The top financial center in the Middle East is Qatar according to the latest Global Financial Center Index or GFCI 14. The said finding was published by the Z/Yen Group from London. The said index covers 80 financial centers located all over the globe.
According to Z/Yen Group Executive Chairman Michael Mainelli, "In the Middle East, Qatar, Bahrain and Istanbul see significant increases in their ranking whilst other centers fall slightly. Elsewhere, South America now joins Asia chasing London's and New York's supremacy."
QFC Authority Board Member and CEO Shashank Srivastava said, "The GFC Index, which is published twice a year, is a highly relevant and recognized indicator reflecting the views and opinions of executives from all over the world. The latest index demonstrates how Qatar continues to strengthen its standing as a prominent financial center."
He added, "These excellent results, together with recent confirmation of Qatar's global ranking of 13th in the latest World Economic Forum Global Competitiveness Report 2013-14, the highest ranking any state in the GCC, reinforce my belief that the Qatar Financial Center offers financial services firms a uniquely attractive platform from which to grow their business both in Qatar and the broader GCC region."
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