Banking and Finance

marhaba.qa

Currency

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

* Prev. Barwa Bank; merged with International Bank of Qatar in April 2019

# Merged with Al Khalij Commercial Bank in November 2021

§ Prev. Qatar First Bank; name changed in October 2022

The Banking Network

Send money online and via the app, or find a branch at westernunion.com/qa/en

There are hundreds of bank branches and ATMs across the country, in nearly all of the malls, hotels, souqs, hospitals and petrol stations. Visitors can usually access funds in their home accounts by using their cards here, with some ATMs allowing the withdrawal of USD and Euro – check 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 and a declaration of origin for large cash deposits may be required. Cash transactions above QAR50,000 are now prohibited. The GCCNET system, established by the GCC countries, is a single ATM network linking all GCC point of sale switches – in Qatar this is NAPS (National ATM & POS Switch).

Branch opening hours: Generally Sunday – Thursday 7:30 am – 1 pm. Many banks have extended branch operations, particularly at malls; check the bank's website for timings and locations of branches and ATMs.

Digital branches and services: HSBC Msheireb Downtown Digital branch

• QIB Video Banking via the QIB mobile app

• Virtual assistants: Dukhan Bank (Rashid), Qatar Islamic Bank (Zaki)

E-payment services: QCB has authorised digital payment services via the Qatar Mobile Payment system, the first instant national digital wallet for transactions, bringing together all mobile payment service providers in Qatar.

Participants:

• Qatar National Bank

• Arab Bank

• Ooredoo Money

• Qatar Islamic Bank

• Doha Bank

• Dukhan Bank

• Qatar International Islamic Bank

• HSBC

• Masraf Al Rayan

• Ahli Bank

• Commercial Bank of Qatar

• Infinity Payment Solutions (iPay) by Vodafone Qatar.

Global digital wallet services (Apple Pay, Google Pay, Samsung Pay): All are available and accepted in Qatar. PayPal: Goods and Services only – Friends and Family is not available.

Himyan: Introduced by QCB as the first national prepaid card and accepted at all ATMs, POS and online stores.

The Ministry of Commerce and Industry (MoCI) has stated all commercial outlets operating in the country must provide an electronic payment service to customers without adding additional charges, nor impose charges for the use of debit/credit cards.

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.

The fifth series of notes were introduced in December 2020. A new QAR200 note joins the QAR1, QAR5, QAR10, QAR50, QAR100 and QAR500 notes. The old notes ceased to be legal tender on 31 December 2021, although the public can change the old notes at QCB for another 10 years. Banknotes incorporate security threads, as well as special features for recognition by the blind and visually impaired, and the new QAR500 note features a holographic security thread, the first in the Middle East to do so. Coins remain unchanged at Dh5, Dh10, Dh25 and Dh50. 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 2013 with monetary union proposed later in the year. Qatar, Kuwait, Bahrain and Saudi Arabia subsequently agreed to establish a unified central bank with currency pegged to the USD. There has been no further action since 2013.

The Banking Sector

Overseen by Qatar Central Bank (QCB), the sector comprises a number of regional, foreign and Islamic banks. State-owned Qatar Development Bank provides financing to SMEs, 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, trading as Barwa Bank, with IBQ products converted to Shariacompliant equivalents. Barwa changed its name to Dukhan Bank in October 2020.

In June 2020 negotiations began for another merger between Masraf Al Rayan and Al Khalij Commercial Bank (al khaliji). Masraf Al Rayan was previously involved as a third bank in the merger between Barwa Bank and IBQ. Masraf Al Rayan and al khaliji's merger agreement in January 2021 was completed in November 2021. al khaliji's business was absorbed into Masraf Al Rayan's, with the latter becoming the remaining legal entity operating in accordance with Islamic Sharia principles. It is now one of the largest Sharia-compliant banks in Qatar and the region, with over QAR182 bn in total assets.

The Cabinet approved a draft resolution in December 2021, allowing a non-Qatari investor to own up to 100% of the capital in four banks: Commercial Bank of Qatar, Masraf Al Rayan, Qatar Islamic Bank, and Qatar National 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 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.

