a regional and international financial hub,' he said. Al Jaida recalled that in previous editions, QFC signed several Memoranda of Understanding (MoUs) with major international players, including Unicorns, the media company behind Unicorn Hunters, and the Hashgraph Association to support the deployment of Distributed Ledger Technology (DLT) in Qatar. Another key partnership was signed with Mastercard to develop fintech solutions and accelerate innovation in financial services. 'These partnerships reflect QFC's commitment to supporting Qatar's entrepreneurial ecosystem and to providing real growth opportunities for both local and international companies,' he added. As a strategic partner in this year's edition, QFC aims to spotlight its critical role in driving economic diversification and enhancing the business climate in Qatar. Al Jaida revealed that this year's Forum would enable QFC to explore new alliances in strategic sectors such as fintech, asset management, and professional services. One such key partnership being pursued is with the Ashmore Group, a global asset management firm specializing in emerging markets. Al Jaida will also take part in a prominent panel discussion titled Crypto & Digital Assets: Investing in the New Era, which will examine the future of cryptocurrencies and digital assets. The session will delve into regulatory frameworks, smart investment strategies, and the rapid transformation shaping the digital financial world. In conclusion, Al Jaida underscored that the Forum provides a unique opportunity for QFC to engage directly with global companies and demonstrate its competitive advantages, including an independent legal and regulatory framework, 100% foreign ownership, and generous tax exemptions. 'Through one-on-one meetings and panel discussions, QFC will introduce companies to growth opportunities in the Qatari market and offer the support they need to establish operations within our integrated business ecosystem,' he said. As Qatar prepares to welcome world leaders, entrepreneurs, and innovators to Doha for the Forum, the combined efforts of institutions like QIA and QFC are set to further enhance the nation's role on the global economic stage, amplifying its voice in shaping the future of global finance and investment.
