(MENAFN – The Peninsula) The Peninsula
As part of its ongoing commitment to supporting international best practices in legal matters, the Qatar Financial Centre (QFC), one of the world’s leading and fastest growing financial centres, hosted a roundtable discussion with local and international law firms to discuss the proposed introduction of the new QFC Legal Services Code of Conduct.
The QFC Legal Services Code of Conduct focuses on ensuring that QFC licensed law firms and the lawyers they employ operate in accordance with a common set of standards and principles that seek to maintain the highest standards of excellence in legal practice.
Nasser Al Taweel, Chief Legal Officer at the QFC Authority commented on the QFC’s Legal Services Code of Conduct stating: ‘At the QFC, we take pride in ensuring that we implement and maintain a level of consistency in the competence and conduct of QFC law firms and lawyers. We are happy to say we received feedback from a wide variety of stakeholders that was very positive. The final version of the Code will be implemented soon and we are confident it will help provide a world-class legal regime in Qatar.
The QFC’s international award winning Legal department provides a comprehensive set of in-house legal services and is at the centre of the strategic development, enhancement and advocacy of the QFC’s legal environment. The QFC’s legal environment provides an internationally recognised platform for leading Qatari and international companies to expand in Qatar or overseas from the QFC. This in turn supports Qatar’s economic development and diversification efforts and contributes to knowledge and expertise sharing in Qatar and beyond.
QFC is an onshore business and financial centre, providing an excellent platform for firms to do business in Qatar and the region.
The QFC offers its own legal, regulatory, tax and business environment, which allows 100 percent foreign ownership, 100 percent repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits.