Banking & Commerce in Qatar: Autumn 2020 by Marhaba Information Guide, Qatar

BANKING QATAR EGUIDE LAYOUT.indd 1

8/2/20 10:17 AM

Founder & Managing Editor Hilary Bainbridge Marhaba endeavours to quote accurate information and updates each of its sections every issue. However, the magazine accepts no liability in the case of unintentional errors. © 2020 Marhaba Information Guide. All Rights Reserved. No part of this magazine may be reproduced, in any form, without written permission of the publishers.

Editorial Sarah Palmer (Editor), Ola Diab (Deputy Editor), Terry Sutcliffe, Gina Coleman Online Lubuna Jeffin Advertising Howard Bainbridge Digital Lalaine Turqueza, Charlotte Wright, Weslee Dizon, Sisner Baricas Jr. Retail Sales Ayen Molina Design and Artwork Dick Tamayo, Mar Principe, Arnel Ramos Dana Public Relations PO Box 3797, Doha, Qatar Tel (+974) 4465 5533, 4465 0083 Fax (+974) 4465 5588 General Information marhaba@qatar.net.qa Retail Sales retailsales@marhaba-qatar.com Follow us on

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QATAR BANKING AND AND COMMERCE E-GUIDE © MARHABA QATAR BANKING COMMERCE E-GUIDE © MARHABA

2 2 HOUSE AD M78.indd 1 LAYOUT.indd 2 BANKING QATAR EGUIDE

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eman

The information contained in this guide has been checked and verified as correct as at the time of compilation. Due to the COVID-19 pandemic, information is subject to change. Follow marhaba.qa for the latest updates.

Banking and Finance • • • • •

Useful Numbers: Banks and Exchange Houses The Banking Network in Qatar • Currency The Banking Sector • Qatar Central Bank • Qatar Credit Bureau Loans, Bank Charges and Interest Rates • Accounts • Offshore Banking Financial Services and Insurance • Islamic Finance

Economy • Economic Growth and Gross Domestic Product (GDP) • Trade Surplus • The Budget • Inflation and Cost of Living • Population and the Labour Force

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com

0 11:37 AM

Commerce Useful Numbers

Investment and Trade • • • • • •

Incentives • Investment Regulations • Choosing a Business Structure Company Structures • Commercial Registration Export and Import • Taxation • Intellectual Property Regulatory Bodies and Government‑owned Entities Qatar Financial Centre • Qatar Exchange • Real Estate Developers and Real Estate Agents Selling Property • Business Etiquette

Feature – The PPP Law Updated Qatar’s new public-private partnership law will see more joint ventures and foreign investment in the country.

Feature – A Sustainable World Cup Read about how Qatar will ensure the next FIFA World Cup will be completely sustainable.

MARHABA

Banking & Commerce

M78 AUTUMN 2020

000 BANKING QATAR EGUIDE LAYOUT.indd 3

8/2/20 10:17 AM

Al Khor Semaisma Lusail

al R am

e Rout

St sim

St Jawaan

St a iy us ro Fu

ag o

Al Co rn ic

Al Gharr afa St

afa Al R ayy an

Gh af f

Bi n

ziz

Ab du lA

erc ial A Jee ven ra ue

Ma jd Al

Al Majd Road (Orbital)

ital) (Orb oad ajd R

Al M

Lusai lS

d St

et tre

erg En

eet

Str

S leej

Newton British Academy

QRC

Hamad Port Rd

A l K ha

Barwa City

Stre

AHA

MIL

Sub-station

Newton Int’l Academy

Aba Seleel I/C

oad

R ing

rR ee aim

Sub-station

Grand Mall

i Al B

s Me

S et

Pak Shama

Mesaimeer Cemetery

Asian Town Cricket Stadium

VW Audi Q-Auto

hmou

pre

Religious Complex

Umm Al Seneem I/C

East Street 33 I/C

Industrial Area

Bin Ma

ale

Nissan

Lulu Hypermarket

Are rial

Medica Commissi

b Um a h m Al A Le kh h m a d C o ba I/C – H am

nue Ave fwa Sa

ust

Ind

nue

al stri du

4 et

Stre

et Stre

try

Ind

A cial mer Com rkan A

Mesaimeer I/C

New I/C al erci

ria

Ansar Gallery

In st Ea

Stre

1 et

CMC

Stre

try

s du

New Industrial Area et

BANKING QATAR EGUIDE LAYOUT.indd 4

Com

Summit KG

Tank Farm

Safari

Dragon Mart

et 3

Stre

Qatar Ind Tech QDC

Mind Institute

S et Elite Paper Stre Recycling

Stre

)

l ta bi

( Or

Medical Commission

Stre

Ocean Fish

ad Ro

Mesaieed Sealine Resort

to lU

Bar

y Sa

Al M ajd

East Street 23 I/C

Newton Int’l

Zaks Uniform Store Ideal Indian

Chevrolet

Doha Mall Al Jazeera Academy

Gulf Warehousing Company

reet

Al Hemaila Medical Centre

gy St Ener

Police Training Institute Police College

Ford

FAHES

Porsche

Hazam Mebaireek General Hospital

Mesaieed I/

ori

rat

tria

Ind

Camp

Bangladesh

wa Bar Joud

Labour Dept

Al Attiyah Souq

R wa

Gulf Warehousing Co

Al Sailiya I/C

/C)

Aqua Park

Al Sulaiti

lat Porsche

eb eir

D Ring Rd

Immigration

Park House

S ya

Renault

Pak Education Centre

Ruqayya

New Central Market for Vegetables and Fish

e Stre

Industrial Services Centre Finger-printing for Companies Trafﬁc Investigation Division

Honda Volvo

Four Points by Sheraton

sh Mu

Doha Academy Girls Al Ma Creativity ad Centre ee Egyptian dS Qatar t Language Skills Academy TEK Cambridge Indian Alfardan Girls Cultural Gardens 3 MES Centre Doha Modern Mesaimeer Indian Mesaimeer Services

01 Mall

Bu Samra, KSA Umm Bab Mesaieed Aqua Park (U-turn at Rawdat Rashed I

Mannai Toyota Nissan Mitsubishi

Bu Sidra I/C

Bin Mahmoud

Umm Al Senee

PISQ

NBK

d St eara Al M Ras

Al Maha

Mesaimeer Vaccination Unit Qatar Scientiﬁc Club

Ain Khaled Gate

23 1

La Cigale

sta

K h al

Al Sadd

ale

Forensic Lab Dept

Al Maamoura Trafﬁc Police

les

BMW

Vet Surgery

Little Academy

Alfardan Gardens 4 Dar Al-Salam Mall

Ain

ital) (Orb

Khaled Bin Ahmed I/C

CEID

B in

mad Su h aim Bin Ha

Lycee Voltaire

Elder Tree Nursery

Al Sadd St

Joaan

German School Doha

d yR

Road

iza

Cit

ajd Al M Abu Bakir Siddique

Avenue Millennium Royal Plaza

Zakat Fund

NCCCR Rumailah Heart

r ts

Renault

Doha British

53 Al Sailiya Sports Club

St Mitsubishi

Alfardan Gardens 2

Grand Regency

idr

Spo

Tebah Gardens

White Palace

Hamad

GAC

Garvey’s

Al Mour

Qatar National Theatre

Hamad Ambulance Al Bidda Hospital Wyndham

Al Asmakh Mall

Beverly Hills

Al S

Doha Academy Al Waab Campus

Aziziya

zizi

Summit Academy

Belgravia

Al A

Al Furousiya St

Qatar Veterinary Centre

Newton

eS Z on

Royal Vet

a iliy

AIA

British Council

Beverly Hills Gardens

Sport City

ir e

Al Aziziyah

Asp

Villaggio

Corniche

Ona

Awqaf

GPO

Fire Station

Women’s

Aspetar

aab

Al W

MoI HQ

Warwick

Torch

Busy Bees Nursery

Khalifa Stadium 2022

Queen Medical Centre

Hyatt Plaza

or t rrid Co nS ye ad ay m Er Ah

Aspetar

KidsZania

Sedaira St

an St

Aspire Park

Al Aziziyah Boutique Hotel Academy

60ST

i DoubleTree ad Chevr W Doha Clinic Gulf Pearls Al Sadd Hospital Westin Doha Al Sudan Al Munt QNA Hotel & Spa The Al Mirqab Centre Study Mall Radisson Plus Family Jarir Blu Food Centre aalishan d Sterling Step by Step Cafe aR American Batteel lw Sa CESK C R Hospital Al Sadd Rawda ing Nissan Club St CCQ Rd Al Kha lib Girls Garde Ta Al Asiri I/C i ASD Ab CAA in Al Waab B Doha City Ali College Al Arabi Club Hyundai Genesis Darwis Chevrolet St Dhreima Travel ul

Al Waab

Aspire Zone

da Bid P

i St hanCorniche in T ed B mm Al Bidda ha Mo Park

City

Debakey

Al Rayy

Imperial Suites

r th S Al Muaith e r No

Lulu

54 38

Driving School

Qatar Sports Club

36 37 11 Medical

Al Messila

The

20 10

Town Centre

lM uk ht

Newton

West Bay

Khalifa Tennis & Squash Complex Barzan

Nissan Civil Defence Al Ahli Hospital

Messila

Al Salam St

Trafﬁc Police

Royal Hall

Wathnan Mall

Appletree Nursery

Al Rayyan Security Dept

s St ufou Al Kh Al Rayyan

Edison

Philippine School of Doha

Al Messila Resort & Spa

Al Rayyan I/C

Al Shedaida St

Newton

University of Calgary

yan Al Jadeed S t

Compass

Racing & Equestrian Club

Al Jazira Al Arabiya St

Beverly Hills Al Rayan

Al Jazeera

li S

DESS

Khattab St

University Foundation College English Modern School

QBS QTV

34 35

French Nursery

Al Rayyan Al Qadeem

5/6 I/CO Arches ma

Al Jazi Gardens

Volvo

tee

Qatar Guest Centre

Imam Mohd Ibn Abdul Wahab Honda

Bi med Ah

adeena St Al M

Al Wajba St

Metro Stations

Edison

Trafﬁc Dept HQ

ad in Ham

Al Ray

Al Q a l ah S

St jba

Red line Lusail - HIA T1 - Al Wakra Green line Al Riffa - Al Mansoura

Jarir Hu Bookstore

Ansar Gallery

Al Shaﬁ St

a Al W

All trains connect at Msheireb Station

Al Shaqab

lM uk ht ar

Al Hazm

Khalifa St

Omar Bin Al

eday St Al B

Al Rayyan Municipality Food Centres

Doha College Al Wajba

Doha Metro Network

Makkah St

Education City St Al Rayya

Chef’s Garden

EC Golf Club

Gate 5

Doha Exhibition Centre

SEK Doha College WB Campus

West Bay Al Meera

Jasi m B

Mathaf

Makkah St

Al Shaqab

Chouiefat

Institut Francais du Qatar

Omar A

Starﬁsh Lane Kids

Omar Bin Al Khattab

Swiss International

Newton

Al Khafji St

Onaiza St

Qatar Nat’l Library

EC Stadium 2022

CCQ Boys

32 33

Al Gharrafa I/C

Gate 2 Oxygen Park

sit

Madinat Khalifa

Immigration Dept

Al Luqta St

Education City

Gold line Al Aziziyah - Ras Bu Abboud

National Library

K 21

Elder Tree KG

Souq Al Ali

a St

Al Lu

Porsche Quick Service

Compass QNCC Qatar

Car Park

Kanga’s Pouch

a St

Park View Compass Pet Centre

Little Academy

Edison

Umm Lekhba I/C

QSTP

in Jassim

Dahl Al Hamam Family Park

Al Wajba

Al Markhiy

St on

Lusail St

T h a ni B

Qatar Environment and Energy Research Institute (QEERI)

