The Institute of Chartered Accountants of India (ICAI) has signed a Memorandum of Understanding (MoU) with Qatar Financial Centre (QFC), Qatar for the export of accounting services to Qatar and & exploring professional and business opportunities for ICAI members through collaborative initiatives.
The MoU was signed by CA Nihar N Jambusaria, President, ICAI and Mr Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC. The agreement will pave the way for closer collaboration between QFC and ICAI on mutually beneficial initiatives, including increasing opportunities for ICAI members in the areas of assurance and auditing, advisory, taxation, financial services, and other allied areas. Through this partnership, both organisations will extend support to Indian businesses looking to set up in Qatar and explore the available opportunities through joint roundtables, networking events, and other exchange programmes.
CA Nihar N Jambusaria, President, ICAI said: “This is a stride forward to work closely with each other drawing synergies from the professional expertise available at either end especially in areas of auditing, assurance, financial services, taxation, and alike. The signing of this MoU between ICAI and QFC has opened many windows of opportunities for Indian Chartered Accountants in that part of the world and would, in turn, be an impetus for the growth of economies at both ends.” He also mentioned that ICAI Doha Chapter, the oldest Chapter established in 1981, is instrumental in finalizing the MoU and is registered under QFC. He further added that the Chapter is affiliated with the Indian Business & Professional Council under the aegis of the Indian Embassy in Qatar.
Mr Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: “The signing of the agreement with one of the largest accountancy bodies of the World marks yet another important step in our efforts to strengthen human capital and promote entrepreneurship in Qatar. Through this partnership, both QFC and ICAI will work toward enabling entrepreneurs, investors, and innovators from India to use our platform and set up their ventures in Qatar to become part of Qatar’s robust market. Supported by Qatar’s dynamic business ecosystem and our strategic location, this agreement will further enhance the state of Qatar’s financial services sectors in years to come.”
The event was also graced by Dr Deepak Mittal, His Excellency Ambassador of India to the State of Qatar as Guest of Honour. In his address, he mentioned that “India and Qatar share cordial relations and the important contribution that the Indian community is making in Qatar has strengthened the deep-rooted friendship of the two countries. It is a very welcome step that the two Institutes have come together for the benefit of the accountancy fraternity at either end.” He also ensured his full support and cooperation in various endeavours of ICAI in Qatar.
Through this partnership, QFC and ICAI will work together to nurture and develop local Qatari professionals, entrepreneurs and students through specialised training; explore the possibilities of study exchange programmes for QFC and ICAI employees; collaborate on opportunities that may arise in the fields of corporate governance, technical research and advice, quality assurance, forensic accounting, and Islamic Finance; and share information concerning the accounting profession in India, Qatar and internationally.