UBS AG, a Switzerland-headquartered financial institution, plans to enter the Qatari financial market and spread out its operations in the Middle East reports said.

The Qatar Financial Centre Regulatory Authority (QFCRA) has granted authorisation to UBS to conduct regulated activities in the QFC, a Gulf Times report said.

“We are sure that UBS’s wide experience and strong credentials will bring value to the Qatari marketplace,” said  Phillip Thorpe, QFCRA chairman.