Tawar Mall

ACS Int’l School Ezdan Mall

et il Stre Lusa

Road

uard

Gulf Mall

Dukhan

iri G

LuLu

Education City Community Housing

31 Ezdan Palace Landmark Mall

22 Feb

rhab

Gulf English School

iya r kh Ma

Al Te

Al Jahanniya I/C

AlRayyan Hotel

Al Riffa

iﬁ

Lycee Wadi Rawd a n St Voltaire

Al Ghaf St

Jelaiah Complex

Qatar Canadian School

Duhail I/C

Education City Premier Inn

Japan School

Mall of Qatar

19 20

Sherborne

Interchange

Starﬁsh Lane Kids 2

Al Khafji St

Al Gharrafa Sports Club

13. Qatar Foundation Headquarters

Celebration Hall

Riviera Gardens

Al Rayyan Stadium 2022

College of the North Atlantic

Qatar Veterinary Centre

l St

uhai

Al D

14. Qatar National Convention Centre (QNCC) 15. Qatar National Library (QNL) 16. Qatar Science & Technology Park (QSTP) 17. Sidra Medicine 18. Texas A&M University at Qatar (TAMUQ) 19. Virginia Commonwealth University School of the Arts in Qatar (VCUarts Qatar) 20. Weill Cornell Medicine-Qatar (WCM-Q) 21. Academyati

Doha Golf Club

Legtaiﬁya Lagoon

ue Leag Arab

Interchange

Al G

Academic Bridge Program (ABP) Al Shaqab Carnegie Mellon University in Qatar (CMU-Q) Ceremonial Court Georgetown University in Qatar (GU-Q) Education City Golf Club Hamad Bin Khalifa University (HBKU) Mosque Multaqa (Student Center) Northwestern University in Qatar (NU-Q) Oxygen Park Qatar Academy Doha (Primary School)

Doha Sports Park

QIPCO

Qatar University

Jeliah St

t tS

hezl

( )

Education City EC

St iya

Doha Shooting Club

North Gate

Marina D

Ministry of Education

Izghawa I/C

ion u ct str con

hawa

Compass

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.

r re

Al Izg

QNTC MOCI

Shafallah Centre

Abdullah Bin Khalifa Stadium (Lekhwiya Stadium)

Vendome Mall Qatari Diar

Stre

WOQOD

Str

rfa

a Tarf

Newton

FAHES

t et S

Al Rufaa Street

4 3

kre Ze

Dukhan Zekreet Al Sheehaniya Sheikh Faisal Museum Al Wajba

nd e

Al Kharaitiyat I//C

QATAR

Beverly Hills Lusail Energy City Qatar

Qatar Petroleum District

Duhail Water Pumping Station

Doha Festival City

CGIS

Fox Hills South

1A u

oad

Doha prepared in cooperation with

Crescent Park

The International School of London in Qatar

IKEA

vard

Boule

ercial

Comm

Lusail

om m

ACS

Qatar Finland Int’l School

Map of Greater

Fox Hills North

d stal R

Lusail Stadium 2022

r Coa

Al Shamal Al Ruwais Ras Laffan Al Zubara Al Khor Umm Garn Umm Slal

o Al Kh

Lusail Al Mazrooah Al Shamal Rd

Ras Laffan Al Shamal Al Zubara Al Khor Al Shamal Rd

Barwa Al Baraha

8/2/20 10:17 AM

Birla

4 Qetaifan Island North

Lusail Stadium 2022

Qetaifan Island North

EMBASSY LOCATIONS

Fox Hills North

Waterpark Project vard

Boule

ercial

Comm

Crescent Park

Fox Hills South

e 1A

Lusail City

und

Beverly Hills Lusail

n tio ruc nst eco er r

Vendome Mall

Energy City Qatar

Qatar Petroleum District

Qatari Diar

Stre

19 20

et il Stre Lusa

rfa

Al Ta

WOQOD

Katara Towers

Marina

Marina District

Staybridge Suites Doha Lusail Katara Hospitality

Doha Sports Park

QIPCO

tar rsity

Ritz-Carlton

Grand Mondrian Hyatt

Legtaiﬁya Lagoon

Qanat Quartier

Hilton The Pearl

Legtaifiya

Abraj Quartier

ag o

sit

Chouiefat

Institut Francais du Qatar

Omar A

son

CCQ Boys

sim

Bi n

ziz

Ab du lA

li S

Four Points by Sheraton

National Museum of Qatar

he St Souq Al Cornic Waqif Bin Zaid MME Movenpick

Alwadi

Msheireb

Souq Waqif

Saraya

National Museum

Ras Abu Aboud Stadium 2022

Doha Marriott

Sharq Village & Spa

d St

e eir sh Mu

Bin Mahmoud

t bS

Mercure Al Safa

d St A b bo u Ras Bu

Premier Inn Capital Al Liwan Police Concorde Jarir Bookstore

t d S

Rawdat Al Khail St

bou

erc ial A Jee ven ra ue

ng Rd

Kahramaa Water Project

Airport (49) I/C

B Square Mall

MegaMart

Bangladesh

Mauritania

Belarus

Mexico

Belgium

Moldova

Morocco

Bosnia & H

Nepal

Brazil

Netherlands

Brunei

Niger

Bulgaria

Nigeria

Burkina Faso

Oman

Canada

Pakistan

Palestine

Chile

Panama

China

Paraguay

Peru

Croatia

Philippines

Cuba

Poland

Cyprus

Portugal

Djibouti

Romania

Dom. Rep.

Russia

Ecuador

Senegal

Serbia

Eritrea

Singapore

eSwatini

Somalia

Ethiopia

South Africa

France

Spain

Gambia

Sri Lanka

Georgia

Sudan

Germany

Sweden

Ghana

Switzerland

Greece

Syria

Hungary

Tajikistan

India

Tanzania

Indonesia

Thailand

Iran

Tunisia

Iraq

Turkey

Italy

Uganda

Ivory Coast

Ukraine

Japan

United Kingdom

Jordan

United States

Kazakhstan

of America

Kenya

Uruguay

Korea (S)

Venezuela

Kosovo

Vietnam

Al Jasra Al Bidda Mohd Bin Jasim Mushaireb Barahat Al Jufairi Old Al Ghanim Al Souq Wadi Al Sail Arumaila, Armeilla Al Bidda Abdul Aziz Al Doha Al Jadeeda Old Al Ghanim Sharg Zone/ Al Hitmi/Al Rufaa Sharg Zone/Slata Doha Port Wadi Al Sail Al Rumeila, Armeilla Bin Mahmoud Bin Mahmoud Rawdat Al Khail Al Mansoura/ Bin Derhem Najma Umm Ghuwailina

28 Sharg Zone/ Al Khulaifat 29 Ras Bu Abboud 30 Duhail 31 Umm Lekhba 32 Madinat Khalifa (N) 33 Al Markhiya 34 Madinat Khalifa (S) 35 Kulaib 36 Al Messila 37 New Al Hitmi/ Bin Omran Hamad Medical City 38 Al Sadd 39 Al Nasr/Al Sadd Al Mirqab Al Jadeed 40 New Slata 41 Nuaija 42 Al Hilal 43 Al Maamoura, Nuaija 44 Nuaija 45 Old Airport 46 Mesaimeer/ Al Thumama 47 Al Thumama 48 Doha Int'l Airport 49 Hamad Int'l Airport/ Banana Island

51 Al Gharrafa/ Bani Hajer 52 Al Luqta/Lebday Old Al Rayyan/ Al Shaqab 53 New Al Rayyan Muaither, Al Wajba 54 Al Soudan, Mehairja, Muraikh, Luaib, Baaya 55 Al Soudan, Al Waab 56 Bu Hamour, Mesaimeer, Ain Khaled 57 Industrial Area 60 Al Dafna 61 Al Dafna, Al Gassar 62 Lekhwair 63 Onaiza 64 Lejbailat 65 Onaiza 66 Legtaiﬁya, Onaiza 67 Hazm Al Markhiya 68 Jelaiah, Al Tarfa 69 Al Egla 70 Wadi Al Banat, Al Ebb Rawdat Al Hamama

Legend

Ras Bu Fontas

Barwa Village

R ing

Birla

Free Zone

kra

om m

Mali

Malaysia

F Ri

d ou

ri St

Ansa

Ras

ub Al

ng Rd

F Ri

Al Meera

Air Force I/C

Najma

Barwa City

Lulu Hypermarket

Azerbaijan

Hotel

Hospital

Mosque

Shopping Mall

Bookstore

Religious Complex

Cultural Landmarks

Sports Stadium

Petrol Station

Government Ofﬁce

School, College, Club

Veterinary Clinic

Housing Complex

Club

Sub-station

Auto Dealer

Restaurant

Non-stop Expressway

Health Centre

Road Interchange

New Interchange

Umm Besher I/C

Sub-station

Ayyo

Pak Shama

26 27

Abu

New I/C

18 19 20 21 22 23 24 25

daill

Al Fa

Masaken Mesaimeer

Religious Complex

Ansar Gallery Nissan

Um h Al Weteyyat I/C m Al A Le kh h m a d C orridor ba I/C – H amad Int’l Airport

Kahramaa Awareness Park

Kings College

Sub-station

Thumama 2022

Drainage Dept

HIA T1

Airport Trafﬁc Supreme American Division Education Academy Council

Medical Commission

Concourse C

Naﬁe St

Sa ba

ue a afw

Ras Abu Funtas Power Station

Al Wakra

Newton British Academy

Bu Ras

Funtas St Celebration Hall

Newton Int’l Academy

Soud Bin Abdulrahman Street

pr Ex ay

Al Wukair

Al Wukair I/C

Ezdan 3

Najm a Stre

Al Wakra Sports Club

Vision International

Doha British Al Meera

Al Janoub Stadium 2022

Public Beach

Souq Al Wakra Hotel

Souq Al Wakra Ezdan Mall

r Roa

ukai

Al W

Al Wakra Hospital

Al Wakra

Mesaieed Road Hamad Port

Al Jabal St

Souq Al Wakra

Park

eed Road

Ezdan 10

Noble International School

GEMS Grand American Hypermarket Academy Ezdan 7 Pharmacy Ezdan 8

n from

Ezdan 5

nsio

Ezdan 4 Ezdan 6

Al Meshaf I/C

akra Al W

Exte

eer ery

Mesaimeer I/C

Safari Mind Institute

Oryx Airport Hotel

Oqba Ibn Nafie

Shoprite

Zaks Uniform Store Ideal Indian

Qatar Ind Tech QDC

Berlitz

ria

Oqba Bin

1 2 3 4 5 6 7 10 11 12 14 15 16 17

Hamad International Airport

Airport

E Ring

E Ring Rd

Doha Mall Al Jazeera Academy

Montezine

t aS

rR ee aim

desh

The Mall IAID

Qatar Red Crescent

Tank Farm

Immigration

Park House

Al Ahli Sports Club

s Me

Summit KG

Elder Tree Nursery

LuLu

Regency Kahramaa Halls

Air

Newton Int’l

Little Academy

2526 Najma St

pre

D Ring Rd

German School Doha

Pak Education Centre

Austria

Full details of Qatar’s districts and zones on gisqatar.org.qa

Ras Bu Abboud

Abu Baqr

Al Doha Al Jadeda

41 42

Macedonia

(zones comprise one or more districts, some of which are listed below)

C Ring Rd

Libya

THE ZONES OF DOHA

Me s a i

Amiri Diwan

Grand Hamad

Jawaan

16 23 14 15 27

La Cigale

Liberia

Australia

Banana Island by Anantara

i DoubleTree ad Chevrolet Qatar W Doha Clinic Gulf Pearls Al Sadd Aeronautical Hospital College Westin Doha Crowne B Ring Rd Al Muntazah Hotel & Spa Plaza The Doha Heliport Al Mirqab Chevrolet Centre Holiday Mall Umm Al Meera Radisson Family Inn Jarir Blu Food Centre Ghuwailina aalishan d Sterling Al Meera Cafe Oryx Al Mansoura aR American Batteel lw Rotana Ford Sa C R Hospital AAB Mashreq Rawdat ing Nissan Bank St CCQ Al Mana Holiday Al Matar Al Qadeem Rd Al Khail lib Girls Garden Villa Al Jabor Rd Chrysler Ta g Al Asiri I/C i n Vision C Ri Ab CAA Bin Gulf Times Financial Marhaba Ali Safeer Arrayah Al Arabi Square Gulf Club Rd Family Warehousing ing Food Centre Al Meera Alfardan R Al Emadi Darwish D St Hospital Le Mirage Gardens hreima Travel ul QNA