The Economist Intelligence Unit noted in May 2023 that Qatar's banking system risk is among the lowest in the Middle East. In the same month, The Financial Action Task Force and the Middle East and North Africa Financial Action Task Force commended Qatar for its efforts in combating money laundering and countering terrorism financing, being compliant or largely compliant for all 40 recommendations in its system.

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 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 covers banks, insurance companies, exchange houses, Qatar Exchange and QFC-registered entities. Amiri Decision No 65 of 2021 appointed HE Sheikh Bandar bin Mohammed bin Saoud Al Thani as Governor of QCB. qcb.qa

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 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.

Regulations in 2013 curbed investment options for local banks. Equities and bonds can account for up to 25% of a bank’s capital and reserves; debt issued by the government and national banks are exempt. There is also a limit on the amount placed with individual companies and unlisted securities: a maximum of 5% of capital and reserves for foreign investments and 10% domestically. Total foreign equities is capped at 15%.

The Qatar Renminbi Centre opened in 2015 and is the first 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 Qatar, and the RMB centre will facilitate trade via their agreement with QCB. qatarrmbcentre.com

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 law is in accordance with the latest standards adopted by major international organisations including Financial Action Task Force, highlighting Qatar's regional role in setting standards in its legal and regulatory framework for combating money laundering and terrorism financing.

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. 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

QCB launched the National Fintech Strategy 2023 in March 2023 to 'support and reinforce a diversified economy and investments in Qatar based on financial technology and technological innovation,' according to the QCB Governor.

The new strategy has four pillars to boost Qatar's economic growth: establishing infrastructure eg advanced regulatory rules and electronic platforms to develop financial technology; prioritising innovation and financial technology sector growth, especially Islamic financial technology and sustainable development, as well as insurance technology; empowering companies and enhancing their performance by using financial technology solutions and making the State of Qatar a financial technology hub; and providing a smooth mechanism and support for the transition towards cash-less transactions.

This new strategy will add to the number of initiatives already in place to support the fintech sector, such as electronic wallets, instant payments and transfers, and the first local prepaid electronic payment card (Himyan).

Qatar Credit Bureau

Bad loans have been reduced since the Bureau started operations in 2011. The centre cannot grant credit facilities to individuals nor impose restrictions on banks. 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, the default period for a substandard loan is three months or more, for a doubtful loan six months, and a bad loan nine months. Banks 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 to citizens and expatriates. Banks cannot lend more than QAR400,000 to an expatriate, over a maximum repayment period of 48 months, against a max 50% of total monthly salary, and at a max 6.5% interest rate. For Qatari citizens there is a max loan of QAR2 mn over a max 72 months. Banks cannot use post-dated cheques for the loan value.

Mortgages: New rules were introduced by QCB in July 2023, to be applied by Qatari banks and subsidiaries within the country. Branches and subsidiaries of Qatari banks outside the State of Qatar should comply with the instructions and conditions of the host regulatory authorities as long as the collaterals and financed properties are outside the country.

There are three categories:

• Ready and under construction residential properties for individuals, whose repayment sources are linked to the client's own sources, salary or any other non-real estate sources: ø For Qataris, proprieties up to QAR6 mn –maximum loan-to-value (LTV) of 80% and max tenure of 30 years; above QAR6 mn – max LTV 75%, max tenure 30 years. ø For residents, for properties up to QAR6 mn –max LTV 75%, max tenure 25 years; above QAR6 mn max LTV 70%, max tenure 25 years.

• Financing ready properties for individuals and companies for investment and commercial purposes, with the repayment depending mainly on real estate revenues: ø For Qatari citizens and companies, which Qatari partners own not less than 51%, for property value up to QAR10 mn – max LTV 75%, max tenure 25 years; over QAR10mn – max LTV 70%, max tenure 25 years. ø For residents (individuals or companies), for property value up to QAR10 mn – max LTV 70%, max tenure 25 years; over QAR10 mn – max LTV 65%, max tenure 25 years. ø For non-residents, property value up to QAR10 mn – max LTV 60%, max tenure 20 years; over QAR10 mn – max LTV 60%, max tenure 15 years.

• Financing real estate under construction for investment and commercial purposes with the repayment depending on the property revenues in whole or in part: ø For Qatari citizens and companies, which Qatari partners own not less than 51 – max LTV 60%, max tenure 20 years. ø Foreigners (residents and non-resident) – max LTV 50%, max tenure 15 years.

