Qatar: Proposal to Amend Anti-money Laundering Law Approved

Qatar Tribune, 10 January 2024: Qatar’s Cabinet has approved a proposal to amend the country’s Anti-money Laundering Law.

The amendments relate to Qatar Law No. 20/2019.

The Cabinet has also approved the draft third national development strategy for 2024 to 2030.

In addition, the Cabinet decided to take the appropriate measures to ratify an agreement between Qatar and Egypt on the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance.

Finally, the Cabinet decided to take the appropriate measures to ratify a draft agreement on mutual administrative assistance in customs matters between Qatar and Vietnam.

Also reported in Raya on 11 January 2024. For the full story, click here.

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Qatar: National Products to be Exempted From Specific Licensing Fees During Promotions

Qatar Tribune, 4 January 2024: Qatar’s Cabinet has approved a draft Ministerial Decision to exempt national products from specific licensing fees during promotional periods.

It has been proposed by the Commerce and Industry Minister.

The Cabinet also reviewed a draft Ministerial Decision to regulate the manufacture, installation and monitoring of artificial coral reefs.

It has been proposed by the Environment and Climate Change Minister.

Also reported in Raya on 4 January 2024. For the full story, click here.

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Qatar: Deeds with New Identity Issued

Al-Sharq, 19 December 2023: The Real Estate Registration Department at Qatar’s Justice Ministry has announced it has started issuing new deeds with specifications that match the national identity, in terms of the State’s official logo, colours, font types and icons used.

They are designed with new specifications and features in terms of form and content.

The Department explained that the new deeds are distinguished by the quality of the designs, their security fingerprint and the fact they are printed on non-forgivable security paper.

The new deeds have the capacity to accommodate a larger number of owners compared to previous deeds.

They are distinguished by the quality of paper that is resistant to scratches and damage, as they have been enhanced with comprehensive sustainability characteristics and considering take the requirements of environmentally friendly initiatives into account.

To read more, click here.

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Qatar: Shoura Council Approves Draft Judicial Enforcement Law

Al-Sharq, 11 December 2023: Qatar’s Shoura Council has approved a draft Judicial Enforcement Law.

It was submitted to the Council by the government.

The Council approved it after reviewing a report on it from the Legal and Legislative Affairs Committee.

It aims to improve the speed of implementation of judicial rulings.

It states cheques are enforcement documents and that the amount of the cheques can be collected without a plenary lawsuit having to be filed.

A request can be submitted directly to the Enforcement Judge instead. The aim is to tackle the issue of bounced cheques.

To read more, click here.

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Qatar: Amendments to Law on Combating Use and Trade of Drugs Approved

Qatar Tribune, 30 November 2023: Qatar’s Cabinet has approved amendments to Qatar Law No. 9/1987 on combating drugs and dangerous psychotropic substances and regulating their trade and use.

The Cabinet also approved a draft law to repeal Qatar Law No. 2/1991 on the imposition of fees for issuing certificates issued by the Interior Ministry and its affiliated entities.

In addition, they approved amendments to Qatar Law No. 7/1991 on the imposition of fees for issuing certificates issued by the Defence Ministry.

They have referred it to the Shoura Council to consider.

The Cabinet went on to approve a decision approving a draft law amending Qatar Decision No. 33/2006 on the establishment of the National Committee for Ports Security and an agreement between Qatar and Uzbekistan on the elimination of double taxation with regard to taxes on income and the prevention of tax evasion and avoidance.

Finally, they approved a draft agreement between Qatar and Kuwait on the avoidance of double taxation and the prevention of financial evasion regarding taxes on income and capital.

Additional reporting from Al-Sharq on 29 November 2023. Read full story here.

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Qatar: New Tendering Services for Investors Launched

Al-Sharq, 27 November 2023: The Vice Chairman of the Board of Directors of Munakasat Company has announced new services for Qatari citizens, residents and investors have been launched.

They include a tender library that includes more than 2,500 integrated engineering designs for citizens and a tender concession card, which provides the services of more than 200 suppliers at discounts of up to 30%.

The services are aimed at providing additional value to owners, investors and those wishing to build new buildings as well as middle income or major merchants and real estate developers.

The aim is to facilitate distribution procedures and make them easier, protect shareholders’ dividends with a reliable party, unify the procedures and party of distribution and accelerate the process of distribution and delivery to beneficiaries.

For the full story, click here.

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Qatar: Financial Markets Authority Issues New Dividend Distribution Rules

Arab News, 19 November 2023: Qatar’s Financial Markets Authority has announced it has issued new dividend distribution rules.

They will come into force in 2024 and are aimed at boosting financial sector activity and increasing liquidity volume.

The rules will include substantial changes to the mechanisms of annual dividends distribution to shareholders in public shareholding companies listed on the Qatar Stock Exchange.

They will also control any interim dividend distributions companies want to distribute.

Under the rules, Qatar Stock Exchange-listed public shareholding will be allowed to engage in dividend distribution on an interim basis every three or six months or annually as they can currently. The companies will also have to distribute dividends within a certain period, which would not be exceeded.

However, public shareholding companies will no longer be allowed to distribute dividends and bonus shares to shareholders.

This role will be performed by the Securities Depository Centre Co or Edaa instead.

They will make dividend distribution to shareholders on behalf of public shareholding companies.

The aim is to facilitate distribution procedures and make them easier, protect shareholders’ dividends with a reliable party, unify the procedures and party of distribution and accelerate the process of distribution and delivery to beneficiaries.

Also reported in Raya on 19 November 2023. For the full story, click here.

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Qatar: Labour Ministry Updates Labour Recruitment Offices E-services

Qatar Tribune, 13 November 2023: Qatar’s Labour Ministry has announced it has updated the e-services offered by labour employment offices.

The updates include an ability to renew or cancel a labour recruitment office licence electronically by following the instructions on the Ministry’s website.

Employers and owners of labour recruitment offices must apply for the renewal of their licences electronically at least a month before they expire through the Ministry’s website.

To be eligible for renewal, the company must have an active ID card and valid commercial registration. They must also have no bans on them or personal bans on their new owner, no active renewal requests and no complaints against the office.

Where a request to cancel a labour recruitment office licence is requested, the application is accepted if there are no bans on the establishment, no personal bans on the current owner, no complaints against the office and nine months have passed since the announcement of the office’s closure in an official newspaper.

They have updated the e-services as part of their digital transformation strategy. The strategy is aimed at improving performance, expediting transactions and simplifying procedures.

Also reported in Al-Sharq on 12 November 2023. For the full story, click here.

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