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	Qatar		Info-Prod Country Guide
JUDICIARY   BUSINESS FORMS & STRUCTURES   CURRENCY & BANKING   INTELLECTUAL PROPERTY TAXATION   INVESTMENT & TRADE   PUBLIC PROCURMENT   ENVIRONMENTAL LAW

Currency and Banking Foreign Currency The Qatari Riyal is freely convertible on world financial markets. Currency exchange is regulated by Law No. 4/1982 which controls and sets licensing. Restrictions exist on activities dealing with currency exchange, traveler's checks, valuable metals and personal transfers. Banking Central Bank The Qatar Central Bank was established in 1973 as the Qatar Monetary Agency. In addition to supervising, coordinating and controlling the banking sector, the QCB also regulates insurance and controls the circulation of currency. The QCB sets interest rates for deposits and credit facilities maintained in QR. Commercial Banks There are more than a dozen commercial banks operating in Qatar. A banking license may be issued to a banking entity whose paid-up capital is at least QR 5 million. If the banking entity is a foreign subsidiary, it must maintain that amount of retained or operational capital in Qatar. Banking entities are required to retain a reserve of 100 percent of their paid-up or operational capital in Qatar. Deposits and credit facilities in foreign currency are subject to variable interest rates determined by the banks in accordance with prevailing market terms. Previous Chapter Contents Menu Next Chapter

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