DOHA: Qatar has been ranked as a tip financial centre in a GCC. The Global Financial Centres Index (GFCI 15) covering 83 financial centres yesterday showed Qatar’s rating rose by 15 points.
The Index, published by a London-based Z/Yen Group, indicates that Qatar’s tip rating was especially driven by a augmenting competitiveness and viewed stress as a financial centre. The index saw a ratings of Bahrain, Riyadh and Abu Dhabi in a segment also increase. However, Qatar confirmed a heading position.
Qatar’s normal tellurian comment is 694 and a ex-regional normal is 690, somewhat adult from 690 and 683 respectively in GFCI 14. All regions solely Europe and a Offshore centres have given enlightened assessments to Qatar with a Americas being significantly some-more enlightened than a Middle East/Africa and Asia/Pacific respondents.
Dubai’s altogether normal comment is 710 and it ex-regional normal is 704, an boost in their particular values from 697 and 690 in GFCI 14. It perceived enlightened assessments from a home region, Asia/Pacific and North America. Europe, a largest respondent organisation is somewhat reduction enlightened than a mean.
“I have changed to Doha recently and rarely suggest it as a place to do business in a Middle East”, a news quoted a Doha-based investment landowner as saying.
Professor Michael Mainelli, Executive Chairman of a Z/Yen Group, said: “The evident story of GFCI 15 is that New York City overtakes London. But that misses a bigger design as Hong Kong and Singapore continue to benefit opposite both normal leaders. In a GCC, Qatar, Bahrain, Riyadh and Abu Dhabi all boost their ratings. Yet in Europe, 23 of 27 European centres decline. Financial centre care is increasingly capricious in a universe of handicapped financial systems.”
Shashank Srivastava, CEO and Board Member of a QFC Authority, added: “I am gay that Qatar has again been recognized as a heading financial centre in a GCC. The GFC Index, that is published twice a year, is a rarely applicable and recognized indicator reflecting a views and opinions of executives from all over a world. Qatar’s position and arise in a ratings reflects how good a economy is performing, a rival business sourroundings and a universe category legal, regulatory and taxation height a Qatar Financial Centre offers all firms to grow their businesses in Qatar and a broader GCC region.
The biggest gains in a rival GCC segment were seen in Riyadh, that gained 55 points and rose 16 places to 31st. Bahrain, gained 50 points and rose 12 places to 40th. Tel Aviv gained 39 points and rose 11 places to 21st, and Johannesburg, gained 55 points and rose 11 places to 50th. Abu Dhabi also done an considerable benefit of 41 points and 10 places to 32nd. Although it gained 18 points, Istanbul declined 3 places to 47th.