Armenia

Doha Port

Museum of Islamic Art

S leej

Al Sadd

hmou

Joaan

ritish ouncil

Vet Surgery

A l K ha

Al Sadd St

Bin Ma

Al Asmakh Mall

mad Su h aim Bin Ha

Suites

Avenue Millennium Royal Plaza

Sheraton

11 12 2 17 22 13 34 5 6 17

White Palace

Hospital

Wyndham Grand Regency

Argentina

i St hanCorniche

NCCCR Rumailah Women’s Heart Hamad Ambulance Al Bidda

Warwick AIA

Ooredoo

Hotel Park

Al Bidda Park

Hamad

an St

60STower t

i Al B

City

Debakey

in T ed B

nduq

Four Seasons

Katara The Pearl-Qatar Lagoona Mall Al Bidda Park Souq Waqif Qatar National Museum Grand Mosque QNCC Al Shaqab Mathaf Museum

Al Mourjan

Qatar National Theatre

Fire Station

iza

MoI HQ

mm ha Mo

Al Fu

Marriott Hotel Sharq Village & Spa Fisherman’s Wharf Museum Of Islamic Art The Corniche Orrie Oryx City Center-Doha Hotel Park Hilton Hotel InterContinental Hotel

Hilton

GPO

Corniche

Ona

Bi med Ah

37 Medical

DECC

St da Bid Palm

Al Co rn ic

20 10

Town Centre

Khalifa Tennis & Squash Complex Barzan

Nissan Civil Defence Al Ahli Hospital

City Center Retaj Doha Rayyan

Tornado Tower

Qatar Sports Club

Al Jazeera

DOHA HOP-OFF BUS SIGHTSEEING ROUTE stops at

Diploma

Newton

West Bay

Volvo

QBS QTV

InterContinental

rea

Qatar uest Centre

lM uk ht ar

St Regis

The Gate

Imam Mohd Ibn Abdul Wahab Honda

Lebanon

El Salvador

The Pearl-Qatar

A tic

Al Jazi Gardens

iya r kh Ma

Edison

Floresta Gardens

Beach

Onaiza St

Viva Bahriya

Sedra Arjaan Residences by Rotana Perlita Gardens

5/6 I/CO Arches ma

Al Hazm

Medina Centrale Novo Cinemas

SEK Doha College WB Campus

West Bay Al Meera

Kyrgyz Rep

Costa Rica

Al Qassar

lM uk ht ar

Kanga’s Pouch

Porto Arabia

Beach

Doha Exhibition Centre

The PearlQatar

Porsche

Ronautica

Water taxi service 31 Boat trips/hire

Newton

Al Khafji St

Lusail St

21 High St

Lycee Wadi Rawd a n St Voltaire

Al Ghaf St

La Cr

Diplomatic Club

Katara

Oyster

St on

14 15

ette ois

Lusai lS

Ministry of Education

Marsa Malaz Kempinski

Beach

oi La Cr sette

Lagoona Mall

iﬁ

Kuwait

Algeria

C. African Rep

Doha Golf Club

Albania

Benin

QNTC MOCI

Shafallah Centre

wton

Lusail Marina

Afghanistan

Time Rako

000 BANKING QATAR EGUIDE LAYOUT.indd 5

8/2/20 10:17 AM

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BANKING QATAR EGUIDE LAYOUT.indd 6

MARHABA

8/2/20 10:17 AM

Banking and Finance Bank

Telephone Website

Regional Banks Ahlibank

4420 5222

ahlibank.com.qa

Al Khalij Commercial Bank

4494 0000

alkhaliji.com

Commercial Bank of Qatar

4449 0000

cbq.qa

Doha Bank

4445 6000

dohabank.qa

Qatar Development Bank

4430 0000

qdb.qa

Qatar National Bank

4440 7777

qnb.com

Arab Bank Qatar

4438 7777

arabbank.com.qa

Bank Saderat Iran

4441 4646

bsi.com.qa

BNP Paribas

4453 7115

mea.bnpparibas.com

HSBC

4442 4722

hsbc.com.qa

Mashreq Bank

4408 3333

mashreqbank.com/qatar

Standard Chartered Bank

4465 8555

sc.com/qa

United Bank Limited

4444 1314

ubldirect.com

Branches of Foreign Banks

Islamic Banks Barwa Bank*

800 8555

barwabank.com

Masraf Al Rayan

4425 3333

Qatar First Bank

4448 3333 qfb.com.qa

Qatar International Islamic Bank

4484 0000

qiib.com.qa

Qatar Islamic Bank 4402 0888

qib.com.qa

alrayan.com

Investment Banks QInvest

4405 6666 qinvest.com

*Barwa Bank merged operations with International Bank of Qatar in April 2019

Currency and Exchange Alfardan Exchange 4453 7777 alfardanexchange.com.qa Al Jazeera Exchange 4436 3822 aljazeeraexchangeqatar.com Al Mana Exchange 4442 4226 almanaexchange.com Al Sadd Exchange 4432 3334 Al Amir Street Arabian Exchange 4443 8300 arabianex.com Gulf Exchange 4438 3222 gulfexchange.com.qa/en Travelex Qatar 4443 4252 travelex.qa Unimoni Exchange 4436 5252 unimoni.com/qat Western Union Send money online and via the app, or find a branch at westernunion.com/qa/en

The Banking Network There are over 250 bank branches and 850 ATMs across the country, with most in Doha but also further afield. They are located in nearly all of the malls, hotels, souqs and petrol stations. Visitors can usually access funds in their home accounts by using their ATM cards here, and some allow the withdrawal of USD and Euro – check with the relevant bank(s) for commission or exchange rate fees. Major credit cards are widely accepted. Exchange houses provide remittance services and foreign exchange and are licensed by Qatar Central Bank. There are no exchange control regulations, but movement of money in and out of local accounts is monitored. Account holders may need to provide a declaration of origin for large cash deposits. The GCCNET system, established by the GCC countries, acts as a single ATM network linking all the GCC point of sale switches – in Qatar this is NAPS (National ATM & POS Switch). Opening hours: Generally Sunday – Thursday 7:30 am – 1 pm, however many banks have extended branch operations. Check the respective bank's website for up to date timings and locations of branches and ATMs. All day/extended hours: Ahlibank, City Center-Doha: Saturday – Thursday 10 am – 3 pm, Friday 4 pm – 10 pm CBQ, mall branches: Saturday – Thursday 9 am – 2:30 pm/3:30 pm – 9 pm, Friday 3:30 pm – 9 pm Qatar Islamic Bank, Medina Centrale, The Pearl‑Qatar: Sunday – Thursday 11 am – 6 pm Friday: Al Khalij Commercial Bank (al khaliji), City Center-Doha: 4 pm – 9 pm QNB, City Center-Doha, Lagoona Mall and Medina Centrale, The Pearl-Qatar: 3:30 pm – 9 pm Saturday: HSBC, City Center-Doha: 8:30 am – noon QNB, City Center-Doha and Lagoona Mall: 9 am – 2:30 pm/3:30 pm – 9 pm ©

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Currency The unit of currency is the Qatari Riyal (QAR), divided into 100 Dirhams (Dh), issued by Qatar Central Bank (QCB). It is pegged to the US dollar at a fixed exchange rate of USD1 = QAR3.64. Notes in circulation are QAR1, QAR5, QAR10, QAR50, QAR100 and QAR500; coins are Dh5, Dh10, Dh25 and Dh50. Banknotes incorporate security threads, as well as special features for recognition by the blind and visually impaired. Four GCC countries support the creation of a Gulf Monetary Union (GMU) – Qatar, Saudi Arabia, Kuwait and Bahrain; the UAE and Oman have withdrawn entry. The GCC Supreme Council in 2008 approved the Monetary Union Agreement and the Statute of the Monetary Council. The headquarters of the Gulf Monetary Council opened in Riyadh in October 2013. Monetary union between the GCC countries was proposed in December 2013; subsequently Qatar, Kuwait, Bahrain and Saudi Arabia agreed to establish a unified central bank with a currency pegged to the US dollar. However, there has been no further action since 2013, and this looks unlikely given the blockade which started in June 2017..

The Banking Sector The Qatari banking sector currently comprises a number of regional, foreign and Islamic banks. The state-owned Qatar Development Bank provides financing to small and medium enterprises, while QInvest focuses on investment banking, asset management and investing its own capital. Barwa Bank and International Bank of Qatar (IBQ) signed a final agreement in August 2018 to merge the two banks – the first in Qatar's banking history – to create a Sharia-compliant financial institution with more than USD22 bn in assets. The legal merger was completed in April 2019 with the entity trading as Barwa Bank and IBQ products converted to Sharia-compliant equivalents. June 2020 saw negotiations open for another potential merger between Masraf Al Rayan and Al Khalij Commercial Bank (al khaliji). Masraf Al Rayan is Qatar's fourth largest bank and was previously involved as a third bank in the merger between Barwa Bank and IBQ. This new merged entity would operate as an Islamic bank with assets making it the third largest in Qatar after Qatar National Bank and Qatar Islamic Bank. A new loan-to-deposit requirement of 100% came into effect in 2018. The adoption of International Financial Reporting Standard (IFRS) 9 by QCB has strengthened the provision coverage at Qatar’s commercial banks – under the IFRS standard, banks and financial entities have to set aside a certain proportion of profit against losses for unseen reasons. QCB data shows the NPL ratio was 3.0% in 2018. QCB also set up the Supreme Emergency Committee in 2018 to monitor the day-to-day activities of financial institutions in the country, addressing emergency matters and easing the flow of work. QATAR BANKING AND COMMERCE E-GUIDE ©

The International Monetary Fund (IMF) stated in June 2019 that 'Qatar’s banking sector remains healthy, reflecting high asset quality and strong capitalisation' and that 'Qatar’s economy has successfully adjusted to the dual shocks of lower oil prices and diplomatic rift. Prudent fiscal policy, an appropriate monetary anchor, sound financial regulation and supervision frameworks and considerable buffers continue to underpin strong macroeconomic performance. Increased gas production, a slower pace of fiscal consolidation, infrastructure programmes and adequate credit growth will underpin growth over the medium term.'

Qatar Central Bank Under Law No 13 of 2012 Qatar Central Bank and the Regulation of Financial Services, QCB is deemed an autonomous corporate body, with a capital of QAR50 bn (USD14.28 bn) and under the direct control of The Amir. It is headed by a governor appointed by The Amir, and primary goals include financial stability, supporting developmental activities and strengthening the national economy. The law is not just for banks, but includes insurance companies, exchange houses, Qatar Exchange and QFC‑registered entities. Decree No 27 of 2018 renewed the term of the Governor of QCB, HE Sheikh Abdulla bin Saoud Al Thani, for five years from June 2018. Under Law No 13 of 2012, the Financial Stability and Risk Monitoring Committee shall study existing and future risks related to all banking, financial, insurance and stock market activities. The panel works closely with the Ministry of Finance to frame general policies. The law provides strict penalties for anyone accepting deposits from the public without a valid licence from the banking regulator – violators can

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face a jail term of up to five years and/or a fine of up to QAR5 mn. For those refusing to accept the legal tender of Qatar, there is a jail term of three years and/or a fine of up to QAR5 mn. Issuing forged currency means 10 years in jail and/or a fine of QAR10 mn. Manipulating accounts incurs a prison term of up to three years and/or a fine of up to QAR200,000.