QCB rules for granting mortgages for salary customers states the debt burden ratio should not exceed 75% of the total salary for Qataris, and 50% for expatriates.

If the customer obtains permanent residence in Qatar as a result of owning the property, the mortgage providers can extend the tenure to be similar to that of residents.

The amendments also state that for underconstruction property financing, the grace period, if granted, should not exceed three years and be within the overall tenure, with regular interest payments during this period on a monthly or quarterly basis.

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 • Building insurance cover. Discuss provision for life assurance against any loan amount taken and consider updating your will.

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

Credit cards: A maximum 12% annual interest rate and usually only 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 via the Qatar Money Market Rate Standing Facility, a monetary instrument through which local banks can request access to loan and deposit facilities with QCB at daily interest rates. 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.

Given the 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.

Following adjustments by the US Federal Reserve, in May 2023 QCB increased the overnight lending to 6%, the deposit rate to 5.50% and the repo rate to 5.75%.

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 and apps offer additional options, while some services such as ordering a cheque book can be accessed via the bank's ATM network. With mobile banking a customer relations officer can visit you at home or work to assist with banking requirements. Most banks offer premium banking services.

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 Labour and QCB. Employees therefore need a local bank account in order to receive their wages from the employer.

International bank account number (IBAN): Adopted in 2014 as a standard for identifying and numbering all bank accounts in Qatar. The system applies to all accounts in banks operating in the country, and can be 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 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.

Cheques: A chequebook can be issued with a current account. They are not widely accepted for instant payment; 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 records all cases electronically to speed up the process.

Under new QCB instructions, the Qatar Credit Bureau lists individuals and companies who have issued at least one bounced cheque. Banks are not obligated to issue new cheque books to these customers unless the amount has been settled and their name removed. Banks must also report any customer who has issued a bounced cheque.

Credit cards: Widely available with all the usual 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.

Since 2014 all 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.

Offshore banking: Offshore banking can be a secure anchor for an expat's finances while out of their home country. Check with local banks for availability of international bank accounts in USD, GBP, or Euros.

Complaints: Unresolved consumer complaints can be made online to QCB's Consumer Protection Department. qcb.gov.qa

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).

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.

Decision No 7 of 2019 set out further instructions for licensing, organising and supervising the services of supporting insurance providers. It set out the competencies and expertise, the nature of the work, areas of responsibility and functions, and the establishment of professional and ethical codes of conduct. QCB continues to regulate and develop the insurance market under the National Fintech Strategy 2023 launched in March 2023.

Islamic Finance

Current Islamic institutions include Dukhan Bank, International Islamic, Masraf Al Rayan and Qatar Islamic Bank. Lesha Bank – regulated by the QFC Regulatory Authority – is the first independent, Sharia compliant investment bank.

Banks were required by QCB to separate their Islamic and conventional lending operations by 31 December 2011. Islamic banking by other conventional banks is 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

The Launch of the Qatar Credit Bureau Electronic Application

The Qatar Credit Bureau has a new electronic application service, part of the bureau's continuous efforts to develop the services it provides to the public. The app is in line with Qatar Vision 2030, which aims to advance the economic sector and continue its digital transformation, as well as efforts by the bureau to keep pace with the technological advances in Qatar’s financial and banking sector. The app allows users, whether individuals or companies, to easily access credit reports and the approval system. Users can also file and follow up on complaints about the credit information contained in their credit reports. The app uses customer authentication features and secure electronic payment options to guarantee customer confidentiality and security. Additionally, only users registered with the Tawtheeq system can access the electronic services available. Users can register in the Tawtheeq system using their personal identification numbers. The app is available for iOS and Android, in Arabic and English.

qatarchamber qatar_chamber

Our main role is to organise business interests and represent the Qatari private sector locally and globally as well as support the country’s economic actors and productivity www.qatarchamber.com info@qcci.org

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 both the COVID-19 pandemic and the blockade that was imposed on 5 June 2017, with positivity after borders reopened between Saudi Arabia and Qatar following the AlUla Declaration in January 2021. Qatar and the US topped global exports of LNG in 2022 due to the energy crisis following the war in Ukraine.

