Qatar appoints Lord Woolf as a senior judge for its new financial centre
Lord Woolf has been appointed as the president of Qatar Financial Centre’s (QFC) tribunal. The move comes at a time when Qatar is heavily marketing itself as an important financial centre in the Middle East, in competition with Dubai and Bahrain.
The Qatar government has acknowledged that “in a region not previously renowned for investment transparency…if the Centre is to enjoy the confidence of those who operate in it, the regulator must have the experience, credibility, powers and independence needed to discharge its functions effectively”.
The QFC itself has only been operating since 2005, and has modelled itself on the principles-based approach of the Financial Services Authority (FSA) in the UK and other leading global regulators. To
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