Page 7 - Annual Report 2024 EN

/ 7
CEO’s Statement
2024 was a year of transformation, resilience, and forward
momentum for the Qatar Financial Centre Regulatory Authority
(QFCRA). As we advanced our strategic objectives under the Third
Financial Sector Strategic Plan (3FSS), our focus remained on
delivering regulatory excellence, fostering innovation, and building
institutional strength across all dimensions of our work.
Our teams have worked diligently to translate policy into practice,
developing supervisory tools, refining operational processes, and
engaging with stakeholders to ensure that our regulatory approach
remains agile and responsive. The successful launch of the QFC
Digital Assets Framework was a landmark achievement, and our
operational readiness to support tokenisation and smart contracts
reflects the depth of our technical and legal preparation.
In parallel, we continued to embed innovation into our supervisory
model. The integration of artificial intelligence and machine learning
into our reporting and oversight functions has enhanced our ability to
identify risks and support firms in meeting their regulatory obligations.
These tools are not just technological upgrades; they represent a
shift in how we think about supervision in a digital age. Throughout
2024, raising consumer awareness about cybersecurity and financial
scams remained a key focus. This included the establishment of
the Financial Scams Framework and the formation of strategic
partnerships with the Qatar Central Bank and relevant ministries
to help protect the public and investors from fraudulent actors.
Our commitment to nationalisation was reflected in the expansion
of the Al Masar programme, which continues to serve as a
cornerstone of our talent strategy. We are proud of the growing
representation of Qatari professionals across our divisions,
and we remain focused on developing future leaders who will
shape the next chapter of financial regulation in Qatar.
T ABLE OF C ONTENT S
Internally, we pursued excellence in governance, risk
management, and organisational development. Our 4-star
rating from the European Foundation for Quality Management
is a testament to the dedication of our staff and the strength
of our internal systems. It affirms our position as a regional
leader in regulatory quality and operational integrity.
As we look to 2025 and beyond, our priorities are clear: to
deepen our regulatory impact, strengthen our partnerships,
and continue building a financial ecosystem that is secure,
inclusive, and future-ready. I extend my sincere thanks
to our Chairman, H.E. Sheikh Bandar bin Mohammed
bin Saoud Al-Thani, and our Board of Directors for their
strategic guidance and steadfast support. I also thank
our colleagues across government and industry for their
collaboration and commitment to shared progress. I would
also like to extend my deepest thanks to the dedicated
staff of the QFCRA, whose professionalism, commitment,
and drive for excellence have been instrumental in
delivering our achievements throughout 2024.
Together, we are shaping a financial future that reflects the
ambition of Qatar’s National Vision 2030, one that is
innovative, resilient , and globally connected.
Michael G. Ryan
Chief Executive Officer