ICAI Signs Memorandum of Understanding with Qatar Financial Center for Exporting Accounting Services to Qatar and Exploring Professional and Business Opportunities for Chartered Accountants
The Institute of Chartered Accountants of India (ICAI) has signed a Memorandum of Understanding with the Qatar Financial Center (QFC), Qatar for the export of accounting services to Qatar and the exploration of professional and business opportunities for ICAI members through collaborative initiatives.
The MoU was signed by CA Nihar N Jambusaria, President of ICAI and Mr. Yousuf Mohamed Al-Jaida, Director General of 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 audit, consulting , taxation, financial services and other related fields. Through this partnership, the two organizations will support Indian companies wishing to settle in Qatar and explore the opportunities available through joint roundtables, networking events and other exchange programs.
CA Nihar N Jambusaria, President of ICAI said: “It is a step forward to work closely together by drawing synergies from the professional expertise available at each end, especially in the areas of audit, insurance, financial services, taxation, etc. Signature of this MoU between ICAI and QFC opened many windows of opportunity for Indian Chartered Accountants in this part of the world and would, in turn, be a boost for the growth of both economies ends.” He also mentioned that the Doha Chapter of ICAI, the oldest chapter created 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 and Professional Council under the auspices of the Indian Embassy in Qatar.
Mr. Yousuf Mohamed Al-Jaida, Managing Director of QFC, said: “The signing of the agreement with one of the largest accounting bodies in the world marks another important step in our efforts to strengthen human capital and promote entrepreneurship in Qatar. Through this partnership, QFC and ICAI will strive to enable Indian entrepreneurs, investors and innovators to use our platform and establish their businesses in Qatar to be part of the robust Qatar market. Supported by Qatar’s vibrant business ecosystem and our strategic location, this agreement will further improve the state of Qatar’s financial services sectors in the years to come.
The event was also honored by Dr. Deepak Mittal, His Excellency the Ambassador of India to the State of Qatar as Guest of Honor. In his speech, he mentioned that “India and Qatar share cordial relations and the important contribution that the Indian community brings to 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 accounting fraternity at each end. He also assured his full support and cooperation in various ICAI companies in Qatar.
Through this partnership, QFC and ICAI will work together to nurture and develop local Qatari professionals, entrepreneurs and students through specialized training; explore the possibilities of study exchange programs for QFC and ICAI employees; collaborate on opportunities that may arise in the areas of corporate governance, research and technical advice, quality assurance, forensic accounting and Islamic finance; and share information regarding the accounting profession in India, Qatar and internationally.
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