Qatar: Cabinet Approves Amendments to Hayya Platform for Visitor Entry

The Peninsula, 14 May 2025: The Qatari Cabinet has approved a draft decision amending provisions of Qatar Cabinet Decision No. 12/2024 concerning the Hayya Platform.

This amendment aims to broaden the platform’s mandate to attract individuals with distinguished residencies, including investors, property owners, entrepreneurs, and talents in technology, science, creativity, sports, culture, and the arts.

It impacts the procedures for managing visitor entry to Qatar, facilitating smoother entry and residence processes for these targeted groups. By expanding the committee’s mandate, the amendment seeks to enhance Qatar’s attractiveness as a destination for investment and skilled talent, aligning with the country’s broader economic and cultural goals.

The legal changes ensure that the Hayya Platform can efficiently manage and streamline entry procedures for the specified groups.

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Qatar: Cabinet Approves Draft Traffic Law Legislation

Qatar Tribune, 8 May 2025: The Qatari Cabinet approved draft legislation for a new traffic law.

This legal decision is part of the Ministry of Interior’s strategy to regulate and develop traffic movement, improve traffic security, and adapt to advancements in infrastructure and automotive technology.

The draft legislation introduces updated mechanisms for detecting traffic violations, thereby serving the public interest. The law aims to align traffic regulations with the nation’s infrastructural developments and technological advancements, ensuring a safer and more efficient traffic system.

The draft law has been referred to the Shura Council for further deliberation.

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Qatar: MECC Releases Second Edition of Corporate Environmental Sustainability Book

The Peninsula, 30 April 2025: The Qatari Ministry of Environment and Climate Change (MECC) has issued the second edition of the “Corporate Environmental Sustainability: Reports and Achievements” book.

This shows s the growing commitment of Qatari companies to adopt sustainable environmental practices.

The MECC has launched several policies and initiatives which are aimed at reducing carbon emissions, enhancing resource efficiency, and promoting renewable energy. These efforts have been complemented by awareness programmes designed to foster a culture of sustainability within the community. The Ministry has also been focused on developing specialist guidelines for key sectors including oil and gas, finance, education, and transportation, to encourage responsible environmental practices.

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Qatar: QFCRA Proposes Amendments to Prudential Rules for Banks

The QFCRA has issued a Consultation Paper outlining proposals, set out in the draft BANK and IBANK (Market Risk and Miscellaneous) Amendments Rules 2025.

The amendments aim to introduce the Basel Committee on Banking Supervision’s simplified standardised approach as the default method for assessing market risk, particularly for banks with less complex trading portfolios.

The proposals would require a bank’s net open position in any foreign currency other than the US dollar not to exceed 5% of its Tier 1 capital. The net open position in the US dollar would be unable to exceed 25% of the bank’s Tier 1 capital and the higher of the total net open positions in surplus or deficit across all foreign currencies (including the US dollar) would have to remain within 30% of the Tier 1 capital.

These amendments would apply to all QFC-authorised banks. The decision was issued as a Consultation Paper, allowing the Regulatory Authority to gather feedback from conventional and Islamic banks operating under the specified prudential rules.

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QICDRC Case Digest: June – December 2024 Edition

Qatar: Central Bank Launches Sustainable Finance Framework

Qatar Tribune, 20 April 2025: Qatar Central Bank (QCB) issued the Sustainable Finance Framework to align with national strategies and promote growth through environmental, social, and governance principles.

QCB explained that this framework is based on several key elements, including enhancing transparency, revenue management, reporting, and external auditing, aiming to open new opportunities for growth and innovation in Qatar by incorporating sustainable Islamic financial instruments. It supports the transition to a flexible and inclusive economy that balances economic growth with environmental and social responsibility. The framework represents a proactive step by QCB to integrate sustainability into the financial sector, promoting practices that align with global standards and national objectives. The decision impacts financial institutions and stakeholders in Qatar, obligating them to adhere to the principles outlined in the framework. It encourages the adoption of sustainable practices and the development of financial products that meet environmental and social criteria.

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Qatar: Central Bank Introduces Multiple Wallets Feature in Mobile Payment System

Gulf Times, 13 April 2025: Qatar Central Bank (QCB) has introduced a ‘Multiple Wallets per Mobile Number’ feature to the Qatar Mobile Payment system.

The feature allows users to have multiple wallets linked to a single mobile number. This initiative aligns with the Third Financial Sector Strategy and is part of QCB’s efforts to improve mobile payment services in Qatar. The feature enables users to open two wallets with different payment service providers using the same mobile number, providing them with enhanced flexibility and control over their financial transactions. Users can designate a default account for receiving all incoming transfers and have the flexibility to manage and change the default account as needed. The introduction of this feature is expected to support innovation among payment service providers, and support financial inclusion in Qatar.

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Qatar: End of Supplier Classification Exemptions for Public Sector Procurement

Al Watan, 3 April 2025: The Qatari Ministry of Finance has announced the end of supplier classification fee exemptions, with effect from 6 April 2025.

After this date, the prescribed fees will apply, and companies classified under the old system with valid classification certificates and approved profiles will have to switch to the new classification system by then.

The new classification system, which was launched on 3 October 2024, is based on Article 101 of Qatar Cabinet Decision No. 16/2019 the Executive Regulations of the Tenders and Auctions Law No. 16/2019 and its amendments in Qatar Cabinet Decision No. 11/2022. The system requires companies which are participating in government tenders to create a mandatory profile via the national authentication system. An audited balance sheet is now mandatory for company classification, and company performance evaluations in government entities are linked as a criterion for classification. The system also focuses on the financial suitability of companies and ties company revenues to classification categories, adding quality, health, safety, and environmental standards.

The Ministry has urged companies to create their profiles (which can be done free of charge) on the unified state procurement website and to register in the classification lists for suppliers, service providers, and contractors. Profile creation is the first step for classifying companies in sectors such as contracting, suppliers, and service providers for all local and foreign companies. Required documents include a commercial register, trade license, establishment card, audited financial statement for the last fiscal year, and a professional activity license.

The classification criteria include previous experience and performance, quality, health, safety, and environmental standards, legal standards, and financial criteria. Companies are evaluated based on government project contracts, private project contracts, experience in Qatar, and average performance ratings from government entities over the last three years. Quality standards are assessed from company guidelines to ISO certifications, while legal standards consider fines and violations in government contracts. Financial criteria require audited financial statements for the last two years and assess operating profit margin, operating cash flow ratio, and coverage ratio. The Ministry of Finance also plans to develop business localisation programmes, which will include all government companies and subsidiaries of the Qatar Investment Authority, to support private sector companies, increase local content, and ensure small and medium enterprises (SMEs) have a share in local procurement.

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Qatar: Development Bank Launches Partial Investment Guarantee Programme

Alarab, 26 March 2025: The Qatar Development Bank (QDB) has introduced a Partial Investment Guarantee Programme to mitigate financial risks for investors and encourage investment in Qatar’s tech startups.

The programme aims to reduce financial risks for individual and group investors and encourage investment in technology startups in Qatar.

It aligns with Qatar’s National Development Strategy. The guarantees are offered through QDB’s investment arm and provide protection to investors who meet the programme’s criteria. Eligible companies must be based in Qatar.

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