Strategic Plan 2017–2022 for the future of financial sector regulation in Qatar, an extension of the First Strategic Plan 2013–2016. The new plan comprises five main goals:

Regulations in 2013 curbed local banks’ investment options. Equities and bonds can account for up to 25% of a bank’s capital and reserves (previously 30%); debt issued by the government and national banks are exempt. The regulations also limit the amount banks can place with individual companies and unlisted securities: a maximum of 5% of capital and reserves for foreign investments and 10% domestically. The cap for total foreign equities is set at 15%.

• Maintaining integrity of and confidence in the financial system.

Law No 20 of 2019 on combating money laundering and terrorism financing was issued in September 2019, replacing Law No 4 of 2010, with implementing regulations following in December. The new law is in accordance with the latest international standards adopted by major international organisations including Financial Action Task Force, and highlights Qatar's regional role in setting standards in its legal and regulatory framework for combating money laundering and terrorism financing. The Qatar Renminbi Centre (QRC), which opened in 2015, is the first clearing centre in the region to offer Renminbi (RMB) clearing and settlement, increasing financial connectivity between China, Southwest Asia and the MENA region. The centre provides access to China’s onshore RMB and foreign exchange markets to local financial institutions – Chinese companies have become active partners in the Qatar market, and the RMB centre will facilitate trade via their agreement with QCB. qatarrmbcentre.com Fintech regulations Noting the increasing growth and popularity of fintech, QCB has established the Fintech Regulatory Sandbox and launched Qatar FinTech Hub (QFTH) as a means of boosting financial innovation, one of the objectives of its strategic plan (see below). The regulatory sandbox, co-founded by Qatar Development Bank, invites entities to safely live-trial their services in the digital payment services space. fintech.qa The Second Strategic Plan for Financial Sector Regulation 2017–2022 QCB, the QFC Regulatory Authority (QFCRA) and the Qatar Financial Markets Authority (QFMA) jointly launched in December 2017 the Second

• Enhancing financial sector regulation and promoting regulatory cooperation. • Developing financial markets and fostering financial innovation.

• Promoting financial inclusion and financial literacy. • Developing human capital.

The plan aims to create a regulatory framework allowing growth, is 'inclusive and sustainable', promotes innovation and financial technology (fintech), and successfully tackles cyber-security threats. qcb.gov.qa

Qatar Credit Bureau Bad loans have been reduced since the Bureau started operations in 2011. The centre is not involved in the granting of credit facilities to individuals nor imposing any restrictions on banks. Access to customers' creditworthiness is available only to institutions operating under QCB. Qatar Credit Bureau provides analytical data and supports banks’ use of advanced techniques in risk management, as well as support sustainable growth of credit in Qatar. It provides banks with information on customers' total exposure in the market and the loans they hold, enabling banks to choose prospective customers. cb.gov.qa

Loans, Bank Charges and Interest Rates Loans: Under QCB rules, a doubtful loan is one in which no monthly instalments have been paid for 180 days; a bad loan is one that has not been serviced for a year. Banks in Qatar have to closely monitor loan disbursement and forward reports on customer creditworthiness to QCB. There is also a duty to track and follow defaulting customers and seek resolution – if this fails, they will take legal action. Non‑payment of loans could lead to a travel ban for Qatar and possibly the GCC. QCB has imposed ceilings on the amounts a bank can lend as a personal loan both to citizens and expatriates. Banks cannot lend more than QAR400,000 as a personal loan to an expatriate, with a maximum repayment period of 48 months, against a maximum 50% of total monthly salary, and at a maximum 6.5% interest rate. Qatari citizens can have a maximum loan of QAR2 mn over a maximum 72 months. Banks cannot use post‑dated cheques for the loan value. ©

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Mortgages: Generally available – check with each bank for their individual requirements. Documents usually required: Valuation Report from an approved real estate agent; salary assignment letter if the home loan is the first facility with the bank; ID for Qataris or passport and valid residence card for expatriates; copy of the Title Deed and map; and building insurance cover. Discuss provision for life assurance against any loan amount taken and consider updating your will.

The system applies to all accounts in banks operating in the country, found on bank statements or online in account details. The existing account number is not replaced; additional characters appear in front of the account number to form a 29‑character IBAN. All incoming and outgoing transfers to and from banks and financial institutions must use IBAN. Opening an Account: Documents usually required: • A valid residence card or work visa. A worker’s

Bank charges: Banks must prominently display all interest rates on personal loans and credit cards, as well as publish them in local newspapers.

dependants (eg spouse and family) can open an account but may require his permission as he is their sponsor (check with the individual bank). • Valid passport. • For current accounts, a letter from the employer/ sponsor confirming the monthly salary in Qatari Riyals, with the company’s official stamp. You may have to transfer your salary to the new account but check with the individual bank. • Some banks may ask to see your tenancy agreement to establish your residential address. • Take copies of these documents, along with identity photographs. Ask for photocopies of any documents signed.

Credit cards: A maximum 12% annual interest rate can be charged. Cards can usually only be issued when customers transfer their salary or have an adequate deposit at the bank. Interest rates: Announced by QCB on overnight deposit and loan transactions between QCB and local banks through the Qatar Money Market Rate Standing Facility (QMR), a monetary instrument through which local banks can request access to loan and deposit facilities with QCB at daily interest rates. As there is fixed parity between the Qatari riyal and the US dollar, QCB short term interest rates policies are subordinated to the fixed exchange rate policy, making QCB overnight interest rates closely related to its USD counterpart, the Fed Funds Rate. In March 2020 QCB decreased the overnight lending rate from 3.5% to 2.5%, and the deposit rate and the repo rate to 1%. QCB and Bloomberg jointly launched the first Qatar interbank offer rate (QIBOR) fixing in 2012. This is the interest rate charged by banks in Qatar for interbank transactions.

Accounts Standard bank facilities: Debit/credit cards, standing orders, money transfers, personal loans, vehicle loans, and mortgages on current and savings accounts (including joint accounts). Some accounts offer longer terms, higher interest and the option to save in USD, GBP and Euros. 24/7 telephone and Internet banking services offer additional options, and most banks have an app, allowing for bill payments and account enquiries. With mobile banking services a customer relations officer will visit you at home or work to assist with banking requirements. Most banks also offer premium banking services. International bank account number (IBAN): Adopted in January 2014 as a standard for identifying and numbering all bank accounts in Qatar, and effective from May 2014. QATAR BANKING AND COMMERCE E-GUIDE ©

The Wage Protection Scheme (WPS) is an electronic salary transfer system that ensures workers are paid as per their employment agreement, initiated by the Ministry of Administrative Development, Labour and Social Affairs and QCB. Employees therefore need a local bank account in order to receive their wages from the employer.

Cheques: A chequebook can be issued with a current account. They are not widely accepted for instant payment – these are made with cash or cards. Post‑dated cheques are commonly used for house rental payments. The onus of responsibility is on the banks not to encash cheques before the designated date. Issuing a cheque without the necessary funds in your account is a serious criminal offence and the bank or creditor may notify the police, leading to possible prosecution. Punishment for causing a cheque to bounce due to insufficient funds can be severe: jail terms of between three months and three years, and/ or fines of between QAR3,000 and QAR10,000. Cases being filed are on the rise in the country, mostly for cheques for large amounts, and the Capital Security Department is now recording all cases electronically to speed up the process. Credit cards: Widely available with all the usual associated privileges, with the credit limit determined by the cardholder's salary or savings balance. Family members may also be eligible for a card. Check at the time of applying for issuance and renewal fees, conversion charges, and payment options.

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Customers should contact their bank when travelling overseas and wishing to use their credit or debit cards. Since May 2014 all banks’ credit and debit card transactions made using the magnetic stripe inside and outside of Qatar will be declined. However, as certain countries (eg the US, India and the Philippines) still use the magstripe for transactions, customers should activate their card before travelling. Complaints: Unresolved consumer complaints can be made online to QCB's Consumer Protection Department. qcb.gov.qa

Offshore Banking Offshore banking can be a secure anchor for an expat's finances while out of their home country. Offshore banking is in a jurisdiction other than the one in which you live as a way to enjoy tax breaks and invest in foreign currencies. Check with local banks for availability of international bank accounts in US dollars, pounds sterling, or Euros

Financial Services and Insurance Financial services are provided by entities registered with the Qatar Financial Centre (QFC). Insurance products are widely available from local and international companies (see Living in Qatar in the Discovering Qatar section). Under Law No 13 of 2012 QCB and the Regulation of Financial Services, only local insurance providers are permitted to underwrite any kind of risk against properties in Qatar. Decision No 1 of 2016 issued by the Governor of QCB provides instructions related to licencing, regulation and controls, risk management, accounting, and other requirements. Listed companies must have capital in excess of QAR100 mn or a risk-based capital, while unlisted companies must have capital higher than that set by QCB or their risk-based capital.

There are now six Islamic institutions: Barwa Bank and International Bank of Qatar (trading as Barwa Bank), International Islamic, Masraf Al Rayan and Qatar Islamic Bank. Qatar First Bank – regulated by the QFC Regulatory Authority – is the first independent, Sharia compliant investment bank. In February 2011, QCB asked banks to separate their Islamic and conventional lending operations by 31 December 2011. Islamic banking by other conventional banks are now barred from Qatar's market. QCB took this action due to certain supervisory and monetary issues, namely that holding both Islamic and non‑Islamic deposits incurs different risks and reporting methods. Law No 13 of 2012 requires that Islamic banks must have a Sharia board with at least three qualified members approved by the shareholders. Neither they nor members of their family may be employed or hold shares in the entity. Institutions and services must abide by regulations set out in the Holy Quran and Sharia (Islamic Law). Charging riba (interest) is haram (forbidden). Islamic banks charge fees for services and engage in profit sharing, enabling them to offer comparable facilities to those of conventional banks. Under a mudharabah (profit sharing) contract, the rabbul maal (owner of the money) authorises the bank to invest funds as per Sharia to make justifiable returns. Other concepts of Islamic banking include wadiah (safekeeping), musharakah (joint venture), and ijarah (leasing). Bai (saving) is halal (allowed). m A GCC cross-border and/or multi-currency (CBMC) system is mooted to go live later this year. The Gulf Cooperation Council Real Time Gross Settlement System system (GCC-RTGS) will settle payments in the Gulf currencies; the central banks will convert the currencies based on the FX rates at the start of the business day. Using dedicated CBMC payment systems potentially improves cross-border payments making them faster, cheaper and more transparent. GCC Payment Systems Company (GPC), owned and funded by the six GCC central banks, will manage and operate the GCC-RTGS system.

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QCB continues to regulate and develop the insurance market as per international standards, in line with the Second Strategic Plan for Financial Sector Regulation 2017–2022. Decision No 7 of 2019 sets out further instructions for licensing, organising and supervising the services of supporting insurance providers. It sets out the competencies and expertise for each supporting insurance provider, the nature of the work, areas of responsibility and functions, and the establishment of professional and ethical codes of conduct.

Islamic Finance

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Economy Economic growth and gross domestic product (GDP) One of the main aims of Qatar National Vision 2030 is to diversify the economy and reduce dependence on the hydrocarbon industries. The economy has weathered the impact of the blockade imposed 5 June 2017. Hydrocarbon exports have not been affected. The IMF projects Qatar’s GDP per capita will decrease by 4.3% in 2020, although Qatar has managed to 'maintain market access, with large placements in international capital markets', and has projected economic growth in the Middle East and Central Asia region at –4.7% in 2020. According to FocusEconomics, 'Qatar’s fiscal balance as a percentage of GDP is set to rise to 4.5% in 2024 from an estimated –8.2% this year'. The PSA released the estimates of GDP at current and constant prices for Q4 2019 in April 2020. GDP at current prices (Nominal GDP) is estimated at QAR167.76 bn, a decrease of 7.2% year-on-year (y-o-y) and an increase of 0.2% against Q3 2019. GDP at constant prices (Real GDP) is estimated at QAR206.58 bn, a decrease of 0.6% y-o-y and a decrease of 1.49% against Q3 2019.

