(MENAFN- The Peninsula) The latest Global Financial Centres Index, GFCI 17, covering 82 financial centres from around the world, has ranked Qatar in the top 20 leading financial centres from across the globe.
The GFCI 17, sponsored by Qatar Financial Centre, was released yesterday by the London-based Z/Yen Group. Z/Yen is the City of London's leading commercial think-tank.
Qatar's rating rose by 7 points, mainly driven by its increasing competitiveness, international relations and perceived significance as a leading financial centre not only within the GCC but on a global level. The index saw the ratings of Doha, Riyadh and Casablanca reflect the biggest gains in this competitive region, while Dubai and Abu Dhabi saw modest declines.
Yousuf Al Jaidah, Deputy CEO of the QFC Authority, said: "The QFC is delighted that Qatar has again been recognised as a leading financial centre in the GCC, ranked within the top 20 financial centres from around the world. The GFC Index is a renowned and highly relevant and respected report of the leading financial centres globally, which reflect the views and opinions of executives from all over the financial community."
"Qatar's ranking and rise in ratings reflects how well the economy is performing in an unstable global economy. The QFC's competitive business environment and its world class legal, regulatory and tax platform provides all firms with the resources they require to grow their businesses in Qatar and the broader GCC region," he said.
Mark Yeandle, the author of the GFCI, said: "Doha continues to make strong progress in attracting the attention of the international financial and business services community. Qatar's regulatory and economic stability in the face of continued energy market uncertainty is testament to Doha's strength as a globally influential financial centre."
GFCI 17 uses 28,494 financial centre assessments completed by 3,527 financial services professionals. Since 2007, well over 120,000 assessments from over 9,500 respondents have built the index. The GFCI is updated regularly and ratings change as assessments and instrumental factors change.
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