Yousef Hussain Kamal Al Emadi
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Yousef Hussain Kamal Al-Emadi | |
|---|---|
| يوسف حسين كمال العمادي | |
 Kamal in 1999 | |
| Minister of Economy and Finance | |
| In office 16 February 1998 – 26 June 2013 | |
| Prime Minister | Hamad bin Jassim bin Jaber Al Thani |
| Preceded by | Mohammad bin Khalifa Al Thani |
| Succeeded by | Ali Sharif Al Emadi |
| Personal details | |
| Born | 1 January 1948 Doha, Qatar |
| Alma mater | Cairo University |
Yousef Hussain Kamal Al-Emadi (Arabic: يوسف حسين كمال العمادي) is a Qatari economist and politician. He served as the Minister of Economy and Finance from 1998 to 2013.
In addition to his ministerial role, he chaired several institutions like the Qatar National Bank (QNB), Qatar Steel, RasGas, and the Qatar Financial Centre. Additionally, he served on the boards of Qatar Airways, Qatar Investment Authority (QIA), and Qatar Foundation.
Early life and education
[edit]Kamal, a member of the prominent Al-Emadi family in Qatar, was born in 1948,[1] and raised in Doha. He pursued his academic studies at Cairo University,[2] where he earned a bachelor's degree in business administration in 1973.
Career
[edit]Yousef Hussain Kamal began his career in 1973 as a section chief at the Ministry of Finance and Petroleum.[3] He subsequently held several senior positions, including Director of Financial Affairs and Under Secretary of the Ministry of Finance, before being appointed Minister of Economy and Finance in 1998, a position he held until 2013.[4]
As Minister of Economy and Finance, Kamal helped implement several fiscal policies aimed at attracting foreign investment and strengthening Qatar's economic stability. In 2009, he oversaw the introduction of a new income tax law designed to improve investor confidence and streamline tax registration and filing procedures.[5][6] He promoted performance-based budgeting to support targeted and transparent economic development initiatives, ensuring coordination between public and private sector investments.[7] Kamal chaired several institutions, including Qatar National Bank, Qatar Steel, RasGas, Qatar Financial Centre, and the Doha Securities Market.[2] He also served on the boards of Qatar Airways, the Qatar Investment Authority (QIA), Qatari Diar Real Estate Investment Company, and the Qatar Central Bank. Kamal made several reforms to diversify Qatar's economy and reduce its dependence on hydrocarbons,[8][9] such as promoting investments in education, healthcare, and scientific research.[10] He issued bonds and bought stakes in banks in an attempt to mitigate the effects of the 2008 global financial crisis. [11] In 2011, he was named the Best Finance Minister in the Middle East and North Africa by Euromoney.[12]
Role as Minister of Economy and Finance
[edit]As Minister, Kamal oversaw the implementation of various economic reforms aimed at diversifying the Qatari economy beyond its reliance on oil and gas revenues. Recognizing the vulnerabilities of a hydrocarbon-dependent economy, he spearheaded initiatives to develop sectors such as finance, real estate, tourism, and infrastructure. These efforts were crucial in establishing Qatar as a regional hub for finance and commerce, attracting global financial institutions and multinational corporations.[13]
Kamal was a key figure in promoting foreign investment and enhancing the regulatory framework to support a more dynamic private sector. He introduced reforms to improve the business environment, streamline regulatory processes, and attract international investors.[14]
Under Kamal's leadership, Qatar made significant strides in strengthening its financial regulatory framework. He played a central role in the establishment of the Qatar Financial Centre (QFC)[15] and the Qatar Financial Markets Authority (QFMA),[16] which enhanced the transparency, efficiency, and robustness of the financial sector. These institutions facilitated the growth of Qatar's capital markets and positioned the country as a leading financial center in the Middle East.
Kamal also prioritized the development of infrastructure to support economic growth. He was instrumental in the planning and execution of major infrastructure projects, including the expansion of Hamad International Airport,[17] the development of the Doha Metro,[18] and the construction of new ports and logistics hubs. These projects not only bolstered Qatar's economic capacity but also improved its connectivity and competitiveness on the global stage.[19]
Kamal's role extended to international diplomacy in economic affairs. He represented Qatar in numerous global economic forums and negotiations, most notably chairing the Doha Ministerial Conference in 2001, where China was admitted to the World Trade Organization (WTO).[20] This event underscored his ability to navigate complex international trade issues and solidified Qatar's position on the global economic stage.