Export, Import and Trade surplus In April 2020, the total exports of goods was QAR11.8 bn, a decrease of 46.3% y-o-y, and a decrease of 26.3% month on month (m-o-m). Imports amounted to QAR7.5 bn, a decrease of 17.0% y-o-y and a decrease of 10.1% m‑o‑m. Qatar's trade surplus was QAR4.3 bn, a 66.9% decrease y-o-y, and a decrease of 44.0% m-o-m.

The budget The State Budget for 2020, announced in December 2019, has again been based on an oil price of USD55 a barrel, and is forecast to achieve a QAR500 mn surplus. Revenue is again estimated at QAR211 bn, and spending at QAR210.5 bn, up 1.9%. Expenditure is the highest in the past five fiscal years, as the country is committed to completing numerous development projects across multiple sectors, including those related to National Development Strategy 2018–2022.

The infrastructure sector has been allocated the biggest expenditure for highway and internal roads development, expansion of the existing roads system, water and electricity networks, sewerage networks, and other public utilities. The main infrastructure projects under construction include the launch of the previously-shelved Sharq Crossing Project, linking Ras Abu Aboud and West Bay, and which is expected to be completed within four years. The allocation for the healthcare sector is QAR22.6 bn, 11% of total expenditure in 2020, for major projects to improve healthcare services including expansion of Hamad Medical Corporation facilities and the establishment of new healthcare centres. The education sector is allocated QAR22.1 bn, (10.5%), for expansion of schools and other educational facilities. The budget again provides for the five-year, QAR12.0 bn land development scheme for Qataris, to include water and electricity networks, sewerage, roads and other infrastructure. For more information about major projects, see the Infrastructure section.

Inflation and cost of living The PSA issues the monthly Consumer Price Index (CPI), used to calculate inflation rates in Qatar. The CPI in June 2020 was 95.91, an increase of 0.26% m-o-m and a decrease of 3.41% y-o-y.This reflected a reduction in demand, especially for recreation, transport and clothing, owing to the pandemic. The IMF predicts projected consumer prices to change by –1.2% in 2020.

Population and the labour force Total population in June 2020 was 2,794,148: males 2,034,054; women 760,094. In the Labour Force report for Q1 2020, the economically active increased by 2.0% to 88.4%, compared to Q4 2019, while the unemployment rate was 0.1%. m

Checked & Updated June 2020

The y-o-y decrease in total exports was mainly due to lower exports of petroleum gases/other gaseous hydrocarbons. South Korea was the top destination for exports (15.7%), followed by China and India, while China was the leading importer (19.7%), followed by the US and the UK.

Major projects have been earmarked QAR90 bn (43%), the largest proportion and up 0.6% on 2019, in key sectors such as health, education and transport, and the hosting of the 2022 FIFA World Cup QatarTM. New projects worth QAR11.5 bn are expected to be awarded, of which QAR8.5 bn is expected to go to the Public Works Authority (Ashghal). Salaries and Wages have increased to QAR59 bn, up 3.3%, to take account of recently completed projects, such as the opening of the Doha Metro.

Sources of information: International Monetary Fund (IMF); Planning and Statistics Authority (PSA); Qatar Central Bank (QCB); Ministry of Finance QATAR BANKING AND COMMERCE E-GUIDE ©

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Commerce Qatar is a member of the World Trade Organisation and its trade policies create a competitive international trading market. The government supports the growth and success of businesses in a bid to diversify the economy. Qatar is a member of the Gulf Cooperation Council (GCC), which also includes Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates. The blockade by Saudi Arabia, the UAE, Bahrain and Egypt has led to a number of restraints and made travel between these countries difficult. However, Qatar has strengthened relations with a number of other countries and increased trade routes to mitigate exports and imports.

Organisation

Telephone

Online Map

American Chamber of Commerce in Qatar

4020 6038

amchamqatar.org

Communications Regulatory Authority

103/4406 9938

cra.gov.qa

Department for International Trade (UK)

+44 (0)20 7215 5000

gov.uk

General Authority of Customs

4445 7457

customs.gov.qa

German Business Council Qatar

4431 1152

gbcqatar.com

Hukoomi (Qatar e-Government)

109/4406 9999

gov.qa

Mada Assistive Technology Center

4459 4050

mada.org.qa

Ministry of Commerce and Industry

16001

moci.gov.qa

155

edu.gov.qa

16020/4446 1444

mof.gov.qa

Ministry of Education and Higher Education Ministry of Finance Ministry of Justice

137/4021 5555 moj.gov.qa

Ministry of Municipality and Environment

184/4434 8888

mme.gov.qa

4407 0000

moph.gov.qa

16016/4045 1111

motc.gov.qa

4495 8888

psa.gov.qa

Ministry of Public Health Ministry of Transport and Communications Planning and Statistics Authority Public Works Authority (Ashghal) Qatar Australia & New Zealand Bus Assoc

188/4495 1111 ashghal.gov.qa C4 officemanager@qanzba.org qanzba.org

4496 2080

Qatari Businessmen Association

4435 3120

qataribusinessmen.org C4

Qatari Business Women Association

4420 9109

See their Facebook page

Qatar Chamber

4455 9111

qatarchamber.com

Qatar Development Bank

4430 0000

qdb.qa

Qatar Exchange

4433 3666

qe.com.qa

Qatar Financial Centre (QFC)

4496 7777

qfc.qa

Qatar Intl Court & Dispute Resolution Centre

4496 8225

qicdrc.com.qa

Qatar Investment Authority

4499 5919

qia.qa

Qatar National Tourism Council

4406 9921

visitqatar.qa

qbbf.com

Qatar Professional Women's Network

qpwn.org

Qatar Science & Technology Park

4454 7070

qstp.org.qa

QFC Regulatory Authority

4495 6888

qfcra.com

Checked & Updated June 2020

Qatar British Business Forum

Embassies can provide valuable information on commercial activities and can connect you with their business council/chamber of commerce â&#x20AC;&#x201C; see the Discovering Qatar section for contact details. Translation services can be found in Living in Qatar, also in Discovering Qatar. ÂŠ

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Investment and Trade Qatar has one of the fastest growing global economies thanks to the third largest concentration of natural gas reserves in the world. This along with recent legal liberalisation, economic diversification and an expanding economy provides many investment opportunities for non‑Qataris. Profits can be repatriated as can proceeds of sale and capital on liquidation. Major investment sectors are construction, oil and gas, education, and financial and legal services, with opportunities in ICT, sport, leisure and healthcare.

Incentives The government welcomes foreign participation in joint ventures, with incentives for investment: • A developed infrastructure and ICT network. • Easy access to world markets with good sea and air connections, continuously being upgraded. • Natural gas, electricity, water and petroleum at subsidised rates. • Land for industrial development in the Industrial Area near Doha for a nominal rent of QAR1 per square metre per year. • Loans available from Qatar Development Bank. • Fixed parity between the Qatari riyal and US dollar (USD1 = QAR3.64). • No customs duty on the import of plant machinery; exemption from export duty. • Five-year renewable tax holidays (based on government approval). • No income tax on the salaries of expatriates. • Tax on the profits of foreign-owned stakes in Qatari companies is applied at a flat rate of 10%. • Employment and immigration rules enable the import of skilled and unskilled labour.

Investment Regulations There are primarily two regulatory jurisdictions for foreign investors seeking to conduct commercial business in Qatar: the regulations of the State of Qatar, and the rules and regulations of the Qatar Financial Centre (discussed in more detail below). Qatar also recently introduced new free zones designed to encourage certain bespoke investment vehicles to bring their businesses to the region. Non-Qatari investors may only invest in Qatar in accordance with Foreign Investment Law No 1 of 2019: • In January 2019 the Amir promulgated the new foreign investment law of 2019. According to the new law, foreign investors are permitted to hold more than 49% in commercial companies with special permission from the Minister of Commerce and Industry (MOCI) (subject to some prohibitions set out below). Under the former law such increased ownership was limited to those businesses operating in a specific set of sectors.

• Non-Qatari investors are prohibited from being appointed as commercial agents under Commercial Agencies Law No 8 of 2002, but the former prohibition preventing foreigners from investing in real estate businesses has been removed under the new Foreign Investment Law. Approval from the Council of Ministers is required for foreign investment in banking and insurance. • Foreign capital is protected against expropriation (although the State may acquire assets for public benefit on a non-discriminatory basis, provided the full economic value is paid for the asset). • Subject to Ministerial approval, a foreign company performing a specific contract in Qatar may set up a branch office if the project facilitates the performance of a public service or utility. • A non-Qatari company operating in Qatar under a Qatari government concession to extract, exploit or manage the State's national resources is exempt from the Foreign Investment Law. In practice this covers all large oil and gas companies. • A company formed by a non-Qatari entity with the government or a government entity ('Article 207 Company') may be subject to special rules and exemptions from the Commercial Companies Law No 11 of 2015. • All international companies securing mega infrastructure development work must share at least 30% of the contract with local entities. • Law No 7 of 1987 governs the practice of commercial activity by GCC citizens in Qatar, and was amended in April 2017 under Law No 6 of 2017. GCC citizens as individuals or legal personalities can practice retail and wholesale trade in Qatar. However, the GCC citizen engaging in the activity must be directly responsible for it. Those undertaking retail business must do so via direct sale to customers in a shop, and those in wholesale trading are required to import and export the goods. NB: the blockade against Qatar means that some aspects of this commercial activity is subject to change, and legal advice is recommended. • Law No 12 of 2020 regulating the partnership between the public and the private sector became law in July 2020, as per one of the following regulations: Allocation of land through a rental or usage licence, for development by the private sector; build-operate-transfer (BOT); build-transfer©

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operate (BTO); build-own-operate-transfer (BOOT); operations and maintenance (OM); or any other form adopted by the Prime Minister, upon the proposal of the relevant minister. The Government or other administration may, on its own initiative or at the suggestion of the private sector, identify a project for its implementation through partnership.

Choosing A Business Structure To conduct business in Qatar on a regular basis, foreign investors are required to establish or register a legal presence from the following options: • Incorporating as a company under the Commercial Companies Law which allows full access to Qatar's market and to work on an unlimited number of projects. A Qatari partner is required to own 51% of the capital of the company, except in the circumstances mentioned above. Various exemptions are available to attract foreign capital. • Obtaining a licence for a branch office or trade representation office which does not require a Qatari partner. The licence for a branch is granted in respect of a specific project for a government client. The existence of the branch office is dependent on the duration of a particular project: once the project is completed, the branch office must close unless it has secured additional qualifying projects. Branch offices are only permitted to perform a specific contract and may not engage in general commercial activities with the larger local market. The branch will be fully taxable unless granted a special exemption. Trade representation offices are only permitted to market goods and services; they are not permitted to engage in commercial activities. • Under Law No 7 of 2017 companies in GCC states can now establish companies in Qatar, subject to having had a commercial registration in one of the GCC states for at least three years, and be fully owned and managed by a GCC citizen. Refer to our preceding caveat regarding the blockade. • Appointing a commercial agent means a nonQatari company does not establish a presence in Qatar; instead a 100% owned Qatari entity or Qatari national is appointed as an agent to market the relevant goods and services. Commercial agencies must be exclusive and registered in order to be afforded the protections provided under the Commercial Agents Law No 8 of 2002; non-registered distributorships are subject to the Commercial Law No 27 of 2006. • There is a separate regime for establishing an entity in the Qatar Financial Centre (QFC). QATAR BANKING AND COMMERCE E-GUIDE ©

This allows 100% foreign ownership and aims to attract international financial services companies and some professional support companies to invest in Qatar. The number of permitted activities in which a QFC firm may engage was recently increased to include a broader spectrum of investment options. • The Qatar Science and Technology Park, a free zone in Education City, allows companies to engage in research and development, again with full foreign ownership. • At least one new free zone has started accepting applications and international investors. • Upcoming free zones include: ° Um Alhoul, a 33.52 sq km site adjoining Hamad Port, south of Al Wakra – offers easy access to the water for maritime and logistics companies, and is a gateway for imports and exports. A port and marine cluster, 'Marsa', is able to support a wide range of marine businesses. ° Ras Bufontas, a 4.01 sq km site adjacent to Hamad International Airport – a technology and manufacturing hub for businesses requiring international connectivity. • The Cabinet has added some areas to the Free Zones Law, including Msheireb Downtown Doha. • Under Ministerial Decision No 242 of 2016, the MOCI will grant licences for small businesses at home conducting certain commercial activities including sewing, events services, electronic services, business services, cosmetic activities and food activities. A single license is issued per activity, with an annual fee, and cannot involve direct sales to the public from the residence. Decision No 163 of 2018 cancelled the requirement for signage at the house entrance.

