Tribune News network
doha
The Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a prominent onshore financial and business hub in the region, has signed a memorandum of understanding (MoU) with Casablanca Finance City Authority (CFCA), the managing body of Casablanca Finance City (CFC), Africa’s leading business and financial hub.
This strategic partnership establishes a collaborative framework to enhance the roles of QFC and CFC as regional financial centers while promoting economic development and creating business-friendly environments in both Qatar and Morocco. Both entities are members of the World Alliance of International Financial Centres (WAIFC), reflecting their global standing in the financial ecosystem.
The MoU sets out key objectives aimed at fostering growth and innovation in financial technology, private banking, and sports. By focusing on these areas, the partnership aims to drive diversification and attract financial institutions, multinational corporations, and professional services providers to both financial hubs. It also facilitates the exchange of knowledge on innovation trends, financial products and services, and relevant legislative developments in each jurisdiction.
To deepen cross-border collaboration, the MoU outlines plans for regular delegations between the two financial communities. It also emphasizes joint initiatives to enhance financial literacy and professional training programs, aiming to develop a skilled workforce capable of meeting the demands of a rapidly evolving financial sector.
Commenting on the partnership, QFC Chief Executive Officer Yousuf Mohamed Al Jaida said, "This partnership with Casablanca Finance City Authority strengthens our efforts to drive the growth and development of the financial sector while building an interconnected, innovative, and future-ready framework across the region. Joining forces with CFCA enhances our ability to attract global investment and creates opportunities for shared growth and knowledge exchange, fostering a stronger financial landscape in both Qatar and Morocco.”
Echoing the same sentiments CFC Chief Executive Officer Said Ibrahimi said, "This MoU is a milestone for both Casablanca Finance City and Qatar Financial Centre, forging a vital link between Africa and the Middle East. Together, we’re not just collaborating; we’re creating a bridge that empowers businesses and drives transformative growth across our regions.”
This agreement signifies a new chapter in Qatar and Morocco’s collaborative relationship, highlighting their shared vision for strengthening regional cooperation. By leveraging their strategic partnership, QFC and CFC aim to establish a resilient, innovative, and globally competitive financial ecosystem, fostering transformative growth and opening new avenues for economic prosperity.