QFC Signs MoU with ICAI

Doha, July 04 (QNA) - Qatar Financial Centre (QFC) has signed a Memorandum of Understanding (MoU), via video conference, with the Institute of Chartered Accountants of India (ICAI) to create more opportunities for accountants, promote entrepreneurship, and facilitate the setup of Indian firms in Qatar through collaborative initiatives. The MoU was recently signed by Chief Executive Officer of QFC Yousuf Mohamed Al Jaida, and President of ICAI CA Nihar N. Jambusaria. The agreement will pave the way for closer collaboration between QFC and ICAI on mutually beneficial initiatives, including increasing opportunities for ICAI members in the areas of assurance and auditing, advisory, taxation, financial services, and other allied areas. Through this partnership, both organizations will extend support to Indian businesses looking to setup in Qatar and explore the available opportunities through joint roundtables, networking events, and other exchange programs. Chief Executive Officer of QFC Yousuf Mohamed Al Jaida said: "The signing of the agreement with one of India’s most respected institutions marks yet another important step in our efforts to strengthen human capital and promote entrepreneurship in Qatar. Through this partnership, both QFC and ICAI will work toward enabling entrepreneurs, investors, and innovators from India to use our platform and set up their ventures in Qatar to become part of Qatar’s robust market. Supported by Qatar’s dynamic business ecosystem and our strategic location, this agreement will further enhance the state of Qatar’s financial services sectors in years to come." President of ICAI CA Nihar N. Jambusaria said: "This is a stride forward to work closely with each other drawing synergies from the professional expertise available at either end especially in areas of auditing, assurance, financial services, taxation, and alike. Signing of this MoU between ICAI and QFC has opened many windows of opportunities for Indian Chartered Accountants and would in turn be an impetus for the growth of economies at both the ends." He also mentioned that ICAI Doha Chapter, the oldest Chapter established in 1981, is instrumental in finalizing the MoU and is registered under QFC. He further added that the Chapter is affiliated with the Indian Business & Professional Council under the aegis of the Indian Embassy in Qatar. For his part, HE Ambassador of India to the State of Qatar Dr. Deepak Mittal, said: "India and Qatar share cordial relations and the important contribution that the Indian community is making in Qatar has strengthened the deep-rooted friendship of the two countries. It is a very welcome step that the two organizations have come together for the benefit of the accountancy fraternity at either end." He also ensured his full support and cooperation in various endeavors of ICAI in Qatar. Through this partnership, QFC and ICAI will work together to nurture and develop local Qatari professionals, entrepreneurs, and students via specialized trainings; explore the possibilities of study exchange programs for QFC and ICAI employees; collaborate on opportunities that may arise in the fields of corporate governance, technical research and advice, quality assurance, forensic accounting, and Islamic Finance; and share information concerning the accounting profession in India, Qatar and internationally. (QNA)