Company Structures According to the Commercial Companies Law No 11 of 2015, the following structures are permitted: • Limited liability companies (LLCs) – subject to the Foreign Investment Law can now be established by a single person owning the entire share capital (previously the minimum number of shareholders was two). This replaces the single person company under the old companies law. Shareholders can determine the share capital of an LLC (previously the minimum share capital was QAR200,000 divided into equal shares). • Article 207 company – a shareholding company where the Qatari government, a government owned entity or a public corporation must own 51% of the shares, unless the Council of Ministers consents otherwise. Certain provisions of the Commercial Companies Law are excluded from the company’s Articles of Association.

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• General partnership – joint partners administer the affairs of the company, and trustee partners contribute to the company's capital. • Simple limited partnership – a local entity formed by two or more Qataris. • Limited partnership with shares – formed by joint partners, liable for the debts, or trustee partners, whose liability is limited to the share value. • Unincorporated joint venture – formed by two or more people pursuant to specific contractual arrangements. The unincorporated joint venture does not have a separate legal personality distinct from its partners'. • Joint stock company (public or private) – the capital is divided into shares with a minimum of five shareholders. Permissible foreign share ownership depends on the type of company and is subject to Qatar Financial Markets Authority approval. • Holding company – incorporated as a joint stock or limited liability company. The holding company must hold at least 51% of the shares in each of the companies under its control.

Commercial Registration (CR) Virtually all companies use a government liaison officer or facilitator to assist with establishment formalities. Under Qatar Commercial Registration Law No 25 of 2005, companies must be approved or registered by one or more of the following entities: Ministry of Commerce and Industry (MOCI); Qatar Chamber; Ministry of Municipality and Environment; Ministry of Interior; Importers' Register/Contractors' Register; and QFC Authority (where appropriate). The following amendments were made under Law No 20 of 2014 in order to expedite registration procedures: • The MOCI must respond to the applicant's request for registration on the same day. • Reasons must be given for rejected applications. The Minister must accept or reject an appeal of the Ministry's decision within 15 days. • A CR is now valid for one year, renewable 30 days before expiration. • Incorporated branches must be in the exact name of the principal company, and are not considered separate legal entities. • Amendments have also been made to penalties for those operating commercial premises without a CR, misusing the CR, and providing false/ wrong documents.

Export and Import Exports According to the Planning and Statistics Authority (PSA), Qatar’s total exports (including exports of domestic goods and re-exports) in Q3 2019 amounted to QAR63.9 bn, for such things as mineral fuels, lubricants, fertilisers, and steel, with Asia the principal destination. There are no duties on exports. Imports According to PSA, imports in Q3 2019 totalled QAR25.7 bn in 2017, comprising machinery and transport equipment, food, and chemicals, mainly from Asia. Import tariffs Importers of goods into Qatar must sign up to the Importers' Register and be approved by Qatar Chamber (QC). Customs duty and legalisation fees are levied on all commercial shipments, irrespective of its value. All goods imported into Qatar are subject to customs duties, based on a percentage value of goods (usually 5%), or on a 'per unit' basis. The value of goods is calculated according to the Customs and Ports Law. Customs duty tariffs fall under these categories: • Personal effects and household items, imports of charitable organisations and returned goods, diplomatic and military exemptions, merchandise for ‘free zones’ and duty-free shops – exempt. Goods in transit may be accepted at designated stations without duty. • General cargo, eg clothing, perfumes, cars, electronic appliances and devices – 5%. • Steel – 20%. • Urea and ammonia – 30%. • Cigarettes, tobacco and its derivatives – 100% or QR1,000 per 10,000 cigarettes, whichever is higher. Law No 25 of 2018 on Excise Tax came into effect 1 January 2019. All businesses that import, produce or store/stockpile excise goods must comply with the requirements stipulated under the law. The following goods are subject to Excise Tax: • Tobacco products – 100%. • Carbonated drinks (non-flavoured aerated water excluded) – 50%. • Energy drinks – 100%. • Special goods – 100%. In accordance with the Gulf Cooperation Council (GCC) Customs Union, more than 600 goods exempted from customs duties, as well as exemptions granted to certain bodies and persons under Customs Law No 40 of 2004. There are fees for the attestation of the Certificate of Origin (from QC) and a tariff for the attestation of the Commercial Invoice, based on shipment value. ©

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Qatar implemented the World ATA Carnet Council in August 2018, joining 77 other countries that use the system, an international customs document permitting the duty-free and tax-free temporary import and export of goods for up to one year. The system is being implemented by QC alongside ICC Qatar and the General Authority of Customs (GAC). Import regulations All commercial shipments are subject to examination by GAC prior to clearance. The Qatar Clearance Single Window (Al Nadeeb) is a one-stop e‑government system facilitating international trade, with interchange between GAC and other stakeholders. 136, ecustoms.gov.qa New regulations were introduced in 2013 to prevent fake products from entering the market. All general goods must have non‑removable marking of their place of manufacture to be eligible for customs clearance. This applies to both air and sea freight. The import of vehicle tyres, spare parts and electrical home appliances has to be based on a 'certificate of conformity' issued by the authority concerned. All general cargo for customs clearance must be backed by an original commercial invoice on the shipper’s letterhead, with stamp and signature. They also require attestation by QC. The packing list of each consignment must have the number of pieces, weight and volume. GAC requires all importers to obtain an HS Code, an international system for classifying traded products. This must be linked to the trader's Commercial Registration and import licence. There are no restrictions on bringing personal effects into Qatar. Banned imports include alcohol, pork and e‑cigarettes. The import of pets is allowed, however certain breeds are not permitted. NB: the blockade against Qatar means that goods from boycotting countries are prohibited (as at date of going to print). Points of entry Imports and exports are transitted via Hamad International Airport, Hamad Port, Doha Port, Mesaieed Port, Ras Laffan and the Salwa Overland Terminal.

Taxation There are no personal taxes or statutory deductions from salaries in Qatar. Under Law No 24 of 2018 on income tax ('the New Tax Law') and its executive regulations, companies must pay tax on all profits at a flat rate of 10%. This is on all corporate income from sources in Qatar, whether the entity has a physical presence in Qatar or not.

The share of the profits due to a Qatari or GCC partner is exempt from tax. Tax exemption applies for certain activities, and companies listed on the Qatar Exchange are also exempt, but companies must pay a 2.5% contribution to charitable and cultural activities. Taxpayers must register with the Public Revenue and Taxes Department. Auditors must be a firm based in Qatar and registered with the MOCI or approved by the QFC. In January 2016 GCC member states agreed to introduce VAT, tentatively set for early 2018. The Council of Ministers approved the Qatar Value Added Tax (VAT) Law and Excise Tax Law and Executive Regulations in May 2017, based on the unified GCC agreement. To date, only the Excise Tax has been implemented.

Intellectual Property Under Law No 9 of 2002, a trademark registration is valid for 10 years from the date of filing the application, renewable for further consecutive periods of 10 years. The court may be ordered to cancel a trademark registration if the owner fails to use it in Qatar within five consecutive years from the date of the registration. Copyright Law No 7 of 2002 gives protection to authors of original literary and artistic works. Protected works include books, lectures, musical works, photographic works and computer software. The economic rights of the author/owner are protected during the lifetime of the author, and for 50 years after his death. Patent Law No 30 of 2006 provides for the registration of inventions and foreign patents at the Qatar Patent Office, and implementing regulations were issued by the Minister of Commerce and Industry under Decision No 153 of 2018. Qatar announced its accession to the Patent Cooperation Treaty in 2011. The Law of Trademarks in the GCC Countries was promulgated under Law No 7 of 2014. The same year Qatar signed a cooperation agreement with the World Intellectual Property Organisation (WIPO) to jointly improve services. There is an electronic trademark registration service via the MOCI website to expedite submissions and preserve IP rights. Law No 10 of 2020 on the protection of industrial designs was issued in April 2020. This will offer more comprehensive protection for designs once the implementing regulations are issued, as previously protection was sought by publishing cautionary notices in Qatari newspapers.

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Regulatory Bodies and Government‑owned Entities Ministry of Commerce and Industry (MOCI) A4 Creates commercial policy for both private and public sectors in order to boost regional and international trade relations and support the development of businesses across the country. This should be the first stop for information when opening a company and investing in Qatar. The MOCI_QATAR app aims to speed up the delivery of services, and promote trade and investment in Qatar. Invest In Qatar is a useful tool for local and foreign investors and investment opportunities. moci.gov.qa, invest.gov.qa Ministry of Finance (MOF) C4 Prepares the State budget and proposes objectives and tools of financial policy in line with Qatar National Vision 2030. The General Authority of Customs monitors the import of all goods, and the e-services of the Government Procurement Portal include tenders and company registration. mof.gov.qa, customs.gov.qa, monaqasat.mof.gov.qa Qatar Chamber (QC) D4 Provides a wide range of services and support to local and international businesses, including certificates of origin (COO) for import/export and ATA Carnet, acting as liaison for international business delegations, and providing training courses. QC services are also available to QFC‑licensed firms. The Qatar International Center for Conciliation & Arbitration (QICCA) was established in 2006 as part of QC to act as an efficient and swift mechanism to settle disputes between Qatari enterprises, or between national companies and foreign counterparts. qatarchamber.com, qicca.org Qatar Development Bank (QDB) D4 The bank plays an active role in the economic and industrial development of Qatar in the private sector by promoting and financing SMEs. The bank is 100% owned by the State of Qatar and provides a wide range of financial and advisory products, such as funding, incubation, and support services. qdb.qa Qatar Financial Markets Authority (QFMA) C4 An independent regulatory authority supervising the financial markets and firms authorised to conduct activities related to securities in or from Qatar, and empowered to exercise regulatory oversight and enforcement over the capital markets. QFMA was granted full membership of the International Organisation of Securities Commissions in 2013. New legislation in 2014 modernised the legal infrastructure, while listing rules and a governance code for funds were issued in 2019. qfma.org.qa

