MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Gulf Cooperation Council Region
Focus: An overview of the asset management industry
in Qatar
Yousuf Al Jaida - Director of Strategic Development -
Asset Management QFCA
Although it is still at a relatively early stage in its
development, the asset management industry in the GCC is
evolving increasingly rapidly.This is particularly so in Qatar
where there is significant growth potential for the industry
and where a key focus of the QFC Authority is to
increase assets under management in the country.
It is important to understand the background to this strategic initiative. The Qatar
Financial Centre (“QFC”) was established by the Government of Qatar in 2005. The QFC
is an integral part of the country’s financial sector with a mandate from the government to
consolidate and promote it by introducing world-class financial services.
The contribution of the financial services industry is an important component of the Qatar
National Vision 2030. The National Vision 2030 is an economic, social and cultural
blueprint for the sustainable development of a knowledge-based economy. Financial
services help the diversification away from an excessive dependence on hydrocarbons
which the National Vision 2030 maps out. Good progress has already been made
towards realizing the diversification goals of the National Vision; the Finance, Insurance,
Real Estate and Business Services sector now contributes about 10% of Qatar’s GDP,
making it one of the biggest sectors after hydrocarbons.
Geographically, Qatar benefits from its location between the mature markets of the west,
the emerging markets of the east and the increasing trade and capital flows between
SAAAME (South America, Africa, Asia, Middle East) markets. Qatar is also well
positioned for firms looking to tap into the wider GCC region, which has a combined GDP
of about US$1.4 trillion.
Against this back-drop, there are considerable opportunities for asset managers in
Qatar. The country has one of the highest per capita incomes in the world, one of the
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