Qatar and Luxembourg forge closer ties through seminar
From Middle East Jan 30 2012 BY: Simon Danaher
, Online News Editor
, International Adviser
The Qatar Financial Centre Authority and Luxembourg for Finance held a joint seminar in Doha yesterday, to explore ways the two countries can work together.
Last year, the two organisations signed a Memorandum of Understanding to promote cooperation between the two countries in financial services. Among the subjects discussed at yesterday’s seminar were financial services opportunities in Qatar and the role of Luxembourg as an international hub for financial services in Europe.
Attendees were welcomed to the event by Abdulrahman Al Shaibi, managing director and board member of the QFCA, and H.E. Luc Frieden, minister of finance, Grand Duchy of Luxembourg, who also gave the keynote address.
Meanwhile, Shashank Srivastava, acting chief executive and chief strategic development officer, Qatar Financial Centre Authority, spoke about the financial services opportunities in Qatar and Fernand Grulms, CEO, Luxembourg for Finance, described how Luxembourg developed into a European financial hub.
Since the MoU was signed last year, there have been a number of deals struck between the two countries including the purchase of Luxembourg-based KBL European Private Bankers by Qatari investment fund, Precision Capital. The fund has also been involved in the purchase of a significant stake in the private banking arm of Dexia Bank.