About

Headed by former Shell in-house lawyer Nasser Al-Taweel (one of the first Qatari nationals to be admitted to the Senior Courts of England and Wales), the Qatar Financial Centre Authority’s (QFCA) legal team has developed a reputation for innovation within the company, having driven efforts in this area for some time. Al-Taweel explains that the team implemented ‘a new technology solution which automates the creation and generation of the QFCA’s commercial contracts, which has resulted in significantly increased efficiencies and cost savings for the QFCA through quicker, more streamlined procurement processes and the use of standardized documentation’.

The team has also been active in solidifying both internal and external compliance practices, with Al-Taweel explaining that ‘in relation to internal compliance, QFCA’s legal has led the drafting and implementation of new policies and procedures in areas such as anti-money laundering, anti-bribery and corruption, whistleblowing, intellectual property, confidentiality and ethics as well as a new code of conduct for QFCA staff’. This project, which ‘forms a key part of QFCA legal’s agenda for 2018’, has been complemented by the team’s work on a range of external strategic advisory mandates for the Qatari Government, including with the Ministry of Economy and Commerce in relation to a compliance-related strategic project.

As well as Al-Taweel, a number of highly experienced individuals within the team have distinguished themselves for their support of its objectives. General Counsel Ishaq Burney ‘proactively identified the need and subsequently led the QFCA’s ISDA netting recognition project that saw the recognition of the QFC as an ISDA recognised netting jurisdiction’, in a move that ‘enhanced the QFC’s appeal to both local financial services firms and parties wishing to contract with counterparties in the State of Qatar’. In a similarly impressive individual performance, Legal Director Roscoe Banks took the lead role in the automation of QFCA’s contracting process and also led negotiations ‘on contracts relating to the QFCA’s imminent relocation to the new multi-billion dollar Msheireb Downtown Doha development’. Lauren Djedid, Senior Legal Counsel has led both the internal compliance projects and a key external compliance initiative which will see all QFC’s Rules and Regulations aligned with the recommendations of the Financial Action Task Force, and directives of the National Anti-Money Laundering and Terrorism Financing Committee. Paving the way to stronger relationships between the QFCA and its key government stakeholders, Moza Al-Naemi, Senior Legal Counsel is seconded to the Office of the Minister of Finance and has undertaken numerous advisory mandates with other authorities and Ministries within the State. Moza plays a leading role in drafting the new QFC Law. Michael Dalby, the Legal Manager at the QFCA’s Legal team has been instrumental in developing new products including investment clubs and foundations amongst others. Currently, the team is working on initiatives relating to emerging and anticipated trends. ‘At the moment’, Al-Taweel explains, ‘we are exploring the development of other key strategic initiatives’.