CTRL 6.2.3 Which firms must have individual to exercise risk management function?

(1) A QFC bank must have an individual who is approved to exercise the risk management function for the firm.
(2) A QFC insurer (other than a QFC captive insurer) must have an individual who is approved to exercise the risk management function for the firm.
Note QFC bank, QFC insurer and QFC captive insurer are defined in the Glossary.
(3) Any other authorised firm must have an individual who is approved to exercise the risk management function for the firm if it is appropriate to do so because of the nature, scale and complexity of the firm’s business.
(4) The individual who is approved to exercise the risk management function for the following firms must be ordinarily resident in Qatar:
(a) a QFC bank;
(b) a QFC insurer (other than a QFC captive insurer) that is incorporated under the Companies Regulations.

 

Derived from QFCRA RM/2020-4 (as from 1st July 2021)