Thursday, 15 Apr 2021 05:51 PM MYT
KUALA LUMPUR, April 15 The Qatar Financial Centre Authority (QFC Authority) today signed a Memorandum of Understanding (MoU) with Labuan IBFC Incorporated to develop a long-term cooperation and boost the economic and financial sector ties between the two financial centres.
The MoU entails a commitment to collaborate on certain objectives including, but not limited to, marketing, awareness activities and identification of mutually beneficial initiatives.
Under the agreement’s structure, QFC and Labuan IBFC will commit to exploring a mutually beneficial framework to allow relevant financial institutions in the State of Qatar to operate in Labuan IBFC and allow relevant financial institutions in Labuan IBFC to operate in the QFC, subject to the approval of all competent authorities.