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Yousef Hussain Kamal Al Emadi
Yousef Hussain Kamal (Arabic: يوسف حسين كمال) 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 played a significant part in the governance of key financial and industrial institutions. He chaired several major 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 educationKamal 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. CareerYousef Hussain Kamal began his career in 1973 as a section chief at the Ministry of Finance and Petroleum.[3] Over the years, he ascended through various key positions, including Director of Financial Affairs and under Secretary of the Ministry of Finance before being appointed as Minister of Economy and Finance in 1998, a position he held until 2013.[4] During his tenure as Minister of Economy and Finance, Kamal played a significant role in implementing numerous fiscal policies that attracted foreign investments and bolstered Qatar's economic stability. In 2009, he oversaw the introduction of new income tax law, which improved investor confidence and streamlined tax registration and filing procedures.[5][6] He emphasized performance-based budgeting to facilitate targeted and transparent economic development initiatives, ensuring that government and private sector investments complemented rather than competed with each other.[7] Kamal's influence extended beyond the Ministry of Economy and Finance. He chaired several prominent 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. In addition to his ministerial and board roles, Kamal was involved in key economic reforms and initiatives aimed at diversifying Qatar's economy and reducing its dependence on hydrocarbons.[8][9] His efforts included promoting investments in education, healthcare, and scientific research.[10] He also played a pivotal role in navigating Qatar through the 2008 global financial crisis by implementing unconventional measures to stabilize the economy, such as issuing bonds and buying stakes in banks.[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 FinanceAs 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 EconomyQatar EnergyKamal'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)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)Kamal played a significant role in the Qatar Investment Authority (QIA).[24] Qatar AirwaysIn his capacity as a leader within Qatar Airways, Kamal supported the airline's rapid expansion and modernization efforts.[25] Other Leadership RolesThroughout 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] AwardsKamal won the Euromoney Emerging Markets award for Best Finance Minister in the Middle East and North Africa in 2011.[26] References
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