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DOHA, QatarNew York-based Marsh Inc., part of Marsh and McLennan Companies, is to apply for a license from the Qatar Financial Centre Regulatory Authority.
Marsh already operates in the United Arab Emirates, Bahrain, Saudi Arabia, Oman and Egypt. Robert Makhoul, head of Marsh's Middle East operations, told Business Insurance Europe, that getting a license to transact business in the Qatar market as a broker and risk advisor was the "logical extension of Marsh's Middle Eastern plans."
"Qatar is seeing a massive economic boom at the moment... there are significant projects coming up over the next five years worth $130 billion, which will offer business opportunities," said Mr. Makhoul.
Mr. Makhoul expects the process of applying for a license to take between 45 and 60 days.