QFC and Labuan IBFC host masterclass to explore business opportunities and enhance collaboration
The event is one of the initiatives from the ongoing partnership established by the two entities through a memorandum of understanding (MoU) signed in 2023.
Held in Doha, the masterclass brought together key stakeholders from QFC entities, Islamic financial institutions, and other financial service providers, along with law firms, regulators, enterprises within the oil and gas fields and Qatari family businesses.
It highlighted Labuan’s leasing and family office offerings from a Shariah perspective and family office solutions offered by QFC, in line with Qatar’s positioning as a regional hub for wealth management.
The event saw the joint publication by Labuan IBFC and QFC, which underscores the pivotal roles they play in Islamic finance, their mutual collaboration to promote the Shariah-compliant financing, and their shared commitment to drive the industry’s growth beyond their borders.
“This co-operation demonstrates a shared vision to facilitate cross-border business opportunities and promote Islamic finance solutions across sectors and beyond our jurisdictions. By bringing together industry experts and stakeholders, we aim to explore new avenues for growth and deliver value to our respective stakeholders,” said QFC Authority chief executive officer Yousuf Mohamed al-Jaida.
Mohd Nuli, executive chairman and chief executive officer of Labuan IBFC Inc, said the joint publication marks a milestone in the collaboration journey between Labuan IBFC and QFC.
“Both these endeavours are definite steps in ensuring both Labuan IBFC and QFC are active participants in the push for the digitalisation and globalisation of Islamic finance,” he said.
The existing partnership between QFC and Labuan IBFC is centred on boosting their economic and financial sector ties through joint projects, marketing both financial centres and promoting innovation in the financial industry.
