QATAR - Qatar Rivals Dubai In Financial Services.Phillip Thorpe Thorpe , James Francis Known as "Jim." 1888-1953. American athlete. An outstanding collegiate football player, he later played professional football and baseball. , a regulator fired by Dubai's International Financial Centre (DIFC DIFC Dubai International Financial Centre ) amid a storm of controversy, was on March 1 named chief regulator of Qatar's financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. centre. That was a coup for Doha which, like its neighbours, wanted to become the "Singapore" of the Middle East. A New Zealander who was a senior regulator in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and London, Thorpe was sacked by Dubai's DIFC in August 2004 along with another expatriate Expatriate An employee who is a U.S. citizen living and working in a foreign country. colleague only weeks before the centre issued its first licences. His departure was seen in financial circles as a consequence of his having raised questions about land deals connected to the DIFC and opposing moves which might have undermined independent regulatory oversight. It initially proved a setback for the DIFC as it sought to win international confidence. Qatar, the world's fastest economy, is the third Gulf state with plans to be the leading financial services centre. Doha has emphasised a desire for regulation under the best international practice. The Bahrain Monetary Authority has an established regulatory record and oversees 350 financial institutions. Dubai's more recent ambition as a financial centre is designed to complement its being a regional trade and tourism hub. |
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