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10-08-22
QFC, AIFC ink MoU to improve, reinforce legal service between both entities
(MENAFN) Qatar Financial Centre (QFC), a chief domestic economic and business hub in the area, as well as Astana International Finance Centre (AIFC) inked a Memorandum of Understanding (MoU) to form collaboration in additional evolving legal facilities among the two entities.
Via this MoU, the two sides are going to ease the trade of data on professional ethics and training, foster a close tie plus establishing openings for professional collaboration between their respective authorized communities.
Inked by Nasser Al Taweel, Deputy head Executive Officer & Chief Legal Officer, QFC, in addition to Nurzhan Kosbayev, Deputy Chairman of the Management Board, AIFC Authority, the agreement is going to motivate continuing and impactful dialogue on the regulation of foreign lawyers in their respective jurisdictions as well as encourage exchange of best practices, classifying obstacles, and improving mutual understanding.
“We are delighted to partner with AIFC and embark on this journey that will allow both financial centres to strengthen legal services in their respective capacities. We believe this opportunity presents a rich knowledge sharing platform to nurture and cultivate young talent within the legal community. This collaboration reinstates the QFC as a significant contributor to Qatar’s socioeconomic growth by supporting the development of local talent in the region,” according to Nasser Al Taweel, Deputy head Executive Officer & Chief Legal Officer, QFC.
Nurzhan Kosbayev, Deputy Chairman of the Management Board, AIFC, stated that “We are very pleased to know more about the QFC experience on regulating legal services market, since recently, in May 2022, we have introduced the regime for regulation of the legal profession in the AIFC. We are keen to give opportunity to law firms from Qatar and Kazakhstan to work closely and exchange the experience in financial centers.”
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