IFA firm International Financial Services has opened a Qatar office, its first outside the Far East.
The company, which has operations in Singapore and Hong Kong providing advice to expats and locals, becomes only the second licensed financial advisory business in Qatar.
It was licensed by the Qatar Financial Centre Authority (QFCA) and authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) to provide investment advice on insurance contracts.
Expat focus
Mark Recardo, chief executive of IFS Qatar, said the company will be targeting the expat community, which he noted has mainly been served by unregulated advisers until now.
“Having reviewed various Middle Eastern jurisdictions IFS, identified Qatar as its location and the Qatar Financial Centre its regulator of choice for expansion.
“The main underlying reasons included the limited number of local providers of financial product solutions in Qatar and the current, and forecast, growth of the expatriate community.
“By licensing and regulating IFS and companies like it, the QFCA and QFCRA, respectively, are providing a credible alternative for Qatari expatriates who will no longer need to rely on the services of unregulated financial advisers."
Among the areas in which IFS said it could provide advice are general financial planning and wealth management, retirement, school fees, tax and estate issues, succession planning, short term Investments and health and life insurance.
