The Financial Stability and Risk Control Committee (FSRCC) was created under Law No. 13 of 2012, Article 116. The committee was formed to enhance co-operation and information exchange among Qatar’s three regulators: the Qatar Central Bank, the Qatar Financial Markets Authority and the QFC Regulatory Authority.
The committee is chaired by His Excellency Sheikh Abdulla Bin Saoud Al-Thani, Governor of the Qatar Central Bank. Its membership includes the Deputy Governor and the Chief Executive Officers of the Qatar Financial Markets Authority and the Regulatory Authority.
The committee’s operational objectives are to provide an early warning system, to identify, monitor and analyse risks and vulnerabilities in the financial system as a whole, to propose possible remedies, and to ensure that these remedies are put into effect and that their impact is satisfactorily assessed.
Aligned with the goals and objectives of the Qatar National Vision 2030 and the Second Strategic Plan for Financial Sector Regulation 2017-2022, the work of the committee focuses on the study of potential risks resulting from services, works, activities and financial markets, and the issuance of relevant solutions and proposals; the coordination between regulatory, supervisory and oversight authorities in the State, with the goal of strengthening the co-operation and the exchange of information among them to result in a homogeneous regulatory and supervisory environment; and the creation of policies relating to organisation, control and supervision, including licensing, and anti-money laundering, and other policies pertaining to services, works, activities and financial markets.