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Fifth Session / In times of financial crisis: the Regulatory Law and the Credit Crisis"

- Qatar Law Forum held today its fifth session at the Ritz Carlton Hotel. H.E. the Minister of Economy and Finance Youssuf Hussein Kamal chaired the session held under the slogan " In times of financial crisis: the Regulatory Law and the Credit Crisis". The session debated the nature and effectiveness of regulations in addressing the financial crisis, attempted as well to learn lessons from the crisis and to explore the future challenges and the feasibility of using regulations on the local and international levels. The Minister said that the organization of the forum coincided with H.H. the Emir Sheikh Hamad bin Khalifa Al- Thani''s endorsement of the law establishing the QFC Regulatory Tribunal and its Regulatory Authority. Since the US and European laws have not taken into account the occurrence of such an acute financial crisis, officials in charge of the crisis'' management had faced legal restrictions which have slowed down their action and delayed their procedures aimed to alleviate its impact, the Minister said . Compared to the security regulations, which are more flexible, the economic rules do not give the same margin of freedom and flexibility, the Minister said explaining that officials in charge of security crises management have a wide margin of freedom and flexibility to maintain the public interests and address the security crisis. During the crisis none has paid attention to the defects which affected the economic indexes referring in this respect to the example of Iceland which economy collapsed due to the international crisis. The Minster stressed that the governance concept should be applied as well on the media, cautioning that the media amplification was part of the financial crisis. (QNA

under the patronage of H.H. the Emir Sheikh Hamad bin Khalifa al Thani , H.E. Hamad Bin Jassem Bin Jabor Al-Thani inaugurated the Forum works

PM to open Qatar Law Forum today 30- 5-2009


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