The World Bank has forecasted the growth of the Qatari economy by 3.3% in 2023 to be among the best growth rates in the Middle East and North Africa (MENA) region, with a growth of gross domestic product (GDP) per capita by 2.2%. The surplus of the fiscal balance would be about 6.5% of GDP, and the surplus of the current account balance would be about 15.9%.

According to the Planning and Statistics Authority (PSA), the quarterly GDP estimates at constant prices was QAR179.99 bn in Q4 2022, while GDP at current prices increased to QAR220.43 bn. The nominal gross value added estimate of mining and quarrying activities increased by 43.4% to around QAR91.25 bn. The value added estimates at current prices for non-mining activities and quarries in Q4 2022 was QAR129.18 bn, up 16.4% year-onyear (y-o-y).

The Ministry of Finance stated in February 2023 that Qatar's budget for the 2022 fiscal year saw a surplus of QAR89 bn, an increase of 5462.5% compared to the surplus of 2021. The surplus for Q4 2022 was QAR 11.6 bn, compared to a deficit of QAR3.3 bn y-o-y.

Export, Import and Trade Surplus

In April 2023, PSA data stated the total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QAR30.7 bn, a decrease of 0.5% month-on-month (m-o-m) and a decrease of 29.4% y-o-y. The y-o-y decrease was mainly due to lower exports of petroleum gases/other gaseous hydrocarbons. China was the main country of destination (18.3%), followed by South Korea and India.

Imports of goods was around QAR8.7 bn, a decrease of 9.3% m-o-m and a decrease of 6.3% y-o-y. The US was the main country of origin (14.7%), followed by China and India.

showed a surplus of QAR22.0 bn, an increase of QAR0.7 bn or 3.5% m-o-m and a decrease of QAR12.2 bn or 35.6% y-o-y.

The Budget

The State Budget for 2023 was announced in December 2022, with total revenue estimates at QAR228 bn, a 16.3% increase compared to 2022. Expenditures will decrease by 2.6% to QAR199 bn, due to an end in expenses for the FIFA World Cup Qatar 2022TM. However, the allocations for salaries and wages has increased by 6.3% to QAR4.0 bn.

The QAR29 bn budget surplus will repay public debt, support the reserves of Qatar Central Bank (QCB) and increase the capital of Qatar Investment Authority (QIA), to stimulate and diversify the State's economy. The budget surplus is the highest in the last decade, thanks to a 20.8% increase in oil revenues. Figures have been based on an average oil price of USD65 a barrel, up from USD55 in the 2022 budget. HE Ali bin Ahmed Al Kuwari, the Minister of Finance, stated this was due to the remarkable recovery in global energy prices during 2022, adding that international estimates suggest that energy prices will continue to rise over the medium term.

The allocations for major projects for 2023 decreased by 13.6%, at QAR 63.9 bn, while current expenditures increases from QAR67.2 bn to QAR67.5 bn. The 2023 budget shows 22 new projects allocated QAR9.8 bn as part of the country’s scheduled QAR64 bn expenditure of the general budget on major projects for the next year. Of these projects, 14 are estimated to receive QAR5.5 bn, based on an assessment of priorities.

The State continues to focus on the health and education sectors, with QAR21.1 bn for health (11% of total expenditure), and QAR18.1 bn for education (9% of total expenditure).

Inflation and Cost of Living

For April 2023, the Consumer Price Index (CPI), used to calculate inflation rates in Qatar, reached 105.52 points, a decrease of 0.03% m-o-m and an increase of 3.68% y-o-y. PSA data shows there was an annual price increase in seven categories, the largest being a 15.34% increase in the prices of recreation and culture.

Population and the Labour Force

The foreign merchandise trade balance – the difference between total exports and imports – m

Total population in May 2023 was 3,001,781: males 2,160,061; females 841,720. The Labour Force report for Q3 2022 issued in December 2022 showed the unemployment rate was just 0.1%, one of the lowest in the world.

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. Following the ending of the blockade, Qatar has resumed trade with Saudi Arabia, the UAE, Bahrain and Egypt, and has continued to strengthen relations with a number of other countries such as Turkey, Oman, Kuwait, India, China, the UK and the US.

Embassies can provide valuable information on commercial activities and can connect you with their business council/chamber of commerce – see the Discovering Qatar section for contact details. Translation services can be found in Day to Day Qatar in the Living in Qatar section.