Case Study
QFCRA Upgrades Prudential Filings Using IRIS iFILE
QFCRA Upgrades Prudential Filings Using IRIS iFILE The Qatar Financial Centre Regulatory Authority (QFCRA), an independent regulator of the Qatar Financial Centre (QFC), upgrades prudential filings to more accurate and automated submissions using IRIS iFILE, an XBRL based regulatory filing platform. Background The Qatar Financial Centre Regulatory Authority (QFCRA) was established to authorize and regulate firms and individuals conducting financial services in and from the Qatar Financial Centre (QFC). Approximately 38 banks and 25 insurance firms report their monthly, quarterly, semi-annual and annual filings to QFCRA. Challenges with the old filing process: Prior to implementing an XBRL platform such as IRIS iFILE, firms used to prepare their reports in MS Excel and submit t