During his tenure, Kamal also focused on improving fiscal policy and public finance management in Qatar. He implemented measures to enhance budgetary discipline and transparency, which contributed to the country's robust economic performance.[21] His fiscal policies helped maintain economic stability, manage public debt effectively, and ensure the efficient allocation of resources.[14]
Role in Shaping Qatar's Economy
[edit]Qatar Energy
[edit]Kamal's leadership extended to the energy sector, where he held influential positions within Qatar Petroleum. Kamal's efforts also focused on sustainable energy practices.[22]
Qatar National Bank (QNB)
[edit]As Chairman of Qatar National Bank (QNB), Kamal was involved in transforming the bank into one of the largest and most influential financial institutions in the Middle East. He oversaw significant expansions, both domestically and internationally.[23]
Qatar Investment Authority (QIA)
[edit]Kamal played a significant role in the Qatar Investment Authority (QIA).[24]
Qatar Airways
[edit]In his capacity as a leader within Qatar Airways, Kamal supported the airline's rapid expansion and modernization efforts.[25]
Other Leadership Roles
[edit]Throughout his career, Youssef Kamal has chaired various committees and boards, both within Qatar and internationally. His expertise and leadership have been sought after in numerous sectors, including finance, energy, and economic development. He played a key role in the establishment of the Qatar Financial Centre (QFC)[15] and the Qatar Financial Markets Authority (QFMA).[16] Kamal also prioritized the development of infrastructure projects such as the expansion of Hamad International Airport[17] and the development of the Doha Metro.[18]
Kamal's diverse roles in shaping Qatar's economy have left a lasting impact on the nation's development. His strategic vision and effective leadership across various sectors have significantly contributed to Qatar's economic growth, diversification, and global integration.[21]
Awards
[edit]Kamal won the Euromoney Emerging Markets award for Best Finance Minister in the Middle East and North Africa in 2011.[26]
References
[edit]- ^ Who's Who in the Arab World (18th ed.). Publitec Publications. 2007. ISBN 978-3-598-07735-7.
- ^ a b "Attendees". Qatar 40 years. Retrieved 28 June 2013.
- ^ "Profile of Y. H. Kamal". Businessweek. Archived from the original on 29 June 2013. Retrieved 28 June 2013.
- ^ "QFC Authority Board". Qatar Financial Centre. Retrieved 17 August 2013.
- ^ "Overview of fiscal reforms". Oxford Business Group. Retrieved 10 June 2024.
- ^ "Qatar's tax law improvements". The Worldfolio. Retrieved 10 June 2024.
- ^ "Performance-based budgeting in Qatar". Financial Centres International. Retrieved 10 June 2024.
- ^ "Qatar's economic diversification efforts". Oxford Business Group. Retrieved 10 June 2024.
- ^ "Qatar's diversification strategies". The Worldfolio. Retrieved 10 June 2024.
- ^ "Kamal's vision for Qatar". Ministry of Finance Qatar. Retrieved 10 June 2024.
- ^ "Qatar's financial crisis response". MarketScreener. Retrieved 10 June 2024.
- ^ "Euromoney awards". The Worldfolio. Retrieved 10 June 2024.
- ^ "Qatar's Economic Diversification: The Present and Future". Retrieved 9 June 2024.
- ^ a b "Economic Policy in Qatar". Retrieved 9 June 2024.
- ^ a b "Qatar Financial Centre". Retrieved 9 June 2024.
- ^ a b "Qatar Financial Markets Authority". Retrieved 9 June 2024.
- ^ a b "Hamad International Airport". Retrieved 9 June 2024.
- ^ a b "Doha Metro". Retrieved 9 June 2024.
- ^ "Qatar Economic Overview". Retrieved 9 June 2024.
- ^ "World Trade Organization - China Joins WTO". Retrieved 9 June 2024.
- ^ a b "Qatar Ministry of Finance". Retrieved 9 June 2024.
- ^ "Qatar Petroleum". Retrieved 9 June 2024.
- ^ "Qatar National Bank". Retrieved 9 June 2024.
- ^ "Qatar Investment Authority". Retrieved 9 June 2024.
- ^ "Qatar Airways". Retrieved 9 June 2024.
- ^ "HE Yousef Hussain Kamalnamed Best Finance Minister in MENA". Zawya. 27 September 2011. Archived from the original on 29 June 2013. Retrieved 28 June 2013.
External links
[edit]
Media related to Yousef Hussain Kamal Al Emadi at Wikimedia Commons
