Japanese investment major announces Qatar move

QATAR MOVE: Japanese investment bank Nomura is planning to open an office in Qatar. (Getty Images)

Japanese global investment bank Nomura announced on Sunday it will open an office in the Qatar Financial Centre (QFC) to provide investment banking and capital market services.

The bank, which has existing regional offices in Dubai and Bahrain, will offer corporate finance and capital markets advisory and arranging services to institutional clients from its business in Doha, it said in a statement.

Nomura’s move means three out of the past six firms licensed to operate in the QFC are headquartered in Asia.

The bank could play a meaningful role in strengthening the links between Qatar and global capital markets, said Philip Lynch, chief executive office, Middle East and Africa, Nomura.

“Qatar is among the fastest growing economies in the world, with attractive long-term fundamentals, vast hydrocarbon reserves and major government initiatives to modernise, liberalise, diversify and regulate the economy,” he said.

QFC is a financial and business centre set-up by the government of Qatar four years ago to develop the market for financial services in the country by attracting financial services companies.

Nomura is expected to to open for business in Saudi Arabia shortly, after last year being awarded a licence to operate by the Capital Market Authority (CMA).

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READERS' COMMENTS

competition
Posted by Geriant, Dubai, UAE on Sunday 7 June 2009 at 11:33 UAE time

Looks like the property merchants at the DIFC have finally got some competition in the shape of QFC, which offers better terms, more transparency and ample parking. Go figure.

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