JANUARY 12, 2011, 8:25 A.M. ET
J.P. Morgan to Open Qatari Branch
By ALEX DELMAR-MORGAN
DOHA, Qatar—Qatar's financial regulator has authorized J.P. Morgan Chase, the U.S. investment bank, to start operations in the Gulf Arab state, it said Wednesday, as the country looks to attract top financial firms to grow its emerging business hub.
The Qatar Financial Centre Regulatory Authority, or QFCRA, said in an emailed statement that J.P. Morgan's branch in the Qatar Financial Centre is licensed "to arrange credit facilities, deals in investments", and provide "custody services", as well as advise on investments. It was authorized on Jan. 5, the QFCRA added.
"We are pleased that J.P.Morgan is bringing its significant market and product expertise to the Qatar market and we are confident that it will play a significant role in this important market and the region," QFCRA deputy Chief Executive Officer Michael Ryan said in the statement.
In all, 128 firms are registered at the QFC, which was set up in 2005 and allows 100% ownership by foreign companies. Other investment banks with offices in......Read more
