Mauritius and Qatar sign MoU for financial sector collaboration and development
The Economic Development Board (EDB) of Mauritius signed a Memorandum of Understanding (MoU) on 12 May with the Qatar Financial Centre Authority (QFCA) aimed at promoting collaboration in areas of mutual interest including financial sector cooperation and skills enhancement.
The MoU marks a significant step towards fostering closer ties between Mauritius and Qatar in the financial services sector. Under the MoU, the QFCA and EDB Mauritius will foster the creation of a community between the fintech ecosystems of Qatar and Mauritius, which will support fintech initiatives in banks and other regulated financial institutions in both countries.
They will further assist each other in fast-tracking fintech development by providing institutional support for entities setting up in each other’s jurisdictions, sharing best practices to advance Islamic finance and joint promotion through round table events, conferences, seminars and other activities.
Finally, the two parties will cooperate on facilitating skills and capacity-building initiatives, involving technical assistance, knowledge transfer and policy development. They will share best practice between QFC and Mauritius institutions, implement staff secondment programmes to exchange expertise, develop training programmes for financial institutions and exchange information on investment and trade policies.
“Through this collaboration, we aim to capitalise on our respective strengths and expertise to drive innovation, promote sustainable development, and create new avenues for economic growth,” said QFC chief executive officer Yousuf Mohamed Al-Jaida. “By working together, we can enhance the competitiveness of both our jurisdictions and create a conducive environment for businesses and investors in Qatar and Mauritius.”
“The signing of this MoU signifies not just the formalisation of a partnership but the beginning of a journey towards deeper collaboration and synergy between our two organisations,” said EDB Mauritius chairman Hemraj Ramnial. “It represents a commitment to leveraging our respective strengths and resources to foster economic growth, innovation and prosperity for both our nations and beyond.”
This Memorandum of Understanding underscores the QFC’s steadfast commitment to driving economic progress and diversification and its vision to transform Doha into a leading global financial and commercial capital while cultivating stronger ties between Qatar and Mauritius.
