Page 17 - Annual Report 2024 EN

/ 17 T ABLE OF C ONTENT S

Third Financial Sector Strategic Plan

and Role of the FSSO (Ro’ya)

The Third Financial Sector Strategic Plan (3FSS) was launched in November 2023 and is structured

around four pillars: Banking, Insurance, Digital Finance Ecosystem and Capital Markets. These pillars
collectively drive the development of financial markets across the sectors, while also enabling the

transition to a digital economy through the creation of a comprehensive digital finance ecosystem.

The QFCRA serves as the host for the Financial Sector Strategy Office (FSSO). The FSSO plays a
crucial role in overseeing and coordinating the implementation of the 3FSS. The FSSO provides

monthly reports to the Joint Committee, which leads the implementation of 3FSS and it is comprised

of senior leaders, including CEO’s of the Qatar Financial Markets Authority (QFMA), QFCRA, Qatar

Stock Exchange (QSE), Edaa (formerly Qatar Central Securities Depositary), Qatar Development
Bank (QDB), Qatar Financial Centre Authority (QFCA), along with Assistant Governors of the QCB

and designated experts. These reports update the status of all projects under the 3FSS and highlight

any material issues arising from their implementation. The FSSO is responsible for preparing

project plans, assisting the Joint Committee with prioritisation, operating the project governance
framework, and organising and running meetings for the Joint Committee, Leadership Team and

Workstreams. It also manages overlaps in stakeholder activities, ensures coordination and direction

of common themes, holds bilateral meetings to resolve confusions and conflicts and provides

technical input and expertise for Lead Owners of projects in scoping and preparing reports.

In 2024, the FSSO was staffed by 10 full-time employees, including three seconded

members, one from each of the QFMA, QSE and QFCA. A key objective of the FSSO is to

foster the exchange of knowledge and expertise regarding the financial regulatory framework
and the broader financial ecosystem. The seven-year strategy necessitates capturing

work and outputs for knowledge transfer and preserving the history of the 3FSS for its

stakeholders. In this connection, the FSSO maintains a document repository of decisions and

knowledge to preserve the institutional memory and human capital related to 3FSS.

The QFCRA is leading on 24 projects under 3FSS in 2024 relating to digital

assets, consumer and investor protection and the legal framework for capital

markets as set forth in the QFCRA policy work programme.