From left: Datuk Jamaludin Nasir, Group Chief Executive Officer of MARC, Yousuf Mohamed Al-Jaida, CEO of Qatar Financial Centre, and Hussain Mohammed Al Abdullah, Marketing & Communication Director of Qatar Stock Exchange, at the Memorandum of Collaboration Signing Ceremony in Doha, Qatar.

Malaysian Rating Corporation Berhad (MARC) has officially entered into a Memorandum of Collaboration (MoC) with both the Qatar Financial Centre Authority (QFCA), representing the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business hub in the Middle East, and the Qatar Stock Exchange (QSE). The signing of the MoC was held recently on 6 September 2023 in Doha, Qatar.

This MoC outlines a comprehensive framework for cooperation, targeting various strategic initiatives aimed at elevating the financial landscape both locally and regionally, with a focus on bonds and sukuk and its ancillaries. The scope of this partnership encompasses activities such as jointly organising knowledge-sharing events, developing essential market infrastructure, and enhancing the necessary capabilities to empower the business and financial community in Qatar.

Additionally, in the pursuit of excellence, the partnership will explore opportunities to establish best practices in sustainability and the debt capital market. As responsible stewards of the financial industry, the trio recognises the significance of integrating sustainability into the practices. This will not only benefit the business and financial community but also contribute to the broader global effort towards a sustainable future.

Datuk Jamaludin Nasir, Group Chief Executive Officer of MARC, expressed his optimism about this significant agreement, stating, "This strategic collaboration with the QFCA and QSE marks another milestone for MARC’s exciting transformational and growth journey. Together with the QFCA and QSE, we look forward to driving excellence in the bond and sukuk markets, promoting sustainability, and advancing the financial ecosystem in Qatar and beyond. This collaboration reflects our dedication to utilising MARC's capability and experience in contributing to the growth and development of the financial markets in Qatar and the region."

Commenting on the MoC, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said, "This partnership underscores our shared mission with the QFC and MARC to strengthen financial infrastructures, stimulate market growth, and explore new avenues for mutual development. It also demonstrates the QFC's unwavering commitment to bolstering Qatar's financial ecosystem. Through this collaboration, we are poised to amplify our impact on setting high standards and catalysing growth in the financial market."

Abdulaziz Nasser Al-Emadi, Acting CEO of QSE, welcomed the signing of the MoC with MARC and the QFC and described it as a significant step towards exploring the best ways for close cooperation among the three parties to develop the fundamental structure of Qatar's financial market, adopting best practices related to corporate performance, as well as strengthening public debt markets at the local and international levels.

“The signing of this tripartite MoC will strengthen the existing excellent relationships between the QSE and other Qatari financial institutions with MARC and other financial institutions in Malaysia's financial markets. These relationships are anticipated to serve shared interests and facilitate collaboration between the two parties,” Al-Emadi stated.

This collaboration between MARC, the QFCA, and QSE represents an exciting step forward in the evolution of regional financial markets and underscores the commitment of all parties involved to innovation, sustainability, and growth.