Qatar Investment Authority (QIA) A4 The country's sovereign wealth fund is a major investor in Qatar, owning 50% of Qatar National Bank, 55% of Ooredoo, and 100% of Katara Hospitality, and is a key shareholder in three local Islamic banks. Subsidiaries include: Qatar Holding, a global investment house established in 2006 and licensed by the Qatar Financial Centre Authority; Qatari Diar Real Estate Investment Company, which oversees the Lusail City development among other projects; and Qatar Sports Investments, which owns football club Paris Saint‑Germain. QIA has approximately USD320 bn in assets, although the fund does not publish its holdings. Following a restructure in May 2016, USD100 bn of investments in local companies were placed in a new unit, abandoning the Qatar Holding name. The new internal division, Qatar Investments, is known as QIA internationally. QIA has reduced its direct holdings in Credit Suisse Group AG, Rosneft PJSC and Tiffany & Co, while making new investments in retail properties in Fifth Avenue and Times Square in New York City with Crown Acquisitions, and in Los Angeles with Douglas Emmett. The fund aims to invest USD45 bn in the US. QIA is also committed to investing GBP5 bn in the UK, and a deal has been signed with AccorHotels to create an investment fund of more than USD1 bn dedicated to hospitality in subSaharan African countries. Following five years of redevelopment, 52 Champs-Elysées in Paris was relaunched in March 2019, home of the famous Galeries Lafayette. qia.qa Qatar Investments Portfolio (unconfirmed): 52 Champs-Elysées, Adecoagro, Agricultural Bank of China, Asia Square Tower 1 (Singapore), Banyan Tree, Barclays PLC, Barwa Bank, Brookfield Property Partners, Canary Wharf Group, Claridge's/The Berkeley/The Connaught hotels, Credit Suisse Group AG, Deutsche Bank AG, El Corte Ingles SA, Empire State Realty Trust, Fahrenheit, Glencore PLC, Grupo Santander Brasil, Harrods, Hassad Food, Heathrow Airport Holdings, Hochtief, Iberdrola SA, J Sainsbury PLC, Kahramaa, Lagardère, Le Brantano!, Le Tanneur, Lifestyle International Holdings Ltd, London Shard Tower, London Stock Exchange, LVMH, Masraf Al Rayan, Mowasalat, National Grid PLC, One Ocean Port Vell, Ooredoo, Oryx Midstream Services (Oryx), Pavilion, Pulkovo Airport (St Petersburg), Qatar Exchange, Qatar Islamic Bank, Qatar International Islamic Bank, Qatar National Bank, Rosneft PJSC, Royal Dutch Shell, Siemens, Societe Fonciere Lyonnaise SA, The Bürgenstock Selection, Tiffany & Co, Total SA, Turkuvaz, Valentino Fashion Group SpA, Vente‑Privée, Vivendi, Volkswagen AG, Xstrata PLC. ©

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Qatari Diar Real Estate Investment Company A4 Projects include: Lusail City (Qatar); Chelsea Barracks and East Village (UK); and City Center DC (US). The Qatar Railways Development Company (Qatar Rail) was formed to oversee the Qatar Rail Development Programme: the Doha Metro, the Long Distance Rail, and the Lusail Tram. qataridiar.com

The QFCA is the commercial arm of the QFC, responsible for leading the expansion of Qatar’s financial services sector and for developing relationships with the regional and global financial community. The QFCA's strategy focuses on the creation of a global business hub for three core markets – Asset Management, Reinsurance and Captive Insurance.

Qatar Science and Technology Park (QSTP) C2 Since 2009 QSTP has been a facility for applied research and commercialised technology in Energy, Environment, Health Sciences, and ICT. This free zone at Education City allows foreign companies to set up 100%‑owned businesses in Qatar free of tax and duties. Members must have technology development (eg applied research, development and testing of a product or service, or technology training) as their main activity. qstp.org.qa

The QFC announced in February 2019 its new strategy for achieving its targets for 2022, which includes the registration of 1,000 firms and a focus on specific service industries and new emerging markets with a combined value of over USD2.1 tn. The QFC has an attractive incentives programme to tempt multinational companies to Qatar by offering free offices, highly-competitive tax incentives, and seed capital to cover five years of operating expenses in return for a 10-year commitment. qfc.com.qa

Qatar Financial Centre (QFC) The QFC C4 was set up in 2005 to attract international financial institutions and firms to establish business operations in a 'best‑in‑class' international environment. There are two independent bodies: the QFC Authority (QFCA) and the QFC Regulatory Authority (QFCRA). To operate in or from the QFC, a firm needs to be incorporated or registered by the QFC Companies Registration Office, licensed by the QFCA, and for regulated activities, authorised by the QFCRA. Advantages of establishment in the QFC include: • Firms in the QFC are subject to a separate legal, regulatory, tax and business environment. • Allows 100% foreign ownership and 100% repatriation of profits. • Only 10% corporate tax on locally sourced profits. There are currently more than 800 local and international companies in the QFC, comprising investment and private banking, (re)insurance and asset management firms (each of which is regulated); and consultancy service providers, law firms and financial services recruitment firms (which are non‑regulated). An enhanced registration process was introduced in August 2017 with just four steps, allowing complete registration applications to be reviewed and processed within five business days. Firms are given a dedicated relationship manager and offered support in setting up. The Investment Promotion Agency of Qatar, registered on the QFC platform since 2019, is a single source of investment solutions in Qatar by attracting foreign direct investment in all of the country’s priority sectors. qfc.com.qa QATAR BANKING AND COMMERCE E-GUIDE ©

The QFCRA is the independent regulatory body of the QFC, overseeing all firms conducting financial services in or from the QFC, as a combined banking, insurance and markets regulator. In 2012, the QCB Governor took over the chairmanship of QFCRA, as part of a plan to establish a single financial regime, comprising QFCRA, QFMA, QE, QCB, and the Supreme Judicial Council. qfcra.com The Qatar International Court and Dispute Resolution Centre (QICDRC) consists of the QFC Civil and Commercial Court (First Instance and Appellate Divisions) and the QFC Regulatory Tribunal. The Court has consensual jurisdiction to hear disputes between parties from anywhere around the world and mandatory jurisdiction to hear disputes between entities registered in the QFC. There is a purpose built Alternative Dispute Resolution (ADR) centre. qicdrc.com.qa

Qatar Exchange (QE) QE C4 was created in 2009 between Qatar Holding (88%) and NYSE Euronext (12%) as the successor to Doha Securities Market. Qatar Holding purchased NYSE Euronext's stake in 2013. In 2012, regulatory authority passed to Qatar Central Bank from Qatar Financial Markets Authority, and in 2014 Qatar was added to the Morgan Stanley Capital International Emerging Market Index. It was upgraded in September 2016 from Frontier to Secondary Emerging Market by FTSE Russell. QE began trading in treasury bills in 2011, and in 2012 the QE Venture Market for SMEs was launched, after the QFMA adopted new listing and initial public offerings (IPO) rules in the secondary market. As at October 2019 there are 46 listed companies and 9 brokerage firms.

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All traders must use a stockbroker and register at the Qatar Central Securities Depository. Foreigners are not permitted access to the primary market, so cannot take part in IPOs, and restrictions may apply to the number of floated shares foreigners can trade in. qe.com.qa Qatar Central Securities Depository (QCSD) Established by QCB and licensed by QFMA to provide safekeeping, clearing and settlement of securities and other financial instruments listed on the Qatar Exchange. qcsd.com.qa

Real Estate Under Law No 16 of 2018 on the regulation of non-Qatari ownership and utilisation of real estate, implemented in March 2019, non-Qataris may own and use properties in Qatar 'in many areas according to conditions, regulations and procedures, which shall be determined by a decision of the Cabinet based on the proposal of the Committee for the Regulation of Ownership and Use of Non-Qatari Property'. The real estate non-Qatari individuals and companies are allowed to invest in includes offices, shops, units and villas in residential complexes, and real estate development of land in specified areas, and is not limited to apartments and residential units.

Freehold developments The number of areas non‑Qataris can own and use freehold property has been increased from three to 10 designated areas: • Al Qassar (administrative area 60) • Al Dafna (administrative area 61) • Onaiza (administrative area 63) • West Bay (66) • The Pearl-Qatar (66) • Lusail (69) • Al Khraij (69) • Jabal Theyleeb (69) • Al Khor Resort (74) • Rawdat Al Jahaniyah (investment area) The law offers an atttractive new investment model to Qatar, offering 100% guaranteed return on investment in these areas. Leasehold developments Non‑Qataris can use real estate property for 99 years in 16 designated areas: • Msheireb (area 13) • Fereej Abdelaziz (14) • Doha Al Jadeed (15) • New Al Ghanim (16) • Al Refaa and Old Al Hitmi (17) • Aslata (18) • Fereej Bin Mahmoud (22 and 23) • Rawdat Al Khail (24) • Mansoura and Fereej Bin Dirham (25) • Najma (26) • Umm Ghuwailina (27) • Al Khulaifat (28) • Al Sadd (38) • Al Mirqab Al Jadeed and Fereej Al Nasr (39) • Doha International Airport area (48) All of these areas can be found on the map of Greater Doha in the Discovering Qatar section. m

Developers and Real Estate Agents Selling Property and Land (for letting agents see Living in Qatar in the Discovering Qatar section ) Cushman & Wakefield Direct Real Estate Just Real Estate New Methods United Development Company

4483 7388 4442 1472 4491 3300 4410 8000 4409 5155

cushmanwakefield.qa directqatar.com jre.com.qa new-methods.com udcqatar.com Checked & Updated June 2020

And finally ... some helpful tips on business etiquette Doing business in Qatar depends just as much on personal relationships as on the quality of the company or service. Networking and exchanging business cards is important. Men should wear suits or smart/business casual, and women should cover elbows and knees. Handshaking is common but when meeting Arab people of the opposite sex it is best to wait for them to initiate a handshake. Bear in mind a few other cultural nuances: • Do not rely too much on email • Oral commitments at face‑to‑face meetings may be considered binding, while written agreements may not • Appointments should be reconfirmed on the day • While English is widely spoken, the language of government is Arabic • Sit and talk with your host on general matters before approaching business ©

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FEATURE

The PPP Law Update By Sarah Palmer Qatar's new PPP law aims to enhance the integration between government and the private sector, and boost foreign investment.

t the beginning of June 2020 Law No 12 of 2020 was issued, on Regulating the Partnership between Public and Private Sectors (the PPP law).

Falling oil prices, budget deficits, and the huge number of new and ongoing infrastructure projects in Qatar have placed a burden on the government, requiring the need to develop strategies to diversify its economy and encourage foreign investment. In the lead-up to hosting the 2022 FIFA World Cup QatarTM, the government has increasingly turned its attention toward the private sector as a potential partner in developing major infrastructure works. To govern such relationships between the public and private sectors, the cabinet recently approved the new law regarding public private partnerships (PPP). Under the law, the PPP partnership shall be via a partnership contract, although the minister may choose to exempt a project implemented through a PPP partnership from the provisions of the law. The partnership can be implemented as per one of the following regulations: • Allocation of land through a rental or usage licence, for development by the private sector. • Build-operate-transfer (BOT). • Build-transfer-operate (BTO). • Build-own-operate-transfer (BOOT). • Operations and maintenance (OM). • Any other form adopted by the Council of Ministers, upon the proposal of the relevant minister. QATAR BANKING AND COMMERCE E-GUIDE ©

The Government or other administration may, on its own initiative or at the suggestion of the private sector, identify a project for its implementation through partnership. The contracting authority needs to prepare a project report, with a summary and indicating its suitability for a partnership, as well as the responsibilities and tasks for each participating party. This report will be given to the Prime Minister via the relevant minister along with his recommendations, for consideration. A committee will be formed for each project, comprising representatives of the contracting authority, each relevant department, and the State Audit Bureau. This project committee will be responsible for such things as preparing the project policy document for presentation to the relevant minister for approval, the bid evaluation, negotiating contracts, and raising the recommendation regarding the successful bidder to the contracting authority. The contracting authority and the project committee will prepare the project study and put the project out to tender, via newspapers, the parties' websites, and the unified website for government procurement. Bids may be submitted by a consortium, although the companies involved cannot then bid directly or indirectly or through another consortium, unless the project prospectus states otherwise. Successful bidders will need to meet financial and technical standards, capabilities and competencies, as determined. The Prime Minister may cancel the bidding procedure in the event that only one bid is submitted, or if only one bid is left after any others have been discounted.

