Doha: Chief Executive Officer of Qatar Financial Centre (QFC), Yousuf Mohamed Al Jaida, expressed QFC's dedication to staying abreast of the latest advancements in business registries, regulations, legislation, and operations. Speaking at the 20th Corporate Registers Forum (CRF) Annual Conference 2024, Al Jaida emphasized the importance of fostering the free exchange of information and expertise to enhance industry development through best practices. According to Qatar News Agency, the CRF 2024 conference, themed "Innovative Registries Business Enablers of the Future," spans four days and addresses vital topics in business registries. These include Corporate Re-domiciliation, Monitoring and Enforcement, Effective Penalty Regimes, and Tokenization of Shares. The event also features regional sessions for Europe, Asia, and the Middle East and Africa, alongside updates from partner organizations and presentations on business registry insights. A focal point of the conference is the introduction of 'Beneficial O wnership' discussions, marking its debut at a CRF event. A full day on Wednesday is dedicated to exploring topics such as 'Empowering Beneficial Ownership Globally,' 'AML Legal Frameworks Worldwide,' 'Global Beneficial Ownership Insights,' and 'FATF Recommendations.' The conference will conclude with the members-only CRF Annual General Meeting 2024 on Thursday. Al Jaida highlighted the success of the conference's first day, stating that hosting the event in Qatar underscores their collaborative spirit and shared vision for promoting business excellence. He acknowledged the significant contributions of QFC's partners in bringing the event to fruition. Al Jaida also noted Qatar's substantial investments in digitizing business registry services, which have reduced administrative burdens and increased transparency. The digital services portal enables companies to manage licenses, records, and files electronically, aligning with Qatar's national goal of streamlining business procedures. He emphasized QFC and the Ministry of Commerce and Industry's commitment to international standards for beneficial ownership and anti-money laundering regulations, adhering to FATF recommendations. Business registration authorities face growing demands for transparency and the effective combat of financial crimes while ensuring compliance with advanced regulatory standards. Al Jaida underscored that effective beneficial ownership frameworks help mitigate financial risks and bolster investor confidence. CRF President Louise Smyth remarked on the global corporate registry community's convergence in Doha for the annual conference, celebrating it as a historic event. CRF General Secretary Martin Fidler Jones lauded the QFC team for their exceptional preparation, ensuring an unforgettable gathering featuring over 40 international experts and 18 sessions on key corporate registry topics. QFC Deputy CEO and Chief Legal Officer, Nasser Al Taweel, expressed pride in hosting the event, highlighting its significance in supporting QFC's object ives of fostering a dynamic and transparent business environment, essential for economic development and diversification. The first day of the conference delved into distribution ledger technology, leveraging registry data, the role of legal entity identifiers, the future of registries, and the regulation of company service providers.
Tuesday, November 05, 2024