ICAI-QFC MoU paves way for export of accounting services to Qatar

The Institute of Chartered Accountants of India (ICAI) has signed a pact with the Qatar Financial Center (QFC), paving the way for the export of accounting services in Qatar and exploring professional and business opportunities for members of the ‘ICAI.
The signing of a Memorandum of Understanding (MoU) would give further impetus to the prospects of ICAI members across the Middle East region to have better recognition, as well as working to support Indian companies willing to do business in Qatar and thus support growth. economies of Qatar and India.
The signing of the agreement comes after India’s Cabinet approved it in May this year. The ICAI, a statutory body created by an Act of the Parliament of India, has an active Doha chapter, which was established in 1981 and the oldest of 36 overseas chapters.
The MoU will seek to increase opportunities for ICAI members to provide professional services by establishing a practice to provide professional services in Qatar in the areas of assurance and audit , consulting, tax, financial services and related fields.
ICAI will encourage and develop local professionals, entrepreneurs and students through a specialized training program, in collaboration with QFCA.
ICAI and QFCA would work together to explore opportunities for Indian businesses in Qatar by organizing roundtables, networks and other events.
ICAI and QFCA will collaborate on opportunities that may arise in the areas of corporate governance, research and technical advice, quality assurance, forensic accounting, small and medium enterprise issues , Islamic finance, continuing professional development and other topics of mutual interest.
ICAI has a strong membership base of over 6,000 members in the Middle East and the Qatar (Doha) Chapter is one of ICAI’s fastest growing chapters.
ICAI members hold key positions in various private and public companies and are actively involved in supporting and developing the accountancy profession in Qatar.

Kristan F. Talley