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There are specific conditions outlined in the partnership contract, including the nature and scope of the works or services, the responsibility for licences and permits, the duration of the contract and early/partial termination conditions. The duration of the partnership contract cannot exceed 30 years – they may be for a longer period, and existing contracts extended, only after approval by the Prime Minister. Qatar Chamber (QC) held the first PPP-related conference in July on ‘Developing Partnership between Public and Private Sectors’. The virtual conference aimed to bring awareness of the new PPP law. In his opening address, HE Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, stated that the law for partnerships between the public and private sectors at this time is a crucial step in having the appropriate legislative framework in place, to regulate the private sector’s contribution in the implementation of major development projects. The Minister reiterated that Qatar has adopted the partnership experience for many years, especially for logistics, food security, health and education projects. Speaking about the new law, Sheikh Khalifa bin Jassim Al Thani, Chairman of QC, said it would enhance the contribution of the private sector in megaprojects and in economic activity in general. CEO of the Qatar Financial Centre, Yousuf Mohamed Al Jaida, said that the partnership between the two sectors is essential for Qatar's economic development, citing the recent International Monetary Fund report that 'Qatar is expected to be the only country in the region to achieve 5% of GDP growth and 2.4% growth in the consumer index during 2021.'

The law will be mutually beneficial to both parties, allowing for the transfer of technologies and innovation from the private sector to public projects, while diversifying funding sources for government infrastructure projects from private sector financing. It will also encourage best practices and efficiency, and support economic diversification by expanding PPPs to all sectors, not just the large infrastructure projects that PPPs are usually associated with. It will ensure the transfer of expertise and the enhancement of service levels provided in various fields, and will further enhance investment alongside such laws as that regulating the investment of non-Qatari capital in economic activity, allowing up to 100% foreign investment in all economic and trade activities. Notable PPP projects in Qatar A major PPP pilot project was unveiled before potential investors in January, for the construction of 45 schools in the public sector worth an estimated QAR4 bn. The six packages under the project are to be completed within the next five years – the first package is for eight schools. The private sector will finance, build and maintain the schools to be run by the government. The Ministry of Education and Higher Education (MOEHE), Ministry of Finance (MOF), the Public Works Authority (Ashghal) and the Technical Committee are the key stakeholders of the PPP Program. MOEHE will oversee operation of the schools and contract management, while MOF will be in charge of payment guarantee and the PPP policy and guidance. Meanwhile in March Ashghal held a roadshow for the Al Wakra and Al Wukair Sewage Treatment Plan (STP) project (below), to be implemented under a PPP contract. The project includes a sewage pumping station, sludge treatment and management units, odour control units, and the construction of a treated water pumping station. Under the project, to be completed within four years, the private sector partner will operate and maintain the plant for 25 years, and then transfer to Ashghal. m

The PPP framework has already been used for a water and power project at Ras Laffan and a power project in Mesaieed. However, extending the PPP initiative to its infrastructure development plans will make Qatar a hub in the region for foreign long-term investment. It will also drive momentum in the country's currently small PPP sector by establishing a clear legal basis for PPPs, provide a clear governance and approval framework, and give confidence to the government, investors and lenders through legal certainty. ©

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A Sustainable World Cup

By Sarah Palmer

The 2022 FIFA World Cup QatarTM is already unique in three ways: it will be the first to be staged in the Middle East, in the smallest geographical area, and in the winter months. Now, hosts Qatar and FIFA have released the event's first joint Sustainability Strategy.

atar was awarded the rights to host the FIFA World CupTM on a momentous day in December 2010. Thereafter, the reality set in – Qatar was going to have to carefully think about how it was going to organise one of the biggest sporting events in the world. Sustainability has been one of the main aspects of this World Cup, which started at the bid stage and will continue right through to the end of the tournament. The aim is to use the power of football to open up a world of amazing experiences and build a lasting legacy that fits in with both FIFA's vision and Qatar's national development goals. In 2015, FIFA and the Supreme Committee for Delivery & Legacy (SC) began to develop and implement the event’s Sustainability Strategy. This was the first to be planned and delivered jointly by FIFA, SC on behalf of the host country, and the local organisers, FIFA World Cup Qatar 2022 LLC (Q22). 'Developing human capital, safeguarding workers rights, and delivering innovative environmental solutions' are some of the points mentioned in the Sustainability Strategy, which was unveiled in January 2020. ©

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To deliver the shared vision, five sustainability commitments have been defined: • Human Pillar: To develop human capital and safeguard workers’ rights. • Social Pillar: To provide an inclusive tournament experience. • Economic Pillar: To catalyse economic development. • Environment Pillar: To deliver innovative environmental solutions. • Governance Pillar: To set an example of good governance and ethical business practices. Further to this, 22 objectives have been described in detail, along with more than 70 initiatives and programmes to deliver the strategy and achieve the objectives set.

The Human Pillar

These were identified with the help of more than 100 national and international governmental, non-governmental and privatesector organisations, via surveys, workshops meetings and the circulation of drafts, according to SC. Furthermore, the development process for the strategy also included a full human rights salience assessment, a first for a mega-sporting event. According to HE Hassan Al Thawadi, SC Secretary General and Q22 Chairman, 'When Qatar bid to host the FIFA World Cup 2022, it did so with a vision to use the tournament as a catalyst for sustainable, long-term change in Qatar and across the Arab world. From the start, we believed in the power of football and the FIFA World Cup to inspire innovation, to build bridges between cultures and peoples and to accelerate positive social transformation. Our measure of success for the tournament in Qatar will ultimately be the legacy it leaves behind. This strategy will help Qatar to realise that vision and ensure its success.' FIFA Secretary General Fatma Samoura said: 'The FIFA World Cup offers us a unique opportunity to bring about positive change – one that FIFA and Qatar cannot, and will not, let slip away. All critical topics related to the event have been identified and duly addressed in this strategy, such as workers’ welfare, human rights, non-discrimination and environmental protection. The document is also in line with the UN’s Sustainable Development Goals, and we are committed to contributing to those through the power of football and of the biggest single-sport event on the planet.' QATAR BANKING AND COMMERCE E-GUIDE ©

The report covers workers rights, particularly construction workers, as well as human rights issues related to the actual event, such as freedom of expression for journalists and the avoidance of discrimination. The report details FIFA human rights commitments and incorporates some of the concerns of the FIFA independent Human Rights Advisory Board. FIFA and SC are committed to safeguarding the rights and welfare of workers, for those engaged in direct projects as well as those along the supply chain, both locally and internationally. One of these board members is Building and Wood Workers' International (BWI). The group's constributions have been recognised by SC, in two main areas: protection of the human rights of migrant workers; and building on the Memorandum of Understanding between SC and BWI in 2016 for joint inspections and worker grievance mechanisms. This mutual cooperation has already led to the success of the Worker Welfare Forums. Ambet Yuson, BWI General Secretary, commented: 'The joint sustainability strategy is an important step. The progress made by FIFA and the SC can be witnessed on the ground in the lives of workers. This strategy, in the crucial last stages of construction, represents a determination to complete this process that will leave behind the full respect of the human rights of construction workers and all other workers in Qatar.'

The Social Pillar Providing an inclusive tournament for all is this pillar's focus, to ensure it is safe, welcoming and accessible to all participants and attendees. Objectives include:

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• Delivering an accessible World Cup for disabled people and those with limited mobility, across infrastructure, public transport and other services in Qatar. In 2016, SC established the Accessibility Forum inviting the advice of NGOs, government representatives and disabled people on specific requirements.

• Providing a tobacco-free 2022 FIFA World Cup QatarTM across all sites and associated events. FIFA first introduced a smoking ban in 2002, and in 2017 published its tobacco-free policy for FIFA events. Qatar already prohibits smoking in public spaces.

• Promoting cultural exchange among parties engaged with the tournament, to enhance understanding of the culture of Qatar and the region. This can be found in the use of cultural heritage in the design of the stadiums under construction, hosting cultural festivals in the lead-up to 2022, and showcasing Qatar around the world.

Objectives here highlight economic development and growth in Qatar. This will be achieved by enabling local and international businesses to become FIFA suppliers, with a priority for local entities.

• Enabling a welcoming and respectful environment for all participants and attendees, and promoting the attendance of low-income groups. Qatar wants to welcome all to the tournament, and will take all necessary steps, such as an appropriate ticketing policy and if required, increase the availability of low-cost accommodation. • Respecting and protecting the rights of media representatives and human rights advocates. FIFA has a complaints mechanism in place for human rights defenders and media representatives who consider their rights to have been violated while performing work related to FIFA’s activities. • Aligning safety and security practices with international standards of human rights protection. In 2012, Qatar entered into a 10-year project with INTERPOL called 'Project Stadia' – INTERPOL member countries are assisted in planning and executing policing and security preparations for major sporting events, using best practices and lessons learnt from member countries that have successfully hosted such events.

The Economic Pillar

The SC has to date entered into agreements with Silatch and the Qatar National Research Fund (QNRF) with the launch of Challenge 22, a regional innovation award, and with a number of national stakeholders in the public and private sector under the Qatar Innovation Community (QIC). All of the stadiums are being constructed by joint ventures with a minimum of one local company as a member. A contract for 140,000 seats at three of the stadiums has been awarded to Coastal Qatar, a local manufacturing and construction company that will make the seats at their factory in Doha. One of the key points from Qatar's successful bid was for the use of modular stadiums. To that end, all of the stadiums under construction are being built using reusable components, which will be removed after the tournament is finished and donated. Some of the stadiums, in their reduced format, will be used by local sports clubs, or the building and surrounding areas will be repurposed as required for community needs – hotels, offices, parks, and even a renewable energy centre and production facility. One further objective under this pillar is identifying and delivering suitable temporary solutions for the transportation and accommodation of fans. It was recently announced that Qatar has chartered the use of two cruise ships in an agreement signed with Swiss-based company MSC Cruises, offering 4,000 cabins on these 'floating hotels' – just one of many solutions to come.

The Environmental Pillar According to the report 'We are committed to delivering a fully carbon-neutral FIFA World Cup 2022™ and aim to set a benchmark for environmental stewardship by implementing leading sustainable building standards, waste and water management practices and low-emission solutions. Through our work, we will leave a legacy of world-class environmental management expertise, technologies, businesses and standards in Qatar and the region.'

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The SC is committed to achieving a minimum fourstar GSAS certification for design and build, and construction management; Khalifa International Stadium achieved certification in 2017 and Al Janoub Stadium in 2019. Design specifications for these two stadiums alongside Lusail Stadium were compared to a baseline design and shown to exhibit energy savings of up to 47% and water savings of up to 44% during operation. Qatar is looking to increasing its energy efficiency by 10% by 2022 and during the bid stage, committed to hosting a fully carbon-neutral FIFA World Cupâ&#x201E;˘. The SC supported the establishment of the Gulf Carbon Trust (GCT), the first voluntary carbon market in Qatar, while the SC Tree Nursery will facilitate absorption of greenhouse gases. Best-practice air-quality monitoring and control is at all construction sites to suppress dust, reduce movement of construction vehicles, and use modern equipment. Construction and office waste is being segregated and recycled on all SC construction sites and offices, and waste segregation will be provided at all stadiums. Responsible water management practices are in place and will be extended to the hospitality sector.

The Governance Pillar FIFA, SC and Q22 will be 'setting an example of good governance and ethical business practices at the forthcoming World Cup'. Objectives include periodic updates of the Sustainability Strategy, stakeholder engagement and communication, and sustainable procurement procedures. A culture of compliance will focus on risk assessment and management. This will include codes of ethics and conduct policies for all organisations, including anti-bribery and anti-corruption.

Alignment with the UN Sustainable Development Goals Implementation of the Sustainability Strategy is in line with the United Nation's 2030 Agenda for Sustainable Development. This was adopted by world leaders in September 2015 and has 17 universal Sustainable Development Goals (SDGs), or Global Goals, and 169 targets, which set out a vision for ending poverty, protecting the planet and ensuring that all people enjoy peace and prosperity by 2030. The Sustainability Strategy for the 2022 FIFA World Cup QatarTM has been aligned with the most relevant SDGs based upon sustainability topics and human rights issues. Overall, 11 SDGs will be achieved. For more information about the Sustainability Strategy or any other aspect of the 2022 FIFA World Cup QatarTM, visit FIFA.com/sustainability, qatar2022.qa and marhaba.qa m QATAR BANKING AND COMMERCE E-GUIDE ÂŠ

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